Hollywood Casino Columbus Opens New Hotel Tower
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: Newsfilter
- Hotel Opening: The new hotel tower at Hollywood Casino Columbus officially opens with a $100 million investment, featuring 203 rooms that provide upscale accommodations, further solidifying the region's status as a premier entertainment destination.
- Rich Amenities: The hotel includes 183 standard rooms and 20 luxury suites, a full-service restaurant and bar, conference rooms, a fitness center, and an outdoor terrace, enhancing the overall guest experience significantly.
- Future Expansion Plans: An expanded high-limit table games room and speakeasy bar are expected to be introduced by Q3 2026, with the overall expansion projected to create 150 new jobs, thereby strengthening the company's competitive position in the market.
- Strategic Development: This opening marks the third of four retail development projects completed by PENN within a year, highlighting the company's ongoing growth trajectory, with plans to open the new Hollywood Casino in Aurora, Illinois, shortly thereafter.
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Analyst Views on PENN
Wall Street analysts forecast PENN stock price to fall
15 Analyst Rating
9 Buy
5 Hold
1 Sell
Moderate Buy
Current: 21.210
Low
14.15
Averages
19.38
High
26.00
Current: 21.210
Low
14.15
Averages
19.38
High
26.00
About PENN
PENN Entertainment, Inc., together with its subsidiaries, operates in 28 jurisdictions throughout North America, with a portfolio of casinos, racetracks, and online sports betting (OSB) and iCasino offerings. Its focus is on organic cross-selling opportunities, reinforced by its retail casinos, sports media assets and technology, including a proprietary fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. Its Northeast segment includes Ameristar East Chicago, Hollywood Casino at Greektown, and Hollywood Casino Bangor. Its South segment includes 1st Jackpot Casino, Ameristar Vicksburg, Boomtown New Orleans, and L’Auberge Baton Rouge. Its West Segment includes Ameristar Black Hawk, Cactus Petes and Horseshu, M Resort Spa Casino and Zia Park Casino. Its Midwest Segment includes Ameristar Council Bluffs, Hollywood Casino Aurora, and River City Casino. Its Interactive segment includes OSB, online casino/iCasino, and social gaming operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Hollywood Casino Columbus Opens New Hotel Tower
- Hotel Opening: The new hotel tower at Hollywood Casino Columbus officially opens with a $100 million investment, featuring 203 rooms that provide upscale accommodations, further solidifying the region's status as a premier entertainment destination.
- Rich Amenities: The hotel includes 183 standard rooms and 20 luxury suites, a full-service restaurant and bar, conference rooms, a fitness center, and an outdoor terrace, enhancing the overall guest experience significantly.
- Future Expansion Plans: An expanded high-limit table games room and speakeasy bar are expected to be introduced by Q3 2026, with the overall expansion projected to create 150 new jobs, thereby strengthening the company's competitive position in the market.
- Strategic Development: This opening marks the third of four retail development projects completed by PENN within a year, highlighting the company's ongoing growth trajectory, with plans to open the new Hollywood Casino in Aurora, Illinois, shortly thereafter.
See More
PENN Entertainment Stock Surpasses Analyst Target Price
- Price Target Surpassed: PENN Entertainment's stock has reached $21.47 per share, exceeding the average analyst 12-month target price of $20.88, indicating increased market confidence that may attract more investor interest.
- Diverse Analyst Reactions: Among the 17 analysts covered by Zacks, target prices range from $16.00 to $30.00, with a standard deviation of $3.568, highlighting significant divergence in market expectations that investors need to carefully assess.
- Clear Market Signal: The stock's breach of the target price provides investors with a strong signal to reassess the company, prompting considerations of whether to hold or reduce their positions, which could impact market liquidity and stock price volatility.
- Wisdom of the Crowd: The average target price reflects the opinions of multiple experts, and investors should pay attention to this
See More
Amazon's Logistics Expansion Hits Freight Stocks Hard
- Freight Stocks Decline: Amazon's announcement to open its less-than-truckload shipping services to external companies led to a 5% drop in FedEx Freight and Old Dominion Freight Line, and a 4% decline in XPO, indicating a significant threat to industry incumbents and potential market share erosion.
- Super Micro Stock Plunge: Super Micro Computer's plan to raise $7 billion through equity and equity-linked securities to cover hardware component costs resulted in an 18% stock drop, reflecting market concerns over its financing strategy and potential long-term implications for growth.
- Energy Stocks Rally: Devon Energy's stock surged over 6% after Evercore ISI upgraded its rating to outperform, following a better-than-expected mid-month update post the $58 billion acquisition of Coterra Energy, showcasing strong performance in the oil and gas sector.
