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Argosy casino to be sold to Pennsylvania company

Monday, June 13, 2005 | 9:24 a.m.

SIOUX CITY, Iowa -- A Pennsylvania company has been given permission by state gambling regulators to buy the Argosy riverboat casino.

Wyomissing, Pa.-based Penn National Gaming Inc. has agreed to buy Argosy Gaming Co., of Alton, Ill., for _$2.2 billion. The purchase includes the Argosy Casino-Sioux City.

The casino, with 625 slot machines and 19 table games, is housed in a three-deck riverboat with 36,000 square feet of gambling space. The boat, refurbished for about _$20 million, arrived in Sioux City last summer to replace an older, smaller vessel.

The sale, approved by the Iowa Racing and Gaming Commission on Thursday, is expected to close later this year.

Argosy also has casinos in Louisiana, Illinois, Ohio and Missouri.

Penn National owns casinos in Mississippi, Colorado, Louisiana, West Virginia and Illinois and racetracks in Pennsylvania, West Virginia, New Jersey and Maine.

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