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Penn National Gaming ready for reopening with strengthened balance sheet

15th May 2020 7:00 am GMT
Penn National Gaming
SBTech

New York-listed casino operator Penn National Gaming has strengthened its balance sheet by $600m with the closing of its common stock and convertible notes offering.

Strong investor demand saw the company increase the size of the offering to $300m common shares and $300m of 2.75% Convertible Senior Notes due 2026, with Penn National also granting a 30-day option to underwriters to acquire up to $90m in total of additional common stock and convertibles notes.

“This successful transaction [...]

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