“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.
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. (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. (PENN: Nasdaq) (“Penn National” or the “Company”) announced today that it entered into a definitive agreement with Gaming and Leisure Properties, Inc.
Provides Company with Access to Upcoming Sports Betting Market in Maryland
