Peter M. Carlino, Penn National Gaming Chairman of the Board, was inducted into the American Gaming Association's Gaming Hall of Fame on Wednesday night in Las Vegas, Nev. Mr. Carlino was honored for his 30-year record as an industry visionary and for his accomplishments in driving Penn National's consistent growth from a single racetrack to what is today the nation's largest regional gaming operator.
Peter Carlino served as Penn National's Chairman and Chief Executive Officer from April 1994 to November 1, 2013. While he continues to serve as Chairman of Penn National's Board of Directors, he left the Company in 2013 to become Chairman and Chief Executive Officer of the newly-formed Gaming and Leisure Properties, Inc., which was spun off from Penn National as the gaming industry's first real estate investment trust (“REIT”) and now has an enterprise value of approximately $13.2 billion.
In 1994, Mr. Carlino assumed leadership at Penn National from his father, Peter D. Carlino, who was awarded one of Pennsylvania's original Thoroughbred racing licenses in 1972 at Penn National Racecourse near Harrisburg. Shortly after assuming leadership at Penn National, Peter M. Carlino led the company's successful initial public offering on the strength of that single racetrack and two off-track wagering facilities, which at the time generated approximately $46 million in revenues. By the time he moved to GLPI in 2013, he had successfully grown Penn National into one of the nation's largest, most broadly diversified casino gaming companies, with 26 properties in 17 jurisdictions throughout North America, and approximately $3 billion in annual revenues. The company will soon complete its acquisition of Pinnacle Entertainment, Inc. which will enhance Penn National's position as the country's leading U.S. regional gaming operator with facilities in more jurisdictions than any other gaming company.
Timothy J. Wilmott, Chief Executive Officer of Penn National and current AGA chairman, commented, “There is no more deserving industry executive to be honored with induction into the AGA's Gaming Hall of Fame than Peter. Time and again over the course of his career Peter's vision and passion for how Penn National and the casino gaming industry can successfully grow has been a driving force for industry change and innovation. His accomplishments throughout his career could fill many pages including his leadership in advocating for the enactment of legislation enabling new regional gaming markets; operational disciplines that resulted in consistent growth at Penn National and that have been widely adopted across the industry and his foresight that led to the creation of the REIT model for the gaming industry. I've been honored to work with and learn from Peter for the last ten years and on behalf of myself, everyone at Penn National and everyone that has had the great honor to work with Peter, I congratulate him on this very well-deserved honor of his induction into the Gaming Hall of Fame.”
Other notable accomplishments during Peter M. Carlino's tenure as CEO of Penn National include:
- 1997 – Led the charge for the successful passage of slot machine gaming at Charles Town Races in West Virginia after two unsuccessful attempts by previous owners
- 2003 – Acquired Hollywood Casino Corporation, which doubled the size of the Company at the time
- 2004 – Named “Best Performing CEO” by HVS Executive Search based on prior year performance relative to his peers for corporate financial growth and decision making methodology
- 2005 – Acquired Argosy Gaming Company, again nearly doubling the size of the Company
- 2007 — Penn National was honored for appearing a record six consecutive years on Fortune Magazine's list of “100 Fastest Growing Companies”
- 2009 – Penn National played a leading role in amending the Ohio State Constitution, resulting in two new casino properties and eventually two racinos
- 2010 – His nearly 30 year quest for passage of gaming in Pennsylvania was fulfilled
- 2011 – Penn National acquired M Resort Las Vegas
- 2012 – Penn National opened Hollywood Casino Kansas City and its new casinos in Ohio
Mr. Carlino was inducted into the AGA Gaming Hall of Fame alongside other industry luminaries, Richard Haddrill, a gaming innovator and local philanthropist; Philip P. Hannifin, an industry pioneer who played a major role driving out organized crime and bringing in corporate investment to Nevada; and Steven Perskie, a pioneer for growing legalized gaming outside of Nevada.
“From expanding the presence of gaming across the county to maintaining the integrity of the industry, each honoree of the Class of 2018 has played an important role in advancing the casino gaming industry,” said Stacy Papadopoulos, interim CEO of the American Gaming Association. “We are proud to recognize their dedication, innovation and commitment by inducting them into the Gaming Hall of Fame.”
Since its formation in 1989, the Gaming Hall of Fame has recognized leaders who have distinguished themselves through significant contributions to gaming. An invitation-only ceremony honoring the inductees took place yesterday evening during the Chairman's Reception at Global Gaming Expo (G2E), sponsored by AGA and the Association of Gaming Equipment Manufacturers (AGEM).
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