Penn National confirms casino purchases

Tuesday, Nov. 23, 1999 | 10:37 a.m.

THE ASSOCIATED PRESS

WYOMISSING, Penn. -- Penn National Gaming Inc. said Monday it plans to purchase all the assets of two Mississippi casinos from Hollywood Park Inc., a gaming and entertainment holding company based in Inglewood, Calif.

Terms were not disclosed for the purchase of the Casino Magic resort in Bay St. Louis and the Boomtown Biloxi casino.

Penn National, based in Wyomissing, Penn., owns and conducts betting at Penn National Race Course thoroughbred race track, Pocono Downs Racetracks, Charlestown Races and nine off-track wagering facilities in Pennsylvania.

The company posted $164.3 million of revenue in the last 12 months.

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