Penn National Gaming has entered into a definitive agreement to acquire Bally’s Casino Tunica and Resorts Casino Tunica in the US state of Mississippi for approximately $44m.
Timothy J Wilmott, Penn’s president and CEO, said: “We are pleased to partner with Gaming and Leisure Properties to structure this tuck-in transaction which will be immediately accretive to our operating results upon closing. The acquisition will add two complementary casinos to our existing Hollywood Casino Tunica operations thereby presenting Penn National with the opportunity to benefit from a centralised local management structure.
“We intend to make modest cap-ex investments at the newly acquired casinos to elevate the guest experience while implementing our Marquee Rewards player loyalty programme to allow guests to access Penn National’s growing portfolio of properties, including our Tropicana Las Vegas resort.”
