---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-22-000043"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2022-10-11T23:59:59+00:00"
generated_at: "2026-06-23T04:37:22.684347+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PENN Entertainment signs term sheet with GLPI for $575M funding to develop four casino/hotel projects

## Summary
- Plans land-based relocations in Aurora ($360M budget) and Joliet ($185M), plus hotels at Columbus ($100M) and M Resort ($206M).
- GLPI to fund up to $575M: $225M for Aurora at 7.75% cap rate, up to $350M for other projects at market rates.
- New master lease effective Jan 1, 2023, covering 7 properties with $232.17M base rent, cross-defaulted with existing master lease.
- Aurora development includes city funding up to $50M via bond issuance, subject to council and regulatory approvals.
- Construction on all projects expected to begin in late 2023, subject to municipal and gaming approvals.

## SEC filing metadata
- accession: 0000921738-22-000043
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2022-10-11T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000092173822000043/0000921738-22-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173822000043/penn-20221009.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-22-000043
- JSON: https://secwatch.observer/filing/0000921738-22-000043.json
- Plain text: https://secwatch.observer/filing/0000921738-22-000043.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.