Penn National Gaming has finally completed the acquisition of Hollywood Casino Perryville. The definitive agreement was reached between the Penn National and GLPI in December 2020 with respect to this subject matter.
The Penn National has paid Gaming and Leisure Properties (GLPI) $31.1m in cash as per the agreement. The agreement stipulates lease terms between the two operators which would enable Penn National to take control of the real estate assets at the casino.
As per Gambling Insider, Jay Snowden, President and CEO of Penn National, said: “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. Snowden additionally noted that the acquisition of Hollywood Casino Perryville will add a “twentieth gaming jurisdiction to our leading nationwide footprint.”
Snowden added: “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 omnichannel platform, as we expect to introduce a Barstool Sportsbook-branded retail sportsbook at Hollywood Casino Perryville and mobile app to players across Maryland.”