Cordish Companies and Penn National Unveil Renderings and Additional Project Details for ‘Live! Hotel & Casino New York’
June 16 2014 - 7:12PM
Business Wire
The Cordish Companies and Penn National Gaming today released
details of their proposed “Live! Hotel & Casino New York.” The
$750 million project, located in Orange County, New York, in the
Village of South Blooming Grove, includes an upscale boutique hotel
with over 300 rooms and suites; a destination spa and fitness
center; over 3,000 slot machines; more than 250 live table games,
including poker; several marquee restaurants; as well as a live
entertainment venue and a spacious conference center. The property
will be owned and managed by a 50/50 joint venture between the
companies. For complete information, visit
www.livehotelcasinony.com.
The Cordish Companies and Penn National
Gaming today released details of their proposed "Live! Hotel &
Casino New York." The $750 million project, located in Orange
County, New York, in the Village of South Blooming Grove, includes
an upscale boutique hotel with over 300 rooms and suites; a
destination spa and fitness center; over 3,000 slot machines; more
than 250 live table games, including poker; several marquee
restaurants; as well as a live entertainment venue and a spacious
conference center. The property will be owned and managed by a
50/50 joint venture between the companies. For complete
information, visit www.livehotelcasinony.com (Photo: Business
Wire)
About the Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass
four generations of privately held, family ownership. During the
past ten decades, The Cordish Companies has grown into one of the
largest and most successful operators of entertainment districts
and concepts in the United States. Within its entertainment
portfolio, The Cordish Companies owns and manages several Live!
entertainment districts throughout the United States which welcome
over 50 million visitors every year and are the most visited
destinations in their respective regions. The Cordish Companies has
received international acclaim for its hospitality developments.
This division focuses on developing and operating best-in-class,
high-profile gaming and lodging destinations. The Cordish Companies
is proud to have developed several of the most successful gaming
and resort destinations in the world including the Seminole Hard
Rock Hotel & Casinos in Hollywood and Tampa, Florida; Maryland
Live! Casino in Hanover, MD and Charleston Place in Charleston,
SC.
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. Penn National Gaming presently
operates twenty-seven facilities in eighteen jurisdictions,
including Florida, Illinois, Indiana, Iowa, Kansas, Maine,
Massachusetts, Maryland, Mississippi, Missouri, Nevada, New Jersey,
New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario.
In aggregate, Penn National Gaming'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,”
“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 ability to obtain local support for
the project in New York; 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 Penn National Gaming’s behalf are
expressly qualified in their entirety by the cautionary statements
included herein. 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.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140616006601/en/
The Cordish CompaniesCarmen E.
Gonzales443/842-1992carmen.gonzales@marylandlivecasino.comorPenn
National GamingEric
Schippers610/378-8321Eric.schippers@pngaming.com
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