Jamul Indian Village & Penn National Gaming Announce Completion of $36 Million Site Excavation Phase for Hollywood Casino Jam...
December 17 2014 - 5:00PM
Business Wire
Jamul Indian Village of California (“JIV”) and a wholly owned
subsidiary of Penn National Gaming (NASDAQ:PENN) (“Penn National
Gaming”), today celebrated the completion of the $36 million site
excavation phase for the proposed $360 million Hollywood Casino
Jamul-San Diego on JIV’s reservation in Jamul, California,
approximately 20 miles east of downtown San Diego.
JIV and Penn National Gaming began the removal of more than
452,000 tons of rock and soil from the construction site in
February and it was recycled for use throughout the region. The
process required approximately 85,000 shift hours by construction
workers to complete the excavation. Construction of the foundation
has begun for the casino and the enclosed below grade parking
structure, which will offer more than 1,800 spaces.
“Today is another important milestone on our path to economic
self sufficiency,” said Raymond Hunter, Chairman of the Jamul
Indian Village of California. “I am proud to be standing on the
foundation of an economic engine that will ultimately generate high
quality education, healthcare, and sufficient housing for our
tribal members.”
Hollywood Casino Jamul-San Diego, projected to open in 2016, is
expected to include a three-story gaming and entertainment facility
of approximately 200,000 square feet, featuring over 1,700 slot
machines, 50 live table games, multiple restaurants, bars and
lounges. The exterior will feature earth tones and downcast
lighting to integrate with the surrounding area, while the interior
will blend tasteful but glamorous elements from Hollywood’s Golden
Era. The project is expected to create approximately 2,500
construction and permanent jobs, with up to 90% of the permanent
jobs going to citizens in Jamul and surrounding communities.
The project includes state-of-the-art water reclamation
treatment and reuse technology to conserve resources and improve
groundwater quality. JIV will contribute to funding for fire
protection services for the area and have committed millions of
dollars to benefit San Diego County, including $15 million for
traffic mitigation and safety improvements to SR 94 and ancillary
roads.
“We remain committed to working constructively with the County
on an intergovernmental agreement and with state, county, and local
public agencies to minimize off-reservation impacts,” said Hunter.
“We also look forward to generating new employment opportunities
for area residents and new revenue for local and state government,
and charitable causes in Jamul and surrounding communities.”
About Jamul Indian Village of California (JIV)
The Kumeyaay Nation of Southern California can be traced back
12,000 years with first European contact occurring at San Diego Bay
in 1524. Jamul Indian Village of California, one of 13 bands of the
Kumeyaay Nation federally recognized as a sovereign nation, traces
its roots to these natives. Jamul Indian Village of California
strives to provide a greater quality of life for its people by
providing educational opportunities, health care and employment
opportunities today to open the doors of tomorrow. Jamul Indian
Village of California entered into a 1999 Tribal-State compact in
October 1999 with then Governor Davis. For more information about
JIV, please visit www.jamulindianvillage.com.
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, Kansas, Maine, Maryland, Massachusetts,
Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio,
Pennsylvania, Texas, West Virginia, and Ontario. At September 30,
2014, Penn National Gaming's operated facilities featured
approximately 31,000 gaming machines, 760 table games and 3,100
hotel rooms.
Forward-Looking Statements for Penn National Gaming
This press release includes “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning the construction, opening and operation of Hollywood
Casino Jamul. These statements include forward looking terminology
such as “expects,” “believes,” “estimates,” “expects,” “intends,”
“may,” “will,” “should,” or “anticipates” 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 the project, JIV and Penn National Gaming and its
subsidiaries, and, accordingly, any forward looking statements are
qualified in their entirety by reference to the risk 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. In addition to typical risks
for large development projects of this type, the following
particular risks apply in this instance: particular risks with
financing a project of this type, the complexities of constructing
on a relatively small land parcel, the risks involved with
sovereign immunity, local opposition, current and potential future
litigation, and pending regulatory and construction related
approvals from a variety of state, local and federal agencies. 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 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,
except as required by law.
MJE MarketingMarlee J.Ehrenfeld,
619-682-3841Marlee@mjemarketing.comorPenn National GamingEric
Schippers, 610-373-2400Eric.Schippers@pngaming.com
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