Penn National Gaming, Inc. (PENN:NASDAQ) the licensee for the
Commonwealth of Massachusetts’ sole slots-only gaming license,
announced today that it will break ground and begin construction of
Plainridge Park Casino on Friday, March 14, 2014 at 2:00 pm ET.
“We are thrilled to begin construction of this new economic
engine for the Commonwealth of Massachusetts,” said Eric Schippers,
Senior Vice President of Government Affairs for Penn National
Gaming. “We look forward to celebrating this momentous occasion
with our employees, members of the community, and local and state
leaders who helped make this dream a reality.”
Penn National Gaming was awarded the gaming license on February
28, 2014. The Company sent invitations last week to the members of
the Massachusetts Gaming Commission, state legislators, town
officials and community leaders in Plainville, leaders of the
harness racing industry, town officials in the designated
surrounding communities of North Attleboro, Wrentham, Foxboro, and
Mansfield, local businesses, labor organizations, and local
non-profit organizations among others.
“Friday will mark the beginning of a long, prosperous
relationship between Penn National Gaming, the Town of Plainville,
surrounding communities, the harness racing industry, local
businesses and labor organizations, and the Commonwealth,” said
Schippers. “We are committed to creating strong partnerships
between each of these groups and Plainridge Park Casino.”
At the groundbreaking ceremony, Penn National Gaming will share
construction timelines, employment opportunities and upcoming
activities. In addition to the creation of an estimated 1,000
construction jobs, it is expected that Plainridge Park will result
in 500 new permanent jobs once completed. Media kits will be
provided at the venue and will be available 30 minutes prior to the
ceremony.
About Plainridge Park Casino
Penn National Gaming will be constructing a $225 million fully
integrated racing and gaming operation located at Plainridge
Racecourse, 301 Washington Street, Plainville, MA. Plainridge Park
Casino will include a fully integrated 106,000 square foot racing
and gaming facility featuring live harness racing and simulcasting
with 1,250 slot machines, an upscale casual dining restaurant, the
first-ever Doug Flutie Sports Bar, four-venue food court, harness
concourse bar, 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.
About Penn National Gaming
Penn National Gaming, through its subsidiaries, owns, operates
or has ownership interests in gaming and racing facilities with a
focus on slot machine entertainment. The Company presently operates
twenty-six facilities in seventeen jurisdictions, including
Florida, Illinois, Indiana, Iowa, Kansas, Maine, Maryland,
Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio,
Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn
National's operated facilities feature approximately 31,000 gaming
machines, 800 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,”
“expects,” “intends,” “may,” “will,” “should,” 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
ultimate location of the various other gaming facilities in
Massachusetts and the ongoing efforts in the state to repeal the
enabling legislation, 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.
Penn National Gaming, Inc.Saul V. Reibstein, 610-373-2400Chief
Financial OfficerorKeyser Public StrategiesWill Keyser,
617-529-5849will@keyserpublicstrategies.comorJCIRJoseph N. Jaffoni,
Richard Land212-835-8500penn@jcir.com
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