Penn National Gaming Inc
NASDAQ:PENN
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PENN's latest stock split occurred on Nov 4, 2013
The company executed a 4423-for-1000 stock split, meaning that for every 1000 shares held, investors received 4423 new shares.
Before the split, PENN traded at 58.9586 per share. Afterward, the share price was about 12.7902.
The adjusted shares began trading on Nov 4, 2013. This was PENN's 5th stock split, following the previous one in Mar 8, 2005.
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Penn National Gaming Inc
Glance View
Penn National Gaming Inc., now rebranded as Penn Entertainment, Inc., has crafted a compelling narrative in the world of gaming and entertainment. Founded in 1972 in Pennsylvania, the company has expanded significantly from its roots in the horse racing industry to become a major player in the casino and online gaming markets. Its growth trajectory accelerated as it strategically acquired and developed properties throughout North America. Penn's operational framework revolves around a diverse portfolio of regional gaming properties, including casinos and racetracks, distributed across multiple jurisdictions. A key component of its business model is its emphasis on regional markets, aiming to capture local clientele rather than competing head-to-head with the Las Vegas or Atlantic City giants. A pivotal chapter in Penn's story emerged with its strategic entry into the digital realm, notably marked by its acquisition of a significant stake in Barstool Sports. By leveraging Barstool's widespread digital footprint and enthusiastic following, Penn successfully forayed into the online sports betting and iGaming sectors. This digital transformation has enabled Penn to tap into new revenue streams, combining traditional gaming operations with the burgeoning digital market. The company's revenue model is a hybrid one; it earns from its physical properties through slot machines, table games, and hospitality services, while its digital ventures generate income through online sports betting and gaming. With these two pillars—brick-and-mortar and digital operations—Penn National has positioned itself to capture a broader spectrum of the gaming and entertainment market.
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