CORRECTING and REPLACING Penn National Gaming Announces Details of Its $506 Million Bid for Illinois' Tenth Casino License - 2004-02-02
Penn National Gaming, Inc. (Nasdaq: PENN) today revealed details of its bid to buy the bankrupt Emerald Casino Inc. and build a new casino that would be transferred to the State of Illinois at opening and run by Penn National in the Chicago suburb of Rosemont.
According to the proposal submitted to the Illinois Gaming Board on January 19, Penn National would acquire 100 percent of the outstanding common stock of Emerald, which holds Illinois' tenth casino license, by merging a wholly-owned Penn National Illinois subsidiary into Emerald.
Read the full story at Business Wire