Penn National Gaming (PENN) Ready To Offer Backup Plan
Following Maryland’s Court of Appeals ruling that voters will decide the fate of the slots parlor at the Arundel Mills Mall, Penn National Gaming (PENN: 29.93 +3.10%) and MI Developments announced that are ready to pursue slot machines at the Laurel Park and Pimlico race courses if the referendum fails.
“We compliment the people of Anne Arundel County for persevering to ensure that the voice of the people will be heard at the ballot box in November,” stated Dennis Mills, Vice-Chairman and Chief Executive Officer of MID.
Penn National Gaming joined MI Developments as co-owners of the Maryland Jockey Club that operates the tracks earlier this month and plans to pursue the opportunity to offer Video Lottery Terminals at the tracks if the pending casino development at the center of community protest falls through.
Peter M. Carlino, Chief Executive Officer of Penn National commented, “The Maryland Jockey Club believes the potential to bring a VLT operation to a racing facility, rather than a retail mall location, will be instrumental in preserving Maryland’s rich racing heritage and the existing jobs and other economic benefits associated with the operation of the tracks. If Anne Arundel voters strike down County approved plans for a VLT facility at Arundel Mills mall in November, we are prepared to deploy our Company’s extensive racing and gaming industry knowledge and excellent financial resources to work with the local horsemen and community members and leaders in Laurel to advocate for a license to operate VLTs at Laurel Park.”
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