Penn National Gaming completes Hollywood Casino Perryville acquisition
Penn National Gaming (PNG) has completed its acquisition of the operations of Hollywood Casino Perryville in Maryland in a deal worth $31.1m (£22.6m/€26.3m).
In December, PNG struck a deal with real estate investment trust (REIT) Gaming and Leisure Properties (GLPI) to acquire the casino operations in cash. The Maryland Lottery and Gaming Control Commission gave its approval to the transaction in May.
The deal also included a lease agreement with GLPI, for the real estate assets associated with the facility, with annual rent to be set at approximately $7.8m.
“Penn National is excited to re-enter the strong Maryland gaming market and to once again operate Hollywood Casino Perryville, a property we developed in 2010,” PNG president and chief executive Jay Snowden said.
“Today’s acquisition of the operations of Hollywood Casino Perryville adds a twentieth gaming jurisdiction to our leading nationwide footprint.”