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Penn National Gaming Receives Final Regulatory Approval to Acquire Operations of Hollywood Casino Perryville
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Penn National Gaming Launches Harold Cramer Memorial Scholarship Program to Assist Veterans Attending University of Pennsylvania Carey Law School – Consumer Electronics Net
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Provides Company with Access to Upcoming Sports Betting Market in Maryland
Penn National Gaming, Inc. (PENN: Nasdaq) ( Penn National or the Company ) announced today that it entered into a definitive agreement with Gaming and Leisure Properties, Inc. (GLPI: Nasdaq) ( GLPI ) to acquire the operations of Hollywood Casino Perryville in Maryland for $31.1 million in cash, subject to certain customary working capital adjustments. Simultaneous with the closing of the transaction, Penn National will enter into a lease with GLPI for the real estate assets associated with the Hollywood Casino Perryville facility with annual rent of approximately $7.77 million. Penn National is excited to acquire the operations of Hollywood Casino Perryville, a property we developed in 2010, which will allow us to re-enter the strong Maryland gaming market and add a twentieth gaming jurisdiction to our leading nationwide footprint, said Jay Snowden, President and CEO of Penn National.
Penn National Gaming to Acquire Hollywood Casino Perryville Operations – IT Business Net
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