Penn National Gaming (PENN) - Get Report shares rose on Wednesday, after the casino company reopened five casinos in Louisiana. The company also mentioned that it plans on opening five more casinos in Mississippi on Thursday.
The only hurdle in Penn's way is the final regulatory clearance in Mississippi.
With 10 total casinos openings, that make 25% percent of the casino company operating at normal efficiency. In total, Penn owns 41 casinos and racetracks across 19 states in the U.S.
Operations had been shut down since March due to the coronavirus pandemic. Penn National Chief Executive Jay Snowden had this to say in regards to the openings, "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. 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."
The company has stated that "Penn National has deployed property-specific social-distancing and safety protocols, developed in consultation with state regulators and public health officials." In terms of casino health protocol, each state’s gambling facilities must operate at a limited capacity at this point, as mandated by local governments. If or when Penn National is able to reopen in Mississippi, the company will next look to reopen in West Virginia in early June.