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Based on its selection, Penn National plans to exercise its option and complete the purchase of approximately 36 acres of land located in Perryville, from Principio Iron Company and shortly thereafter commence construction of a $97.5 million Hollywood-themed facility, inclusive of licensing fees, with 75,000 square feet of gaming space, 1,500 VLTs, food and beverage offerings and extensive parking. The facility is expected to open to the public in late 2010.
Peter M. Carlino, Chief Executive Officer of Penn National, said, "Our selection to develop a gaming facility in Cecil County reflects Penn National's long-term track record of creating unique, successful regional entertainment destinations. We are grateful to the Maryland Video Lottery Location Commission as well as to the town of Perryville and Cecil County officials for their efforts and ongoing support.
"The new facility -- to be located along Interstate 95 and bordering Pennsylvania and Delaware along the Chesapeake Bay, with proximity to the Baltimore metropolitan region -- will feature 1,500 VLTs, a 150-seat buffet, a coffee shop and parking for over 1,600 vehicles. With our expertise in developing properties that address local demand and deliver attractive returns, we believe our Cecil County project will expand our operating base and create sustainable economic benefits to the region and the state."
Penn National Gaming owns and operates gaming and racing facilities with a focus on slot machine entertainment.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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