As a result, the gaming board opened bidding to owners of all casino licenses in Pennsylvania, including two smaller casinos and winners of the first four auction rounds. The bidding pool widened in Wednesday’s auction because owners of Pennsylvania’s most expansive casino licenses did not bid on the license in last month’s auction. The four license auctions raised $120 million, including Penn National’s opening $50 million bid.

Penn National’s gross revenue is in the top five among U.S.-based casino operators and, fresh off its acquisition of rival Pinnacle Entertainment, it has 41 operating properties in North America.Ī state law passed last year authorizes the Pennsylvania Gaming Control Board to auction the rights to 10 new mini-casinos in an effort to scrounge money for a deficit-strapped state bank account. Landing another casino license for a rock-bottom bid is something of a coup for the company after it won the first auction in January with a high bid of just over $50 million.

For Penn National, Wednesday’s auction potentially gives the company a state-leading fourth casino.

Penn national gaming casinos