Who owns Hollywood casino?
Are you wondering who owns Hollywood Casino? You’re in the right place! In this comprehensive guide, we will provide you with all the information you need to know about the ownership of Hollywood Casino.
From its inception to the present day, we will delve into the history of the casino and the companies that have owned it over the years.
The Early Days
Hollywood Casino Corporation was established in the early 1990s by the Pratts, owners of Sands Atlantic City, to develop new casinos under the Hollywood Casino name.
The company made its initial public offering in May 1993 and owned an 80 percent stake in Pratt Hotel. Its first riverboat casino opened in Aurora, Illinois, the following month.
Penn National Gaming Acquires Hollywood Casino
In 2003, Penn National Gaming acquired Hollywood Casino Corporation for $328 million plus $360 million in assumed debt. Penn National Gaming, through its subsidiaries, operates or has ownership interests in 20 casinos across the country and in Canada.
With approximately 31,000 gaming machines and 760 table games, Penn National Gaming is one of the largest gaming companies in the world.
Hollywood Casino Perryville Acquisition
In December 2020, Penn National Gaming entered into a definitive agreement with Gaming and Leisure Properties (GLPI) to acquire the operations of Hollywood Casino Perryville for $31.1 million in cash.
The acquisition received final approval from the Maryland Lottery and Gaming Control Commission on May 27, 2021. Penn National Gaming completed the acquisition of the operations of Hollywood Casino Perryville on July 2, 2021.
The Real Estate Assets
On the same day that the acquisition was completed, Penn National Gaming entered into a lease with GLPI for the real estate assets associated with Hollywood Casino Perryville, with annual rent of approximately $7.77 million.
This move allowed Penn National Gaming to re-enter the strong Maryland gaming market and to once again operate Hollywood Casino Perryville, a property it developed in 2010.
Hollywood Casino Tunica and 1st Jackpot Casino
Matt Heiskell, the former General Manager of Hollywood Casino Perryville, now oversees operations at the company’s Hollywood Casino Tunica and 1st Jackpot Casino in Mississippi.
Hollywood Casino Tunica is one of the largest casinos in Mississippi, with over 54,000 square feet of gaming space.
The casino features over 1,100 slot machines and 26 table games. 1st Jackpot Casino, located in Tunica, Mississippi, offers over 900 slot machines and 16 table games.
Hollywood Casino Aurora
Hollywood Casino Aurora, located in Aurora, Illinois, was the first riverboat casino owned by Hollywood Casino Corporation. The casino features over 1,000 slot machines and 26 table games.
In addition to its gaming offerings, Hollywood Casino Aurora also features award-winning restaurants and headline entertainment.
Hollywood Casino Shreveport and Sands Atlantic City
Hollywood Casino Shreveport, located in Shreveport, Louisiana, was opened in December 2000. The casino features over 1,100 slot machines and 29 table games.
Sands Atlantic City, located in Atlantic City, New Jersey, was owned by Hollywood Casino Corporation through Pratt Hotel Corp. The property featured over 500 hotel rooms and a casino with over 79,000 square feet of gaming space.
Hollywood Casino Columbus
In 2022, Penn National Gaming announced plans to build a $100 million hotel at Hollywood Casino Columbus, which is located on Georgesville Road on the city’s west side.
The hotel will be attached to the existing property and will feature 180 rooms in addition to new food and beverage options.
Construction is expected to begin in late 2023 and is subject to regulatory approval.
Conclusion
In conclusion, Penn National Gaming currently owns Hollywood Casino, which operates or has ownership interests in 20 casinos across the country and in Canada.
Its subsidiaries own and operate Hollywood Casino Tunica, 1st Jackpot Casino, Hollywood Casino Aurora, and Hollywood Casino Perryville. Sands Atlantic City was also owned by Hollywood Casino Corporation through Pratt Hotel Corp.
Hollywood Casino Columbus is set to receive a new hotel in the near future. We hope this comprehensive guide has answered your question of who owns Hollywood Casino.
