The Cordish Companies (“Cordish”) and Penn National Gaming, Inc.
(PENN: Nasdaq) (“Penn National”) announced today five marquee
dining establishments to be located at Live! Hotel & Casino New
York – Bobby Flay Steak, Bobby’s Burger Palace, The Cheesecake
Factory, Smorgasburg, and Fornino. In addition, the companies
announced a Local Business Partnership Program to promote
businesses and organizations in the Hudson Valley-Catskills
Region.
David Cordish, Chairman and CEO of The Cordish Companies, said:
“The Live! Hotel & Casino New York will provide customers with
a unique opportunity to experience some of the top names in
dining,” including:
Bobby Flay
Live! Hotel & Casino New York will feature two Bobby Flay
eateries – Bobby Flay Steak and Bobby’s Burger Palace. Bobby Flay
Steak will be a high-end, chic restaurant featuring a menu that
honors the traditions of classic steakhouse fare and incorporates
New York’s fresh produce. Bobby’s Burger Palace will feature an
array of burgers inspired by Chef Flay’s extensive travels
throughout America.
Smorgasburg
Smorgasburg will bring its expertise of collaborating with
hundreds of local vendors to create a farm-to-table dining
experience at Live! Hotel & Casino New York, highlighting the
best products from the region and throughout the state. Founded by
Eric Demby and Jonathan Butler, it has been called ‘The Woodstock
of Eating’ by the New York Times.
The Cheesecake Factory
With more the 150 locations across America, The Cheesecake
Factory will bring its menu of more than 200 scratch-made
selections and 50 legendary cheesecakes and specialty desserts to
the Catskills/Hudson Valley region.
Fornino
Dubbed the ‘First Chef of Brooklyn’ by the New York Times,
Michael Ayoub will bring his Neapolitan style of grilled pizza
making to Live! Hotel & Casino New York.
“In addition, with our Local Business Partnership Program, we’re
proud to generate new opportunities for businesses across the
Hudson Valley-Catskills Region,” said Cordish. The program includes
customized cross-marketing plans, patron discount programs,
advertising partnerships, and redemption of casino “loyalty points”
for each member. To date, nineteen businesses and organizations
have signed up as partners from across the region, and over 100
more have been contacted to join. Businesses and organizations
interested in becoming partners can learn more by visiting
www.livehotelcasinony.com/local-partners.
“Once our customers experience the great things this region has
to offer, they will come back time and again,” said Cordish. “We
have hit the ground running to ensure that each and every
interested business or organization has the opportunity to join us
in making that happen.”
The $750 million Live! Hotel & Casino New York will include
an upscale boutique hotel with over 300 rooms and luxury suites; a
destination spa and fitness center; over 3,000 slot machines; more
than 250 live table games, including poker; several marquee
restaurants including Bobby Flay Steak, Smorgasburg, The Cheesecake
Factory, Fornino, and Bobby’s Burger Palace; as well as a live
entertainment venue and a spacious conference center. The facility
will serve as a regional economic engine, creating more than 4,000
permanent local jobs and nearly 3,000 construction jobs.
Live! Hotel & Casino New York will be owned and managed by a
50/50 joint venture between The Cordish Companies and Penn National
Gaming who boast two of the strongest balance sheets in the
industry and a proven track record in operating regional gaming
facilities in highly competitive environments. The joint venture
companies have built more ground up casino facilities over the past
ten years than any other company in the country.
Live! Hotel & Casino New York renderings, additional
information about the project, and Facebook and Twitter sign up for
updates can be accessed at www.livehotelcasinony.com.
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 and
ultimately regulatory approval 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.
For more information, please visit:
www.livehotelcasinony.com.
The Cordish CompaniesCarmen E. Gonzales,
443-842-1992carmen.gonzales@marylandlivecasino.comorPenn National
GamingEric Schippers, 610-378-8321eric.schippers@pngaming.com
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