Penn National Gaming (Pen) Operator of Choice
Penn National Gaming (PENN: 30.68 +2.57%) has been selected by another developer hoping to win the rights to Pennsylvania’s remaining category 3 casino license.
Last week Bushkill Group finalized a deal with Penn to finance and manage its proposed Fernwood Resort if selected as the winning bidder by state regulators.
Bushkill originally filed an application with the state in 2007 which had been put on hold due to a lack of financing, however with the amended finance plan the application has been revived.
According to Bushkill’s president Andy Worthington, if approved Penn National will operate the facility under a management agreement as well as provide needed financing.
“I think that makes it a huge advantage for us. The gaming board knows them. And as a Category 3, we are really driving business from our guests, and the bulk of the business comes from out of state, which is what the state is looking for,” Worthington said.
Penn National has also entered into a deal with the proposed Mason- Dixon Resort & Casino also seeking the license.
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