Pitt Park lost half a million dollars in its first meet, leading its owners to sell the company to a group of investors, including Philadelphia insurance businessman Peter D. The first Pitt Park racing meet opened in 1971 at The Meadows, an existing harness racing track. Pitt Park Raceway, meanwhile, was denied in its initial application, but received one of a second round of licenses issued in 1970. The complex included a motor speedway, which held its first races in 1971, and the horse track, which opened in 1972. The Turf Club was awarded one of the licenses, and soon began construction on Penn National Race Course. Two companies that later formed part of Penn National Gaming were founded in 1968 by groups seeking one of the four available racing licenses: Pitt Park Raceway, Inc., formed by several Erie area businessmen, and the Pennsylvania National Turf Club, established by a group of Central Pennsylvania investors.

In 1967, Pennsylvania enacted a law allowing thoroughbred horse racing with parimutuel wagering. History Background and early history (1968–1994) Beginning: Pitt Park Raceway, Inc. It also offers sports betting in 15 jurisdictions and online casino gaming in 5, under brands such as ESPN and theScore.

It operates 43 properties in 20 states, under brands including Hollywood Casino, Ameristar, and Boomtown. Penn Entertainment, Inc., formerly Penn National Gaming, is an American entertainment company and operator of integrated entertainment, sports content, and casino gambling.

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