outlookindia0471   Album Posted Apr.19th, 2024, viewed 64 times

Penn National Gaming completes acquisition of Hollywood Casino Perryville

Penn National Gaming, Inc. today announced that it has completed the operational acquisition of Hollywood Casino - Perryville in Maryland. In December 2020, the Company entered into a definitive agreement with Gaming and Leisure Properties, Inc. to acquire the operations of Hollywood Casino Perryville for $31.1 million in cash. Today, the Company entered into a lease with GLPI for real estate assets related to the facility, with an annual rent of approximately $7.77 million. Penn National's acquisition was finalized by the Maryland Lottery and Gaming Commission on May 27, 2021.

"Pen National is excited to reenter the strong Maryland gaming market and once again run Hollywood Casino Ferryville, a property we developed in 2010. Today's acquisition of operational rights to Hollywood Casino Ferryville adds a 20th game jurisdiction to our main national position," said Jay Snowden, President and CEO of Penn National.

Penn National appointed Alie Evangelista to be the general manager of the Hollywood Casino Perryville. Mr. Evangelista most recently served as the general manager of Penn National's Hollywood Gaming at the Mahoning Valley Race Course in Ohio. Matt Heiskell, the current general manager of the Hollywood Casino Perryville, will now oversee operations at the company's Hollywood Casino Tunica and the 1st Jackpack Casino in Mississippi.

"We are excited to bring both our new and former teammates to the Pennsylvania National family and look forward to operating successfully amid what is expected to be an exciting time following the recent legalization of sports betting in Maryland. The acquisition provides another opportunity to expand our unique omnichannel platform as Pennsylvania National is expected to showcase Barstool Sportsbook-branded retail sportsbooks and mobile apps to players across Maryland at Hollywood Casino Perryville," Mr. Snowden concluded. 온라인카지노