Our team members are the lifeblood of our company
Our team members are the life blood of our Company. During the time our properties were temporarily closed as a result of the COVID-19 outbreak, we extended health benefits to all furloughed team members and provided $13 million in holiday cash bonuses to our non-executive team members companywide to help with the financial impact to their families. Meanwhile, our executives took significant pay cuts and sacrificed end-of-year performance bonuses.
Through our Penn National Gaming Foundation, we created a COVID-19 Emergency Relief Fund for our team members and raised over $4 million through personal donations from our CEO, Senior Management team, Corporate Board of Directors and property general managers, in addition to contributions from our Foundation and property employee assistance funds.
We also joined Barstool Sports Founder Dave Portnoy’s personal mission to help save and sustain small businesses which have been impacted by COVID-19, contributing more than $4.6 million, and counting, to the non-profit “Barstool Fund.” The Fund has raised tens of millions of dollars and is actively supporting more than 300 small businesses around the country.
This initiative is in addition to our collective effort in October to save the historic Reading Terminal Market in Philadelphia, which was suffering from decreased business as a result of COVID-19 and launched an online fundraising campaign to assist with its survival. Within 24 hours, Penn National and Barstool raised enough money to meet and exceed their fundraising goal. Our effort ensured the survival of an organization that supports family businesses, educational opportunities for low-income Philadelphia youth, and is one of the largest sites for the redemption of SNAP benefits in Pennsylvania.
Meanwhile, during the mandatory COVID-19 temporary closures, our 41 properties in 19 states throughout the country donated more than 45 tons of food to local food banks and homeless shelters in our communities, ensuring our perishable food items could help those in need at the height of the pandemic. In addition, our properties donated thousands of unused masks and surgical gloves to first responders and health care providers. Many of our properties served as COVID-19 test sites and housed emergency personnel, in addition to organizing food drives and blood donations.
Penn National Gaming Has Contributed Over $4.6 million to the barstool fund to support small businesses
Penn National Gaming is proud to support our partner Dave Portnoy and Barstool Sports in helping to sustain small business owners around the country who have been hard hit by the ongoing COVID-19 pandemic. Already, over $41 million has been raised to provide ongoing support to more than 443 businesses and counting. We look forward to joining the fight to help save our small main street businesses.
At the onset of the COVID-19 pandemic, our properties across the country stepped up to donate food items to our local communities, ensuring our perishables would go to the homes of our neighbors in need. In times of crisis, we come together. We support the communities in which we live and work.