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The Cordish Companies And Penn National Gaming Announce Union Agreements For Construction And Operation Of Live! Hotel & Casino New York

Stocks in this article: PENN

The Cordish Companies (“Cordish”) and Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National”) announced today that they have signed agreements with the Hudson Valley Building and Construction Trades Council and the Hotel and Motel Trades Council, AFL-CIO to work together to foster economic development in South Blooming Grove, Orange County, and the Catskills/Hudson Valley Region.

“We are excited to be partnering with Cordish and Penn and believe that the Live! Hotel & Casino project will create considerable opportunities for the working families of South Blooming Grove, Orange County, and throughout the region,” said Todd Diorio, President of the Hudson Valley Building and Construction Trades Council.

“The Hotel and Motel Trades Council is delighted to have reached a labor peace agreement with The Cordish Companies and Penn National Gaming and look forward to working with them to create good jobs with fair wages and benefits for New Yorkers,” said Peter Ward, President of the Hotel and Motel Trades Council.

“We are extremely proud to have both the Hudson Valley Building and Construction Trades Council and the Hotel and Motel Trades Council, AFL-CIO as partners for our economic development efforts in South Blooming Grove and across the region,” said David Cordish, Chairman and CEO of the Cordish Companies. “When we enter a community, our focus is always on building relationships at the local level, so we’re thrilled to be working with the two of the strongest and most effective labor organizations in New York.”

The Cordish Companies and Penn National Gaming’s proposed $750 million+ Live! Hotel & Casino New York will include an upscale boutique hotel with over 300 rooms and luxury suites; a destination spa and fitness center; over 3,000 slot machines; more than 250 live table games, including poker; several marquee restaurants including Bobby Flay Steak, Smorgasburg, The Cheesecake Factory, Fornino, and Bobby’s Burger Palace; as well as a live entertainment venue and a spacious conference center. The facility will serve as a regional economic engine, creating more than 4,000 permanent local jobs and nearly 3,000 construction jobs.

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