I know I said that I would post about Massachusetts until the November vote, but Plainridge Park Casino obviously has a crystal ball ( or maybe one of those “Magic 8 Balls”). The vote to repeal is obviously not going to happen – and Penn Gaming seems pretty sure. The final beam was raised and put into place at Plainridge Park Casino on Wednesday, despite a question on the November ballot that could halt the project.
This post is more about Penn Gaming than the Massachusetts Casino Repeal Vote.
Ground was broken for the $225 million slot machine parlor facility in March. Though the ceremony marked the completion of a major milestone for the project, there are still months of construction ahead and the the project is still on schedule to be completed in June 2015.
“There are some people out there who believe that we’re crazy to have spent so much money, so much time, so much energy on something that could be wiped away in a couple of months,” Eric Schippers, senior vice president of government relations for Penn National said. “We belive in the voters of Massachusetts.” If all goes according to plan, the facility is scheduled to open next June.
Penn Gaming’s stock continues to rise – figuratively & literally. Outside of Las Vegas, Penn Gaming continues to be aggressive in building’s it’s small empire. Penn seems to own the blue print of successful racinos, and is already looking to expand with a submitted a proposal to Maryland’s state’s gaming control agency for a $700-million Hollywood Casino Resort at its Rosecroft Raceway site for the next Maryland Casino in Prince George county. They already own the second-largest Maryland casino – the Hollywood Casino in Perryville.
And if that wasn’t enough action, Penn Gaming is teaming up The Cordish Cos., which runs Maryland Live in Hanover, the state’s largest casino, in hopes of opening a casino and resort in the Hudson Valley-Catskills area of New York.
The Company presently operates twenty-six facilities in seventeen jurisdictions, including Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario.
While other gaming companies are struggling, (Caesars Entertainmaent being a perfect example) Penn Gaming continues like the little gaming company that could – and will in Massachusetts if the casino law is not repealed.
That’s all for now.