- Restaurant Stocks Surge: Cracker Barrel's stock soared 24% after raising its full-year revenue and adjusted EBITDA guidance, reporting fiscal Q3 earnings of $0.29 per share on $797.4 million in revenue, exceeding analyst expectations and indicating robust business recovery.
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2026 FIFA World Cup Set to Become Largest Betting Event Ever
- Betting Market Forecast: Analysts predict that global wagers on the 2026 World Cup could exceed $50 billion, a significant increase from over $35 billion during the 2022 tournament, indicating that the event will create substantial customer acquisition opportunities for sportsbooks.
- Operational Profit Boost: Macquarie expects the World Cup to enhance 2027 operator EBITDA by 2% to 5%, with the most significant benefits accruing to companies like Flutter Entertainment that have large soccer audiences, highlighting their competitive strength in both North America and Brazil.
- Market Maturity Deepens: The U.S. sports betting market has matured significantly, with 65% of the U.S. population now having legal access to sports betting, up from about 40% during the 2022 tournament, indicating a vast market potential.
- Rise of Prediction Platforms: Kalshi and Polymarket saw a 13% week-over-week increase in trading volume, reaching $7 billion, showcasing the rapid growth of prediction markets, which have attracted participation from companies like Fanatics and DraftKings, further diversifying the market.
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UNITE HERE Gains Support from Leading Proxy Advisors Ahead of PENN's Annual Meeting
- Proxy Advisor Recommendations: UNITE HERE announced that both Institutional Shareholder Services (ISS) and Glass Lewis & Co. have recommended that PENN Entertainment shareholders vote FOR the proposal to declassify the Board at the June 16, 2026 Annual Meeting, significantly enhancing shareholder rights and board accountability.
- Historical Shareholder Support: Although shareholders supported board declassification in 2010, the proposal was not implemented, and the current recommendations reflect ongoing shareholder expectations for annual elections, aligning with best governance practices among public companies.
- Industry Comparisons: UNITE HERE highlighted that leading gaming companies, including MGM Resorts and Caesars Entertainment, have already adopted annual director elections despite operating in a highly regulated environment, indicating widespread recognition of governance standards within the industry.
- Importance of Voting: With less than two weeks before the meeting, UNITE HERE strongly urges PENN shareholders to support the declassification proposal to enhance board accountability and responsiveness, thereby fostering long-term value creation.
See More
PENN Entertainment to Close Hollywood Casino Aurora for New $360M Property Opening
- New Casino Opening: PENN Entertainment plans to close the Hollywood Casino Aurora on June 10 in preparation for the grand opening of a new $360 million land-based casino on June 24, marking a significant strategic move in the market.
- Geographic Advantage: The new casino is strategically located about 38 miles west of downtown Chicago, adjacent to the Chicago Premium Outlets, which is expected to attract a large customer base and enhance the company's market share in the region.
- Rich Amenities: The new facility will feature approximately 1,200 gaming positions, including high-limit slots and table games, a 226-room premium hotel, and diverse dining options, significantly enhancing the customer experience.
- Market Performance: PENN's shares have risen over 17% in the past six weeks, indicating strong market confidence in its growth potential, while the short interest stands at 13.3%, reflecting investor concerns about stock price volatility.
See More
Hollywood Casino Columbus Opens New Hotel Tower
- Hotel Opening: The new hotel tower at Hollywood Casino Columbus officially opens with a $100 million investment, featuring 203 rooms that provide upscale accommodations, further solidifying the region's status as a premier entertainment destination.
- Rich Amenities: The hotel includes 183 standard rooms and 20 luxury suites, a full-service restaurant and bar, conference rooms, a fitness center, and an outdoor terrace, enhancing the overall guest experience significantly.
- Future Expansion Plans: An expanded high-limit table games room and speakeasy bar are expected to be introduced by Q3 2026, with the overall expansion projected to create 150 new jobs, thereby strengthening the company's competitive position in the market.
- Strategic Development: This opening marks the third of four retail development projects completed by PENN within a year, highlighting the company's ongoing growth trajectory, with plans to open the new Hollywood Casino in Aurora, Illinois, shortly thereafter.
See More
PENN Entertainment Stock Surpasses Analyst Target Price
- Price Target Surpassed: PENN Entertainment's stock has reached $21.47 per share, exceeding the average analyst 12-month target price of $20.88, indicating increased market confidence that may attract more investor interest.
