Penn National Gaming’s $400 Million Private Offering

Wachtell, Lipton, Rosen & Katz represented Penn National in the transaction.

Penn National Gaming, Inc. (NASDAQ: PENN) has priced its $400 million aggregate principal amount of 4.125% senior notes due 2029 in a private offering.

With the nation’s largest and most diversified regional gaming footprint, including 41 properties across 19 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L’Auberge. Our wholly-owned interactive division, Penn Interactive Ventures, LLC, operates retail sports betting across the Company’s portfolio, as well as online social casino, bingo, and iCasino products.

Wachtell Lipton’s team was led by Daniel A. Neff (Picture), Emily D. Johnson and Zachary S. Podolsky and included George N. Tepe, Associate, Charles M. Rosenthal, Associate (Corporate), Stephanie A. Marshak, Associate, Daniel J. Wertman, Associate, Alicia Gabrielle Schleifman, Summer Associate (Finance), Amanda M. Cioffi, Associate (Executive Compensation and Benefits), Joshua M. Holmes, Partner and Rachel B. Reisberg, Partner (Tax).

Involved fees earner: Amanda Cioffi – Wachtell, Lipton, Rosen & Katz; Joshua Holmes – Wachtell, Lipton, Rosen & Katz; Emily Johnson – Wachtell, Lipton, Rosen & Katz; Stephanie Marshak – Wachtell, Lipton, Rosen & Katz; Daniel Neff – Wachtell, Lipton, Rosen & Katz; Zachary Podolsky – Wachtell, Lipton, Rosen & Katz; Rachel Reisberg – Wachtell, Lipton, Rosen & Katz; Charles Rosenthal – Wachtell, Lipton, Rosen & Katz; George Tepe – Wachtell, Lipton, Rosen & Katz; Daniel Wertman – Wachtell, Lipton, Rosen & Katz;

Law Firms: Wachtell, Lipton, Rosen & Katz;

Clients: Penn National Gaming;

Author: Martina Bellini