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Penn National Gaming Closes Offering of 4.125% Senior Notes Due 2029
WYOMISSING, Pa.--(BUSINESS WIRE)-- Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) announced today that it has completed its
About this update from Penn Entertainment, Inc.
[{"type":"text","content":" WYOMISSING, Pa.--(BUSINESS WIRE)--\nPenn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) announced today that it has completed its previously announced private offering of $400 million aggregate principal amount of 4.125% senior notes due 2029. The notes were issued at par. The notes are unsubordinated, unsecured obligations of Penn National and are not guaranteed. Penn National intends to use the proceeds of the offering for general corporate purposes.\n\nThe notes were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and they may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the notes were offered and sold only (A) to persons reasonably believed to be qualified institutional buyers in compliance with Rule 144A under the Securities Act and (B) outside the United States to persons other than U.S. persons in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.\n\nAbout Penn National Gaming\n\nWith the nation's largest and most diversified regional gaming footprint, including 41 properties across 19 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company's properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L'Auberge. Our wholly-owned interactive division, Penn Interactive Ventures, LLC, operates retail sports betting across the Company's portfolio, as well as online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, Inc. (“Barstool”) whereby Barstool will exclusively promote the Company's land-based and online casinos and sports bet...