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Penn Nationwide Gaming to Shut Resorts On line casino Tunica
Penn Nationwide Gaming to Shut Resorts On line casino Tunica
By admin | 2019-04-17T13:47:47-04:00 April seventeenth, 2019 | Penn Nationwide Gaming | April 17, 2019
TUNICA, Miss. — Penn Nationwide Gaming, Inc. (“Penn Nationwide” or the “Firm”), immediately introduced plans to shut the Resorts On line casino in Tunica, Mississippi efficient June 30, 2019, topic to regulatory approvals.
Penn Nationwide acquired the operations of Resorts On line casino Tunica, together with Bally’s On line casino Tunica (subsequently renamed “1st Jackpot”), in March 2017. Penn Nationwide leases the underlying actual property related to the 2 casinos from Gaming and Leisure Properties, Inc. (GLPI: NASDAQ) (“GLPI”) pursuant to the phrases of the Firm’s present Grasp Lease with GLPI. As well as, Penn Nationwide operates Hollywood On line casino Tunica, positioned adjoining to Resorts On line casino.
“With our acquisition of Resorts On line casino as a part of the 2 property deal, we knew we have been buying an ageing barge in want of serious capital enhancements,” stated Al Britton, Penn Nationwide Sr. Vice President of Regional Operations. “Whereas we did all the things in our management to maintain the property worthwhile during the last two years, elevated competitors from latest gaming enlargement in Arkansas continues to drive the property’s enterprise volumes decrease. After exploring all viable options, we’re left with the troublesome determination to shut the enterprise.
“I need to thank the property’s practically 200 staff members for all their onerous work, loyalty and dedication to this property throughout what has been an prolonged interval of very troublesome working situations. We’ll be in search of alternatives for these staff members at our two different properties in Tunica, different space resorts, or at one in all our different 39 properties throughout the nation. I need to emphasize that regardless of this determination, Penn Nationwide stays dedicated to the Tunica market and continues to deal with the continuing profitable operations at our two remaining Tunica properties.”
About Penn Nationwide Gaming
Penn Nationwide Gaming owns, operates or has possession pursuits in gaming and racing amenities and video gaming terminal operations with a deal with slot machine leisure. Reflecting the latest acquisitions of Pinnacle and Margaritaville, the Firm operates 41 amenities in 18 jurisdictions. In whole, Penn Nationwide Gaming’s amenities function roughly 50,000 gaming machines, 1,200 desk video games and eight,400 lodge rooms. The Firm additionally presents social on-line gaming via its Penn Interactive Ventures division and has main buyer loyalty applications with over 5 million energetic clients.
Contact: Joseph N. Jaffoni, Richard Land
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