AUSTINTOWN, Ohio & WYOMISSING, Pa.--(BUSINESS WIRE)--Aug. 6, 2014--
Penn National Gaming, Inc. (NASDAQ:PENN) (“Penn National”) announced
today that pending final regulatory approval, Hollywood Gaming at
Mahoning Valley Race Course will open its doors to the public on
Wednesday, Sept. 17, bringing top-flight gaming and entertainment and an
economic boost to the Mahoning Valley region.
“We’re thrilled to be able to set our opening date for this new,
state-of-the-art regional destination offering premier gaming, dining,
racing and entertainment options,” said Tim Wilmott, President and Chief
Executive Officer of Penn National Gaming. “Located at one of the
nation’s busiest freeway interchanges at I-80 and Ohio Route 46 in
Austintown, Hollywood Gaming at Mahoning Valley Race Course will provide
our guests with a variety of memorable experiences in an exciting, high
energy setting.
“In addition, we’re proud of the economic opportunities we’re bringing
to the Mahoning Valley,” Wilmott said. “With 400 permanent employees,
we’ll be a significant employer in the region. And we believe the
facility is already serving as a catalyst for additional economic
development in the area and will continue to spur economic growth in the
future.”
Mike Galle, General Manager of Hollywood Gaming at Mahoning Valley Race
Course, said, “We’re already in high gear and look forward to welcoming
guests with a unique gaming and entertainment experience for this
region. The building itself is nearing completion, we’re continuing to
build our team, and we anticipate large crowds when we open the doors on
Wednesday, Sept. 17.
“Our opening will also mark the culmination of a project that has
enjoyed strong support from the community, from elected officials, from
our business partners, from our construction team and from the hundreds
of local construction workers and vendors who are building Hollywood
Gaming. We’re deeply grateful for their efforts, which have been
instrumental in bringing us to this point,” Galle said.
Hollywood Gaming at Mahoning Valley Race Course will celebrate a second
grand opening on Monday, Nov. 24, when thoroughbred racing begins on the
new one-mile all-weather racetrack.
The $250 million development is located on Ohio Route 46 (N.
Canfield-Niles Road) just south of Interstate 80 and convenient to the
Ohio Turnpike, Interstate 680 and Ohio Route 11. The gaming floor will
open with 850 Video Lottery Terminals (VLTs) and a wide variety of
dining and entertainment options for patrons. The adjacent racetrack
grandstand includes more than 1,000 enclosed seats and a simulcast
theater that will allow race fans to wager on races at tracks throughout
North America.
Once its doors open on Sept. 17, Hollywood Gaming at Mahoning Valley
Race Course will be open 24 hours a day, seven days a week.
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. At
June 30, 2014, the Company operated twenty-seven facilities in eighteen
jurisdictions, including Florida, Illinois, Indiana, Iowa, Kansas,
Maine, Massachusetts, Maryland, Mississippi, Missouri, Nevada, New
Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and
Ontario. At June 30, 2014, in aggregate, Penn National Gaming’s operated
facilities featured approximately 30,900 gaming machines, 790 table
games and 2,900 hotel rooms.
Forward-Looking Statements
This press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements can be identified by the use of forward looking terminology
such as “expects,” “believes,” “estimates,” “intends,” “may,” “will,”
“should,” “plan” or “anticipates,” or the negative or other variation of
these or similar words, or by discussions of future events, strategies
or risks and uncertainties. Such forward looking statements are
inherently subject to risks, uncertainties and assumptions about Penn
National Gaming and its subsidiaries, including risks related to the
potential construction delays and pending litigation involving the
legality and location of video lottery terminals at tracks and
accordingly, any forward looking statements are qualified in their
entirety by reference to the factors described in Penn National Gaming’s
Annual Report on Form 10-K for the year ended December 31, 2013,
subsequent Quarterly Reports on Form 10-Q and Current Reports on Form
8-K as filed with the Securities and Exchange Commission. All subsequent
written and oral forward looking statements attributable to Penn
National Gaming or persons acting on the Company’s behalf are expressly
qualified in their entirety by the cautionary statements included in
this press release. Penn National Gaming undertakes no obligation to
publicly update or revise any forward looking statements contained or
incorporated by reference herein, whether as a result of new
information, future events or otherwise, except as required by law. In
light of these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release may not occur.
Source: Penn National Gaming, Inc.
MEDIA:
For Penn National Gaming, Inc.
Bob Tenenbaum,
614-313-2315
btenenbaum@themilenthalgroup.com
or
Scott
Frost, 330-272-9605
Scott.Frost@pngaming.com