More than 40 Percent of Construction
Contracts Awarded to Date Went to Minority, Women, and
Veteran-Owned Businesses
The Massachusetts Gaming Commission (MGC) reported recently that
Penn National Gaming, Inc. (Nasdaq: PENN) (the “Company” or “Penn
National”) has far exceeded its construction diversity vendor goals
at the halfway point through construction of its $225 million
Plainridge Park Casino.
The project’s goals, which were approved by the MGC and reflect
current state project diversity goals, are 4% for minority-owned
businesses, 7% for women-owned businesses, and 3% for veteran-owned
businesses. To date, Plainridge Park Casino has awarded 13% of its
contracts to minority-owned businesses, 17% to women-owned
businesses, and 14% to veteran-owned businesses.
“We are proud to be supporting minority, women, and
veteran-owned businesses across our region and the Commonwealth,”
said Eric Schippers, Senior Vice President of Public Affairs. “Our
effort has resulted in over $25 million, out of $55 million in
contracts awarded to date, going directly to these businesses. Just
last week, a contract for over $7.5 million was awarded to
veteran-owned business Cox Engineering of Canton for the
installation of heating, ventilation, and air conditioning,” said
Schippers.
“This contract will provide considerable opportunities for our
veterans, and we are proud to play a role in the development of
Plainridge Park Casino,” said Jeff Chase, President of Cox
Engineering. “We are committed to helping our heroes find careers
after serving our country, and this will allow us to put more of
them back to work.”
Plainridge Park Casino is expected to open in June of next year,
creating 1,000 construction jobs and 500 permanent jobs in addition
to protecting the jobs of over 100 employees currently working at
Plainridge Racecourse.
“We hope that voters will say No to Question 3 at the ballot box
on November 4 and help us to continue to support small businesses
across the Commonwealth and to preserve the 6,500 construction jobs
and 10,000 good paying permanent jobs with benefits that our
industry will collectively generate,” concluded Schippers.
About Plainridge Park Casino
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 owns, operates or has ownership interests
in gaming and racing facilities with a focus on slot machine
entertainment. At June 30, 2014, the Company operated 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. At June 30, 2014, in aggregate,
Penn National Gaming’s operated facilities featured approximately
30,900 gaming machines, 790 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,” “plan” 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
potential construction delays, the ultimate location of other
gaming facilities in the state and, more significantly, the outcome
of the referendum to repeal gaming legislation in Massachusetts,
which could result in substantial litigation as well as a
significant loss to our investment in the state, 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.
Keyser Public StrategiesWill Keyser,
617-529-5849will@keyserpublicstrategies.com
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