Unveiling the Truth: Who Really Owns Hollywood Casino St. Louis?
Located in Maryland Heights, Missouri, Hollywood Casino St. Louis is a popular destination for gamblers and entertainment seekers. With over 120,000 square feet of gaming space, multiple restaurants and bars, and a hotel, the casino draws in thousands of visitors each year. However, despite its popularity, many people are unaware of who actually owns the casino. In this article, we delve into the mystery and uncover the truth about the owners of Hollywood Casino St. Louis.
Behind the Scenes: The Secret Owners of Hollywood Casino St. Louis
One of the reasons why it’s challenging to pinpoint the exact owners of Hollywood Casino St. Louis is the secrecy surrounding the gambling industry. Many states, including Missouri, have laws that keep casino ownership information confidential. Additionally, some casino businesses often use management companies to shield the identities of the actual owners.
Due to the lack of transparency, speculations and rumors have arisen about who owns Hollywood Casino St. Louis. Some rumors suggest that the casino is owned by local politicians while others speculate it belongs to wealthy businesspeople with ties to organized crime.
However, we cannot rely on rumors to find out who owns the casino. Instead, we need to dig deeper and examine the legal structure of casino ownership to get a better understanding of the situation.
Decoding the Ownership Structure of Hollywood Casino St. Louis
Casinos are typically owned by a combination of entities. In the case of Hollywood Casino St. Louis, Penn National Gaming, a publicly-traded corporation, originally owned the casino. However, in 2019, Penn National sold the casino to a real estate investment trust (REIT) called Gaming and Leisure Properties(G&L).
G&L owns the physical property of Hollywood Casino St. Louis and leases it to a subsidiary of Penn National called Gaming and Leisure Services, which operates the casino. In essence, G&L is the landlord, while Penn National is the tenant-operator.
The ownership structure doesn’t end there. Like most casinos, Hollywood Casino St. Louis has several minority owners. These include various individuals, groups, and even local governments that own a small percentage of the casino.
Management companies, such as Gaming and Leisure Services, can also play a role in casino ownership. These companies provide management and consulting services to the actual owners, such as Penn National. They may even hold a small ownership stake in the casino. The involvement of management companies can obscure the identity of the true owners of the casino.
Did You Know? Hollywood Casino St. Louis Isn’t Owned by Who You Think
Many people may assume that Penn National Gaming still owns Hollywood Casino St. Louis. However, as we learned earlier, Penn National sold the casino to G&L in 2019. G&L is a publicly-traded REIT that specializes in leasing properties to casino operators, such as Penn National. G&L’s investors own shares in the REIT, making the ownership of the casino more widespread and complex.
The actual owners of Penn National, such as its CEO and board of directors, likely have a significant interest in the success of Hollywood Casino St. Louis. However, they are not the direct owners of the casino.
So, how was the truth uncovered? Journalists and investigators had to search through various legal documents, including property deeds, loan agreements, and corporate filings. Even then, the ownership structure may not be entirely clear, as management companies and trust structures can still obscure the identities of actual owners.
Uncovering the Players Who Own Hollywood Casino St. Louis
After extensive research, we can finally reveal the actual owners of Hollywood Casino St. Louis. According to the Missouri Gaming Commission, the majority owner of the casino is G&L, the REIT that owns the physical property of the casino. G&L’s investors, who own shares in the REIT, share in the ownership of the casino.
Minority owners of the casino include local governments and various individuals and groups, such as former St. Louis Cardinals slugger Mark McGwire, who reportedly owns a small stake in the casino.
Gaming and Leisure Services, a subsidiary of Penn National, operates the casino but does not hold a direct ownership stake. Nevertheless, Penn National Gaming likely has a significant interest in the success of the casino as one of its primary operators.
The Mysterious Owners of Hollywood Casino St. Louis Finally Revealed
Knowing who actually owns Hollywood Casino St. Louis is essential for accountability and transparency in the gambling industry. Unfortunately, the complexity of casino ownership structures and the lack of transparency can make it challenging to uncover the truth. However, with dedication and research, journalists and investigators can expose the actual players who own these casinos.
Casinos are significant economic players in their communities, and their owners should be accountable to the public. Transparency is essential to maintain public trust and prevent corruption in the industry. We should demand more transparency from those who own and operate these casinos to protect the integrity of the gambling industry.
Additional Resources
For more information about the ownership of Hollywood Casino St. Louis, consult the following sources:
- Missouri Gaming Commission
- The St.