When we think of casinos, we tend to focus on the glamour and glitz of the gaming industry. However, behind the scenes, ownership and management of casinos can be complex and multi-layered. Hollywood Casino Columbus, one of the premier casinos in Ohio, is no exception when it comes to the complexity of its ownership. This article aims to investigate the structure of the ownership of Hollywood Casino Columbus, its investors, their stakes, and their journey to success.
Behind the Scenes: Unveiling the Ownership Structure of Hollywood Casino Columbus
Located in Columbus in Ohio, Hollywood Casino Columbus opened in 2012. The casino spans over 160,000 square feet and offers a wide range of gambling options such as slots, table games, and a poker room. The casino is a subsidiary of Penn National Gaming Inc., a casino and racetrack giant headquartered in Pennsylvania.
Penn National Gaming has a 50.1% stake in Hollywood Casino Columbus. The remaining 49.9% is owned by both private equity firm Gaming and Leisure Properties (GLPI) and another real estate-focused investment trust, VICI Properties. GLPI owns the land of the casino, while VICI Properties owns the physical buildings.
The Power Players Behind Hollywood Casino Columbus: A Comprehensive Guide
The management and operations of Hollywood Casino Columbus are overseen by General Manager David L. Miller. In an interview with the Columbus Dispatch, Miller noted that the casino attracts a broad clientele base.
While not directly involved in the casino’s day-to-day operations, the Ohio Casino Control Commission plays a crucial role in the regulation of Hollywood Casino Columbus and other casinos in the state.
Breaking Down the Mystery: Who Really Owns Hollywood Casino Columbus
While Penn National Gaming has a majority stake in Hollywood Casino Columbus, the other investors have important shares as well. Gaming and Leisure Properties owns about 44.8% of the remaining shares, while VICI Properties owns about 5.1%.
In addition to these major investors, several other institutions also hold smaller shares in the casino. These include BlackRock, Vanguard, and Fidelity, among others.
The ownership structure of Hollywood Casino Columbus is significant because it impacts the decision-making process in the casino’s operations. Changes in the shares held by these players can also impact its governance structure in the future.
From Start to Success: The Journey of Hollywood Casino Columbus’ Owners
Hollywood Casino Columbus was developed and opened by Penn National Gaming. However, in 2013, the company spun off its real estate assets into an independent, publicly traded company called Gaming and Leisure Properties. Gaming and Leisure Properties then bought the real estate assets of Hollywood Casino Columbus and took ownership of the property.
The physical building of Hollywood Casino Columbus is owned by another publicly traded company, VICI Properties. VICI Properties was established in 2017 as a spin-off from Caesars Entertainment Operating Company. The company now owns over 20 casinos across the US, including Caesars Palace Las Vegas and Harrah’s Resort Atlantic City.
The Economics of Hollywood Casino Columbus: Who Profits and Who Owns
Hollywood Casino Columbus generates a considerable amount of revenue for its investors. In 2019, the casino reported over $225 million in total revenue.
The profits from Hollywood Casino Columbus are distributed among its shareholders based on their stakes. While Penn National Gaming has the majority stake, Gaming and Leisure Properties and VICI Properties also receive significant payoffs as well.
Besides, Hollywood Casino Columbus’ economic impact extends beyond its investors. In 2019, it provided employment for over 1,100 people and paid local taxes of over $15 million. The casino’s operations not only benefit its shareholders but also the local community and economy.
An Insider’s Look: The Owners of Hollywood Casino Columbus Speak Out
Zacks Equity Research interviewed Penn National Gaming CEO Jay Snowden in 2021. Snowden spoke at lengths about Penn National’s commitment to bringing innovation to its gaming experience and its overall growth strategy.
David L. Miller, the General Manager of Hollywood Casino Columbus, spoke recently about the adjustments the casino made in 2020 to address health and safety concerns around the COVID-19 pandemic. For example, the casino had to enforce physical distancing policies and required all staff and customers to wear masks when inside the establishment.
Ownership 101: Understanding the Investors Behind Hollywood Casino Columbus
In conclusion, the ownership of Hollywood Casino Columbus is multi-layered and complex, with Penn National Gaming, Gaming and Leisure Properties, and VICI Properties being its main players. While the distribution of profits depends upon the stakes held by each investor, the management and day-to-day running of the casino are overseen by General Manager David L. Miller. The casino’s economic impact goes beyond its investors as it contributes to employment opportunities, taxes paid into the local economy, and overall economic growth.
For those interested in learning more about casino ownership and investment, some valuable resources are the National Indian Gaming Association, American Gaming Association, and the World Casino Directory.
Understanding who owns Hollywood Casino Columbus is crucial to understanding how the casino operates and its economic impact on the community. The casino’s ownership structure has evolved over time, and several major investors have a significant stake in its success. However, the General Manager, David L. Miller, and the Ohio Casino Control Commission also play essential roles in the operations of the casino. We hope this article has shed light on the ownership structure of Hollywood Casino Columbus and its impact on the local community and economy.