PENN Entertainment - M&A Summary and Business Overview

GamingCompany

PENN Entertainment M&A Summary

PENN Entertainment has acquired 19 companies, including 3 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 3 assets.

PENN Entertainment’s largest acquisition to date was in 2017, when it acquired Pinnacle Entertainment for $2.8B. It’s largest disclosed sale occurred in 2020, when it sold Tropicana Las Vegas to Gaming and Leisure Properties for $308M. PENN Entertainment has acquired in 14 different US states, and 2 countries. The Company’s most targeted sectors include leisure (43%) and gaming (32%).

PENN Entertainment Business Overview

Where is PENN Entertainment headquartered?

PENN Entertainment is headquartered in Wyomissing, Pennsylvania.

What is PENN Entertainment’s revenue?

PENN Entertainment disclosed revenue of 6,363M USD for 2023 and 6,402M USD for 2022.

How many employees does PENN Entertainment have?

PENN Entertainment has 23,333 employees.

What sector is PENN Entertainment in?

PENN Entertainment is a gaming company.

When was PENN Entertainment founded?

PENN Entertainment was founded in 1972.

M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity19
    • M&A Sell Activity3
  • Total Sectors Invested 5
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 4
  • M&A Advisors 7

PENN Entertainment

PENN Entertainment, Inc.

825 Berkshire Boulevard, Suite 200,
Wyomissing, Pennsylvania 19610
United States,
(610) 373-2400
www.pennentertainment.com

PENN Entertainment owns, operates and has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. PENN Entertainment was founded in 1972 and is based in Wyomissing, Pennsylvania.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 16 2 1 - - - 19
vol $6.4B $531M $2.0B $9.0B
Sell (0.4/yr) # 1 1 - - 1 - 3
vol $308M $308M
  22

Most Recent M&A

Company Date Value Type
Barstool Sports, Inc. 2023-08-09 - Sold to Management
New York, New York · www.barstoolsports.com
Score Media and Gaming, Inc. 2021-08-05 2.0B USD Add-on Acquisition
Toronto, Ontario · www.thescore.com
Hollywood Casino Perryville 2020-12-01 31M USD Divestiture
Perryville, Maryland · www.hollywoodcasinoperryville.com
Tropicana Las Vegas, Inc. 2020-04-16 308M USD Divestiture
Las Vegas, Nevada · www.troplv.com
Barstool Sports, Inc. 2020-02-20 500M USD Add-on Acquisition
New York, New York · www.barstoolsports.com
Pinnacle Entertainment, Inc. 2017-12-18 2.8B USD Add-on Acquisition
Las Vegas, Nevada · www.pnkinc.com
Rocket Games, Inc. 2016-08-03 60M USD Add-on Acquisition
San Francisco, California · www.rocketgames.com
Rosecroft Raceway 2016-05-16 - Divestiture
Fort Washington, Maryland · www.rosecroft.com
Illinois Gaming Investors LLC (dba Prairie State Gaming) 2015-07-31 - Add-on Acquisition
Hinsdale, Illinois · www.igigaming.net
Tropicana Las Vegas, Inc. 2015-04-29 360M USD Add-on Acquisition
Las Vegas, Nevada · www.troplv.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Leisure 8 (42%) 622M (7%) 2 (67%) 308M (100%)
Gaming 6 (32%) 5.8B (64%) - -
Digital Media 3 (16%) 2.6B (29%) 1 (33%) -
Infrastructure 1 (5%) - - -
Media 1 (5%) - - -
Total 19 $9.0B 3 $308M

By Geo

State/Country Buy Value Sell Value
United States 18 7.0B 3 308M
  Nevada 3 3.4B 1 308M
  Maryland 2 31M 1 -
  Mississippi 2 - - -
  New York 1 500M 1 -
  Texas 1 - - -
  Pennsylvania 1 780M - -
  Ohio 1 - - -
  New Mexico 1 2.2B - -
  Maine 1 - - -
  Louisiana 1 - - -
  Illinois 1 - - -
  Florida 1 - - -
  Colorado 1 - - -
  California 1 60M - -
Canada 1 2.0B - -
  Ontario 1 2.0B - -
Domestic 18 (95%) 7.0B (78%) 3 (100%) 308M (100%)
Cross-border 1 (5%) 2.0B (22%) - -
Total 19 $9.0B 3 $308M

Top M&A Advisors

Financial Deals
Goldman Sachs
 3
Lehman Brothers, Inc.
2
Bear Stearns & Co. Inc.
 1
Legal Deals
Wachtell, Lipton, Rosen & Katz
 2
Blake, Cassels & Graydon
 1
Skadden, Arps, Slate, Meagher & Flom
 1

Deal Values

buy # Total
> $1B 3 $7.0B
$100M to $1B 4 $1.9B
< $100M 2 $91M
TOTAL $9.0B
Largest Pinnacle Entertainment, Inc.
$2.8B (2017-12-18)
sell # Total
$100M to $1B 1 $308M
TOTAL $308M
Largest Tropicana Las Vegas, Inc.
$308M (2020-04-16)

M&A Connections

Deals
Acquired from
Investor(s)
11%
2 (11%)
Strategic(s)
11%
2 (11%)
Divested to
Strategic(s)
67%
2 (67%)

Company Summary

SECTOR

Gaming

Revenue

6,363   1% 2023
6,402   9% 2022
5,905   65% 2021
3,579   33% 2020
5,301   48% 2019
3,588   14% 2018
3,148   4% 2017
3,034   7% 2016
2,838   10% 2015
2,591   12% 2014
2,918   1% 2013
2,899   2012
(millions of USD) Show More Show Less

Employees

23,333

Established

1972

Public

NASDAQ: PENN

Former Name

Penn National Gaming, Inc.

 Subscribe to unlock this and 207,390
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Related Lists for PENN Entertainment

Pennsylvania Companies , Gaming Companies , United States Companies , Pennsylvania Gaming Companies , Pennsylvania Gaming with Acquisitions , Pennsylvania Gaming with Divestitures

Related Lists for Pennsylvania Companies

Largest Pennsylvania Companies , Acquisitive Pennsylvania Companies , Recently Acquired Pennsylvania Companies , Recently Sold Pennsylvania Companies , Private Pennsylvania Companies , Public Pennsylvania Companies , Acquired Pennsylvania Companies , PE Backed Pennsylvania Companies

Related Lists for Gaming Companies

Largest Gaming Companies , Acquisitive Gaming Companies , Recently Acquired Gaming Companies , Recently Sold Gaming Companies , Private Gaming Companies , Public Gaming Companies , Acquired Gaming Companies , PE Backed Gaming Companies

Related Lists for United States Companies

Largest United States Companies , Acquisitive United States Companies , Recently Acquired United States Companies , Recently Sold United States Companies , Private United States Companies , Public United States Companies , Acquired United States Companies , PE Backed United States Companies
Mergr

Product

Company

Legal