How Gambling Regulations Affect Players in Maryland
Gambling activities have been a talking point across the United States for years now, and while some states are rather open-minded about this form of entertainment, others continue to maintain their tough stance.
Maryland is certainly not among the US states that are hostile to gambling and keeps on building on the growth, which is driven by the industry. There are a number of regulated markets within the territory of the state, and as it seems, its residents support the idea of expanding the range of the legal forms of gambling further.
Brick-and-mortar Casinos in Maryland
Penn National Expands Barstool Brand Onward into Michigan and Indiana
Seizing momentum, PNG/Barstool begins operation in Michigan & Indiana for 2021
Timing should be excellent as Michigan re-opens casinos after government shutdown
Maryland on-deck for Penn National with the announced deal & plans to enter a new market
Penn National Gaming may have been a bit slow out of the sportsbook operating gate but seem to be gaining marketing share momentum now through their Barstool Sportsbook brand.
PNG will open Barstool sportsbooks located in three of its properties in Indiana and Michigan pending final regulatory approvals. Local customers at Detroit’s Greektown Casino in Michigan and Lawrencetown’s Hollywood Casino in Indiana will be able to enjoy sports wagering at these locations. A third sportsbook will be opening this week at Ameristar East Chicago in Indiana.
December 16, 2020
American casino firm Penn National Gaming Incorporated has announced the signing of a deal that is to see it spend $31.1 million so as to take over the running of operations inside Maryland’s small Hollywood Casino Perryville.
The Wyomissing-headquartered firm used an official Tuesday press release to proclaim that the arrangement with the Gaming and Leisure Properties Incorporated real estate investment trust (REIT) it spun off in November of 2013 is expected to close next summer ‘subject to the approval of the Maryland Lottery and Gaming Control Commission’ and also involves an annual rent commitment for the around 75,000 sq ft property of approximately $7.7 million.
Penn National enters Maryland through Hollywood Casino deal
15th December 2020
| By Richard Mulligan
Penn National Gaming is to enter the Maryland market ahead of the introduction of legal sports betting in the state after agreeing a deal to acquire the operations of Hollywood Casino Perryville.
Under the terms of the $31.1m deal, Penn will enter into a lease with Gaming and Leisure Properties (GLPI) for the real estate assets associated with the 75,000 sq ft facility with annual rent of approximately $7.77m.
The transaction – which sees Penn expand into a 20
th US state is expected to close in mid-2021, subject to the approval of the Maryland Lottery and Gaming Control Commission and other customary closing conditions.
Share:
Provides Company with Access to Upcoming Sports Betting Market in Maryland
Penn National Gaming, Inc. (PENN: Nasdaq) ( Penn National or the Company ) announced today that it entered into a definitive agreement with Gaming and Leisure Properties, Inc. (GLPI: Nasdaq) ( GLPI ) to acquire the operations of Hollywood Casino Perryville in Maryland for $31.1 million in cash, subject to certain customary working capital adjustments. Simultaneous with the closing of the transaction, Penn National will enter into a lease with GLPI for the real estate assets associated with the Hollywood Casino Perryville facility with annual rent of approximately $7.77 million. Penn National is excited to acquire the operations of Hollywood Casino Perryville, a property we developed in 2010, which will allow us to re-enter the strong Maryland gaming market and add a twentieth gaming jurisdiction to our leading nationwide footprint, said Jay Snowden, President and CEO of Penn National.