Penn National Gaming has completed its previously announced acquisition of the Hollywood Casino – Perryville in Maryland.
The Company entered into a definitive agreement with Gaming and Leisure Properties, Inc. in December 2020. It was to purchase the operations of Hollywood Casino Perryville for $31.1 million in cash. Today, the Company signed a lease with GLPI for the facility’s real estate assets with an annual rent of $7.77m.
“Penn National is glad to re-enter the thriving Maryland gaming market and to re-open Hollywood Casino Perryville. Also, today’s acquisition of the operations of Hollywood Casino Perryville expands our leading nationwide footprint by a twentieth gaming jurisdiction,” said Jay Snowden, President, and CEO of Penn National.