Penn National To Establish Penn Game Studio With Two Acquisitions - Quick Facts

(RTTNews) - Penn National Gaming, Inc. (PENN) announced Monday that it is acquiring HitPoint Studios, Inc. and its spun-off real money gaming company, LuckyPoint Inc., to established Penn Game Studios, an in-house content development team focused on creating exclusive iCasino content for its customers.

The company said this is another important step in its evolution into the leading omni-channel provider of retail and interactive gaming, sports betting and entertainment.

HitPoint is an independent game design and development studio founded in Massachusetts in 2008. HitPoint spun out LuckyPoint in 2019 to focus on real-money game development and the creation and operation of a remote gaming server.

The acquisition is expected to close in the near term, subject to the satisfaction of customary closing conditions.

Upon completion of the acquisition, the team of 30 employees from HitPoint and LuckyPoint will be integrated into Penn National's wholly-owned interactive division, Penn Interactive.