A Philadelphia-area businessman who started the company that became Penn National Gaming has died.

Peter D. Carlino died Friday at a Philadelphia hospital at age 92, Eric Schippers, a Penn National spokesman, said Monday.

Carlino was the first president of the Keystone Racing Association and helped form Keystone Race Track, which became Philadelphia Park, according to a company release.

Carlino bought Penn National Race Course in 1982, which led to the 1994 creation of Penn National Gaming.

The Wyomissing, Berks Co.-based company is now run by his son, Peter M. Carlino, with gaming operations across the country.

Penn National said the elder Carlino also served as chairman of the Philadelphia Redevelopment Authority under Mayor Frank Rizzo.

His survivors include eight children, 20 grandchildren and 24 great-grandchildren.