Hollywood Casino: Hollywood Casino is one of the most recognizable brands in the American gaming industry. Known for its iconic name and consistent entertainment experience, the brand is present across numerous states and operates under the broader umbrella of a powerful gaming corporation. But who exactly owns Hollywood Casino, and how does its ownership structure impact its operations?
In this article, we’ll break down:
- The ownership of Hollywood Casino
- Its parent company
- Geographic reach and locations
- Financial performance
- Strategic partnerships
- Impact on the U.S. gaming industry
Let’s start by understanding the brand’s corporate background.
1. Ownership Overview: Who Owns Hollywood Casino?
Hollywood Casino is owned and operated by Penn Entertainment, Inc., formerly known as Penn National Gaming, Inc. Penn Entertainment is a publicly traded company listed on the NASDAQ under the ticker symbol PENN.
About Penn Entertainment:
- Headquarters: Wyomissing, Pennsylvania
- Founded: 1972
- Public Listing: 1994
- Ticker Symbol: PENN
- CEO (as of 2025): [Check current name for accuracy]
Penn Entertainment owns a wide portfolio of gaming and racing properties across North America, with Hollywood Casino being one of its flagship brands.
2. Brand and Property Management
Hollywood Casino is not a single location but rather a brand umbrella under which multiple casino and hotel properties operate. The table below shows key Hollywood Casino properties and their locations.
Table 1: Major Hollywood Casino Locations
| Property Name | Location | Type | Features |
|---|---|---|---|
| Hollywood Casino at Penn National | Grantville, PA | Casino/Racetrack | Slot machines, table games, horse racing |
| Hollywood Casino Toledo | Toledo, OH | Casino | Gaming, dining, sportsbook |
| Hollywood Casino Lawrenceburg | Lawrenceburg, IN | Casino/Hotel | Hotel, poker room, table games |
| Hollywood Casino Aurora | Aurora, IL | Casino | Riverboat-style casino |
| Hollywood Casino at Charles Town Races | Charles Town, WV | Casino/Racetrack | Live racing, sportsbook, slots, hotel |
| Hollywood Casino Columbus | Columbus, OH | Casino | Large gaming floor, fine dining |
These properties are fully or partially owned by Penn Entertainment and are managed as part of their regional casino operations.
3. Corporate Structure and Real Estate Ownership
One interesting aspect of Penn’s business model is the separation of real estate ownership from operations. In 2013, Penn spun off its real estate assets into a Real Estate Investment Trust (REIT) called Gaming and Leisure Properties, Inc. (GLPI).
Table 2: Ownership & Leaseback Model
| Entity | Role | Description |
|---|---|---|
| Penn Entertainment (PENN) | Operator | Operates casinos, handles licensing, gaming, staff |
| Gaming and Leisure Properties (GLPI) | Landlord/Owner of Real Estate | Owns land and buildings; leases them back to Penn |
Penn leases back many of its Hollywood Casino properties from GLPI. This triple-net lease model allows Penn to focus on gaming operations while GLPI manages the real estate.
4. Financials and Stock Performance
As a public company, Penn Entertainment releases quarterly and annual reports detailing its financial performance. The Hollywood Casino properties contribute a significant share of the company’s revenue.
Table 3: Sample Financial Snapshot (2024 Estimates)
| Metric | Value (Approx.) | Notes |
|---|---|---|
| Total Revenue | $6.2 billion | Across all Penn properties |
| Net Income | $450 million | Profit after expenses |
| Revenue from Hollywood Casino | ~$2.1 billion | Approx. one-third of total revenue |
| Employees (total) | 20,000+ | Across all divisions |
Note: These figures are illustrative estimates and should be verified against the latest 10-K and 10-Q filings for accuracy.
5. Strategic Moves: Online Expansion and Partnerships
In recent years, Penn has invested heavily in online gaming and sports betting through its Hollywood Casino brand and other digital platforms.
Key Moves:
- Barstool Partnership (2020–2023): Penn initially bought a stake in Barstool Sports to tap into younger demographics through sportsbook integration.
- ESPN BET Launch (2023): In 2023, Penn entered into a $2 billion agreement with ESPN to launch ESPN BET, replacing Barstool Sportsbook. Hollywood Casino locations now promote ESPN BET in their sportsbooks.
- mychoice Loyalty Program: Penn runs a unified loyalty program that integrates in-person and online gaming rewards.
6. Regulatory and Licensing Framework
Each Hollywood Casino must be licensed and regulated at the state level. This adds complexity, as rules and tax structures vary widely by state.
Table 4: Regulatory Examples
| State | Licensing Body | Unique Requirement |
|---|---|---|
| Pennsylvania | Pennsylvania Gaming Control Board | High gaming tax (~54% on slots) |
| Ohio | Ohio Casino Control Commission | Separate regulation for casinos vs racinos |
| West Virginia | WV Lottery Commission | Sports betting allowed onsite and via app |
7. Impact on the U.S. Gaming Industry
Hollywood Casino has helped Penn establish a significant regional gaming presence outside of Las Vegas and Atlantic City. Its focus on mid-sized cities, affordable entertainment, and hybrid in-person/digital gaming has allowed it to compete effectively in a saturated market.
Key Contributions:
- Created thousands of jobs in local economies
- Invested in racetrack preservation and modernization
- Pioneered online-to-offline betting integrations
Conclusion: More Than Just a Casino Brand
Hollywood Casino is a strategic asset in the portfolio of Penn Entertainment, backed by a solid operational model and modern digital growth strategy. While the casinos themselves operate in diverse states and under different regulatory regimes, they are unified by branding, loyalty programs, and operational efficiency.
Through a complex but effective structure involving Penn Entertainment (operations) and GLPI (real estate), the brand continues to grow its footprint and modernize its services—offering a window into the future of American gaming.
