Penn National Gaming has finalised the acquisition for the operations of Hollywood Casino Perryville, following approval from the Maryland Lottery and Gaming Control Commission.
Entering into a definitive agreement in December last year with Gaming and Leisure Properties, the company agreed a $31.1m cash deal to acquire the operations of the Hollywood Casino Perryville.
As of today, Penn National Gaming has entered into a lease with GLPI for the real estate assets associated with the facility, with annual rent approximately $7.77m.
“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,” said Jay Snowden, president and CEO of Penn National. “Today’s acquisition of the operations of Hollywood Casino Perryville adds a twentieth gaming jurisdiction to our leading nationwide footprint.”
Penn National has named Allie Evangelista as general manager of Hollywood Casino Perryville with Evangelista most recently serving in the same role at Penn National’s Hollywood Gaming at Mahoning Valley Race Course in Ohio.
Moreover, Matt Heiskell, current general manager of Hollywood Casino Perryville, will now oversee operations at the company’s Hollywood Casino Tunica and 1st Jackpot Casino in Mississippi.
Snowden concluded: “We are thrilled to welcome both new and former team members to the Penn National family, and look forward to hitting the ground running in what promises to be an exciting time following the recent legalisation of sports wagering in Maryland.
“This acquisition provides yet another opportunity for Penn National to expand our unique omni-channel platform as we expect to introduce a Barstool Sportsbook-branded retail sports book at Hollywood Casino Perryville and mobile app to players across Maryland.”
