Jay Snowden, Chief Executive Officer and President of PENN Entertainment, commented: “We are delighted to announce these exciting new growth projects, which we expect will generate strong free cash flow returns and create long-term value for our shareholders.
(“PENN” or the “Company”) (Nasdaq: PENN) announced today that it intends to relocate its riverboat casinos in Aurora and Joliet, Illinois to new land-based facilities and to build a new hotel at Hollywood Columbus in Ohio and a second hotel tower at the M Resort in Henderson, Nevada. Company to Amend Master Lease with Gaming and Leisure Properties to Facilitate and Fund up to $575 Million of the Approximately $850 Million Overall Project Budget
