AAEA supports the application.
Penn National Gaming and the Hollywood Casino Resort at Rosecroft Raceway, applicant for the Prince George's gaming license, has announced it will distribute 100% of its profits back to the Prince George's County community.
In an effort to provide the most benefit to the Prince George's County community, Penn National is amending its application to commit the following based on estimated earnings:
- $100 million between Years 2 through 10 will be distributed for the build out of the new Prince George's Hospital satellite neighborhood healthcare system;
- An estimated $219 million will be generated for Prince George's County educators in the form of a supplemental retirement plan between Years 2 through 15;
- $200,000 will be committed annually to community organizations and non-profits in the Prince George's County Council District 8.
Penn National Gaming, Inc. (PENN: Nasdaq) (the “Company”) submitted a proposal to the Maryland Video Lottery Facility Location Commission for a $700 million casino resort project to be constructed at the Company’s Rosecroft Raceway in Prince George’s County, Maryland. Originally opened in 1947, Rosecroft is located approximately 13 miles south of Washington, D.C. just outside the Washington Beltway.
Penn National’s proposed Hollywood Casino Resort at Rosecroft Raceway includes an integrated casino gaming and racing entertainment facility that will feature video lottery terminals (“VLT”); live table games; a poker room; a hotel with a pool and spa; a variety of food and beverage options; an entertainment and multi-purpose event center; a new grandstand facility; and, structured and surface parking. A rendering of Penn National’s proposed resort development is available at: www.rosecroft.com.
The Company expects the new project to generate approximately 4,600 direct and indirect construction jobs, and 2,600 permanent direct and indirect jobs. Penn National intends to schedule and execute the development of Hollywood Casino Resort at Rosecroft Raceway to allow for the uninterrupted operations of the track and its year-round horseracing meet. The Company has retained Urban Design Group, responsible for leading gaming and resort facilities – including four key Hollywood Casino projects as well as Four Winds Casino Resort in Michigan – as the architect of record for the proposed development.
Rosecroft Raceway is located approximately 13 miles south of Washington, D.C. on approximately 125 acres just outside the Washington Beltway in Prince George’s County, Maryland. Originally opened in 1947 and closed in 2010 following the end of live racing a year earlier, Penn National re-opened the facility in 2011 for live harness racing and race simulcasting. The current facility includes a 5/8-mile oval track, paddock area, a 53,000 square foot grandstand building and 96,000 square-foot three story clubhouse building with dining facilities.
About Penn National Gaming: Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities with a focus on slot machine entertainment. The Company presently operates twenty-nine facilities in nineteen jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities currently feature approximately 34,800 gaming machines, approximately 850 table games, 2,900 hotel rooms and approximately 1.6 million square feet of gaming floor space. (Business Wire, 5/10/2013)
Eric Schippers, 610-378-8321
Senior Vice President, Public Affairs
Joseph N. Jaffoni, Richard Land
Penn National Gaming
825 Berkshire Blvd.
Wyomissing, PA 19610