- Diverse Analyst Reactions: Among the 17 analysts covered by Zacks, target prices range from $16.00 to $30.00, with a standard deviation of $3.568, highlighting significant divergence in market expectations that investors need to carefully assess.
- Clear Market Signal: The stock's breach of the target price provides investors with a strong signal to reassess the company, prompting considerations of whether to hold or reduce their positions, which could impact market liquidity and stock price volatility.
- Wisdom of the Crowd: The average target price reflects the opinions of multiple experts, and investors should pay attention to this
See More
Amazon's Logistics Expansion Hits Freight Stocks Hard
- Freight Stocks Decline: Amazon's announcement to open its less-than-truckload shipping services to external companies led to a 5% drop in FedEx Freight and Old Dominion Freight Line, and a 4% decline in XPO, indicating a significant threat to industry incumbents and potential market share erosion.
- Super Micro Stock Plunge: Super Micro Computer's plan to raise $7 billion through equity and equity-linked securities to cover hardware component costs resulted in an 18% stock drop, reflecting market concerns over its financing strategy and potential long-term implications for growth.
- Energy Stocks Rally: Devon Energy's stock surged over 6% after Evercore ISI upgraded its rating to outperform, following a better-than-expected mid-month update post the $58 billion acquisition of Coterra Energy, showcasing strong performance in the oil and gas sector.
- Restaurant Stocks Surge: Cracker Barrel's stock soared 24% after raising its full-year revenue and adjusted EBITDA guidance, reporting fiscal Q3 earnings of $0.29 per share on $797.4 million in revenue, exceeding analyst expectations and indicating robust business recovery.
See More
2026 FIFA World Cup Set to Become Largest Betting Event Ever
- Betting Market Forecast: Analysts predict that global wagers on the 2026 World Cup could exceed $50 billion, a significant increase from over $35 billion during the 2022 tournament, indicating that the event will create substantial customer acquisition opportunities for sportsbooks.
- Operational Profit Boost: Macquarie expects the World Cup to enhance 2027 operator EBITDA by 2% to 5%, with the most significant benefits accruing to companies like Flutter Entertainment that have large soccer audiences, highlighting their competitive strength in both North America and Brazil.
- Market Maturity Deepens: The U.S. sports betting market has matured significantly, with 65% of the U.S. population now having legal access to sports betting, up from about 40% during the 2022 tournament, indicating a vast market potential.
- Rise of Prediction Platforms: Kalshi and Polymarket saw a 13% week-over-week increase in trading volume, reaching $7 billion, showcasing the rapid growth of prediction markets, which have attracted participation from companies like Fanatics and DraftKings, further diversifying the market.
See More
UNITE HERE Gains Support from Leading Proxy Advisors Ahead of PENN's Annual Meeting
- Proxy Advisor Recommendations: UNITE HERE announced that both Institutional Shareholder Services (ISS) and Glass Lewis & Co. have recommended that PENN Entertainment shareholders vote FOR the proposal to declassify the Board at the June 16, 2026 Annual Meeting, significantly enhancing shareholder rights and board accountability.
- Historical Shareholder Support: Although shareholders supported board declassification in 2010, the proposal was not implemented, and the current recommendations reflect ongoing shareholder expectations for annual elections, aligning with best governance practices among public companies.
- Industry Comparisons: UNITE HERE highlighted that leading gaming companies, including MGM Resorts and Caesars Entertainment, have already adopted annual director elections despite operating in a highly regulated environment, indicating widespread recognition of governance standards within the industry.
- Importance of Voting: With less than two weeks before the meeting, UNITE HERE strongly urges PENN shareholders to support the declassification proposal to enhance board accountability and responsiveness, thereby fostering long-term value creation.
See More
PENN Entertainment to Close Hollywood Casino Aurora for New $360M Property Opening
- New Casino Opening: PENN Entertainment plans to close the Hollywood Casino Aurora on June 10 in preparation for the grand opening of a new $360 million land-based casino on June 24, marking a significant strategic move in the market.
- Geographic Advantage: The new casino is strategically located about 38 miles west of downtown Chicago, adjacent to the Chicago Premium Outlets, which is expected to attract a large customer base and enhance the company's market share in the region.
- Rich Amenities: The new facility will feature approximately 1,200 gaming positions, including high-limit slots and table games, a 226-room premium hotel, and diverse dining options, significantly enhancing the customer experience.
- Market Performance: PENN's shares have risen over 17% in the past six weeks, indicating strong market confidence in its growth potential, while the short interest stands at 13.3%, reflecting investor concerns about stock price volatility.
See More
