M&A Deal Summary

PENN Entertainment Acquires Argosy Gaming Co.

On November 3, 2004, PENN Entertainment acquired gaming company Argosy Gaming Co. for 2.2B USD

Acquisition Highlights
  • This is PENN Entertainment’s 4th transaction in the Gaming sector.
  • This is PENN Entertainment’s 2nd largest (disclosed) transaction.
  • This is PENN Entertainment’s 7th transaction in the United States.
  • This is PENN Entertainment’s 1st transaction in New Mexico.

M&A Deal Summary

Date 2004-11-03
Target Argosy Gaming Co.
Sector Gaming
Buyer(s) PENN Entertainment
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) Morgan Stanley (Financial)
Davis Polk & Wardwell (Legal)

Target

Argosy Gaming Co.

Hobbs, New Mexico, United States
Argosy Gaming Co., Inc. is an owner and operator of casinos and related entertainment and hotel facilities.

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Buyer(S) 1

Buyer

PENN Entertainment

Wyomissing, Pennsylvania, United States

Category Company
Founded 1972
Sector Gaming
Employees23,118
Revenue 6.6B USD (2024)
DESCRIPTION

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.


DEAL STATS #
Overall 7 of 19
Sector: Gaming M&A 4 of 6
Type: Add-on Acquisition M&A Deals 6 of 16
State: New Mexico M&A 1 of 1
Country: United States M&A 7 of 18
Year: 2004 M&A 2 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-08 Bangor Historic Track

Bangor, Maine, United States

Bangor Historic Track, Inc. is an operator of harness racing at the city owned track.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-17 Sanford-Orlando Kennel Club

Longwood, Florida, United States

Sanford-Orlando Kennel Club, Inc. offers exciting live greyhound racing.

Buy -