Penn National Gaming (PENN) - Get Report shares rose Wednesday, after the gambling company said it had reopened its five casinos in Louisiana and planned to reopen its five casinos in Mississippi Thursday.
It’s awaiting final regulatory clearance for the Mississippi reopenings. The 10 facilities represent 25% of Penn National’s regional casino assets. It has 41 casinos and racetracks in 19 states.
The casinos closed in March due to the coronavirus pandemic.
"As the largest operator of casinos in Louisiana and Mississippi, we are excited and grateful to be able to reopen our doors and welcome back our team members and loyal guests to our facilities," Penn National Chief Executive Jay Snowden said in a statement.
"We are continuing to work closely with our regulators and state and local leaders to prepare for the eventual reopening of all of our properties nationwide."
Penn National has deployed property-specific social-distancing and safety protocols, developed in consultation with state regulators and public health officials, the company said.
Each state’s gambling facilities must operate at a limited capacity at this point, as mandated by the governments.
Penn National is preparing to open its facilities in other states, too, including West Virginia, where it expects to reopen June 5, pending regulatory clearance.
In other gambling-related news Wednesday, casino companies MGM Resorts International (MGM) - Get Report, Caesars Entertainment (CZR) - Get Report and Boyd Gaming (BYD) - Get Report have agreed to participate in a coronavirus testing plan for workers before reopening their facilities in Las Vegas.
Penn National shares recently traded at $25.30, up 6.6%