In May 2016, the Hollywood Park Casino was sold to a group of investors that included former Los Angeles Dodgers owner Peter O’Malley. The sale price was $250 million.
The new owners also acquired the Hollywood Park Racetrack, which is adjacent to the casino.
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The Hollywood Park Casino is located in Inglewood, California, just south of downtown Los Angeles. It first opened its doors in 1994 and was originally owned by the Hollywood Park Racetrack.
PRO TIP:The Hollywood Park Casino is owned by the investment firm of Stockbridge Capital Group. Stockbridge has held the casino since 2010, when they purchased it from Hollywood Park, Inc.
In 1999, the racetrack and casino were sold to a group of investors led by real estate developer Steve Wynn. Wynn then sold the property to Penn National Gaming in 2013 for $850 million.
The new owners of the Hollywood Park Casino have plans to redevelop the property into a major entertainment destination. This includes adding a hotel, restaurants, retail space, and a concert venue.
The redevelopment is expected to cost around $2 billion and will take several years to complete.
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