Penn National Gaming Issues Formal Submission to MA Gaming Commission for Plainridge Park Casino
Penn National Gaming (NASDAQ: PENN) today delivered its formal application to the Massachusetts Gaming Commission for a Category 2 gaming license for its proposed Plainridge Park Casino located in Plainville, MA. Penn National is proposing a $225 million fully integrated racing and gaming operation located at the current Plainridge Race Track.
Penn National's Plainridge Park Casino proposal includes a fully-integrated 106,000 square foot racing and gaming facility featuring live harness racing and simulcasting, a 44,260 square foot gaming floor with 1,250 slot machines, a high-end casual dining restaurant, the first-ever Doug Flutie Sports Bar, a four-venue food court, multi-purpose banquet room, entertainment lounge and casino bar, 1,620 structured and surface parking spaces, 26,000 square foot grandstand with box and reserved seats, and 13,000 square foot clubhouse with box seats. The project is expected to create 1,000 construction related jobs and employ over 500 people, more than 90% of whom will be hired from the local area.
“We are very excited to submit our formal application to the Massachusetts Gaming Commission, and are confident that our proposal will create the best opportunities in the Commonwealth for the sole Category 2 gaming license,” said Tim Wilmott, President and Chief Operating Officer of Penn National Gaming. “As the largest owner of both regional gaming and pari-mutuel racing facilities in the country, Penn National has established a strong track record of developing racing facilities into successful racing and gaming entertainment operations. Our facilities benefit local horsemen, local communities and all state residents through economic development leading to the creation of new jobs and new tax revenues.”
Conveniently located one exit west of the I-495 /I-95 interchange, the proposed Plainridge Park Casino facility is within a 10 minute drive of four major entertainment venues -- Gillette Stadium at Patriot Place, Wrentham Village Premium Outlets, TPC Boston, and the Comcast Center in Mansfield.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.