Penn National Gaming In Discussions With Tewksbury, Massachusetts Town Officials To Develop Slot Parlor Budgeted At More Than $200 Million
Penn National Gaming, Inc. (Nasdaq: PENN) and the Town of Tewksbury
announced today they are in discussions regarding a slots-only facility
project, budgeted at more than $200 million, that would be located at
Penn National Gaming, Inc. (Nasdaq: PENN) and the Town of Tewksbury announced today they are in discussions regarding a slots-only facility project, budgeted at more than $200 million, that would be located at 300 Ames Pond Drive, near the intersection of Interstate 495 and State Route 133. Penn National’s proposal for the 30-acre site will include its marquee Hollywood casino brand, multiple dining options, and other amenities. “We are encouraged by the preliminary discussions we’ve had with town leadership and hope to quickly come to an agreement on a project that would bring significant economic benefits to Tewksbury and the entire Merrimack Valley region in the form of new jobs and revenue,” said Eric Schippers, Senior Vice President for Public Affairs at Penn National Gaming. “Penn National Gaming is one of the nation’s largest regional casino operators and has an established record of building strong community partnerships and delivering on their commitments,” said Richard Montuori, Tewksbury Town Manager. “We are excited about their interest in Tewksbury.” “The economic benefits to Tewksbury from a project of this size and scale would be substantial,” said Scott Wilson, Chairman of the Tewksbury Board of Selectmen. “This is an important economic development opportunity that we need to fully explore.” Penn National representatives will be presenting to Town Selectmen on Tuesday, July 16 at 7:00 p.m. Applications for the state’s sole slot license must be submitted to the Massachusetts Gaming Commission by October 4 th, 2013, following passage of a referendum in the applicant’s host community. About Penn National Gaming Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities with a focus on slot machine entertainment. The Company presently operates twenty-eight facilities in eighteen jurisdictions, including Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities currently feature approximately 34,500 gaming machines, approximately 850 table games, 2,900 hotel rooms and approximately 1.6 million square feet of gaming floor space.