Penn National Gaming, Inc., on Thursday said it has completed the previously announced acquisition of the operations of Hollywood Casino Perryville in Maryland.
In December 2020, Penn National entered a definitive agreement with Gaming and Leisure Properties, Inc., to acquire the operations of Hollywood Casino Perryville for $31.1m in cash.
Penn National said it entered into a lease with GLPI for the real estate assets associated with the facility, with annual rent of approximately $7.77m.
The Maryland Lottery and Gaming Control Commission gave its final approval to the transaction on May 27.
Penn National named Allie Evangelista as general manager of Hollywood Casino Perryville. She most recently served as GM at Penn National’s Hollywood Gaming at Mahoning Valley Race Course in Ohio.
Matt Heiskell, current GM of Hollywood Casino Perryville, now will oversee operations at the Penn National’s Hollywood Casino Tunica and 1st Jackpot Casino in Mississippi.
“Penn National is excited to re-enter the strong Maryland gaming market and to once again operate Hollywood Casino Perryville, a property we developed in 2010,” Jay Snowden, president and CEO of Penn National, said in a statement. “Today’s acquisition of the operations of Hollywood Casino Perryville adds a 20th gaming jurisdiction to our nationwide footprint.”
Snowden added Penn National is thrilled to welcome both new and former team members to the company. “We look forward to hitting the ground running in what promises to be an exciting time following the recent legalization of sports wagering in Maryland. This acquisition provides yet another opportunity for Penn National to expand our omni-channel platform as we expect to introduce a Barstool Sportsbook-branded retail sports book at Hollywood Casino Perryville and mobile app to players across Maryland.”
Penn National now operates 42 casino properties in 20 states, featuring approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, operating under brands including Hollywood, Ameristar and L'Auberge. The company’s wholly owned interactive division, Penn Interactive, operates retail sports betting across the portfolio, as well as online social casino, bingo, and online casino products.
In February 2020, Penn National entered a strategic partnership with Barstool Sports, whereby Barstool will exclusively promote Penn National’s land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience.
