Penn National Gaming Announces Reopening of Its 10 Casinos in Louisiana and Mississippi
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Casinos in
Louisiana successfully reopened onMay 18 ;Mississippi casinos scheduled to openThursday, May 21 - Reopened facilities represent over 25% of Penn’s leading portfolio of regional casinos
Penn National has implemented property-specific comprehensive social distancing and safety protocols, developed in close consultation with state regulators and public health officials. Examples of these procedures can be found at www.pngaming.com/covid-19. Additionally, each property that has received approval to reopen has provided more details for on-site health and safety protocols on its corresponding property website.
“As the largest operator of casinos in
The
Other states are beginning to prepare for the resumption of gaming operations, including
Snowden continued, “Penn National is very well-positioned to resume its positive momentum that was cut short in mid-March by the COVID-19 pandemic. Our geographic diversification across 19 states - with no more than 15% of our revenues being derived from any single state - should be a significant benefit as states begin to open casinos on a sequential basis.”
About
Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "expects," "believes," "estimates," "projects," "intends," "plans," "goal," "seeks," "may," "will," "should," or "anticipates" or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company's future financial results and business.
Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to, risks related to the following: (a) the magnitude and duration of the impact of the COVID-19 pandemic on capital markets, general economic conditions, unemployment, consumer spending and the Company's liquidity, financial condition, supply chain, operations and personnel; (b) industry, market, economic, political, regulatory and health conditions; (c) disruptions in operations from data protection breaches, cyberattacks, extreme weather conditions, medical epidemics or pandemics such as COVID-19, and other natural or manmade disasters or catastrophic events; (d) the reopening of the Company's gaming properties are subject to various conditions, including numerous regulatory approvals and potential delays and operational restrictions; ((e) actions to reduce costs and improve efficiencies to mitigate losses as a result of the COVID-19 pandemic could negatively impact guest loyalty and our ability to attract and retain employees;; and (f) other factors included in "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended
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