Penn National Gaming Names Todd George General Manager of Hollywood Casino Lawrenceburg
26 September 2012 - 12:00AM
Business Wire
Penn National Gaming, Inc. (Nasdaq: PENN) announced today that
subject to customary regulatory approvals, Todd George, 43, has
been named General Manager of Hollywood Casino Lawrenceburg. Mr.
George will join Penn National early in the fourth quarter of 2012
and will report to John Finamore, Senior Vice President Regional
Operations.
Mr. George has over 17 years of gaming industry experience in
major regional gaming markets and comes to Penn National following
12 years at Pinnacle Entertainment, including the last six years
during which he oversaw the $900 million development and launch of
Pinnacle’s two St. Louis properties. He most recently served as
Senior Vice President and General Manager of Pinnacle
Entertainment’s Lumière Place Casino & Hotels in St. Louis,
Missouri. Mr. George joined Pinnacle in 2000 as a controller at
Belterra Casino Resort and was named General Manager of Boomtown
Bossier City in 2003. He moved to St. Louis in 2006 on being named
Vice President and General Manager of Lumière Place Casino &
Hotels ahead of that property’s opening in December 2007. In
October 2009, Mr. George was named Regional Vice President of the
St Louis Region and General Manager of River City Casino and led
the property opening in March 2010. Mr. George moved back to
Lumière Place Casino & Hotels in September 2010 when he was
promoted to Senior Vice President and assumed the role of General
Manager. Prior to joining Pinnacle, Mr. George served in the
finance department at the Turning Stone Casino from 1995 to 2000.
He holds a Bachelor of Science degree in accounting from LeMoyne
College in Syracuse, NY.
John Finamore commented, “We believe Todd’s extensive regional
gaming market experience and knowledge of the greater Cincinnati
region make him the ideal person to lead Hollywood Casino
Lawrenceburg as the property evolves to face new competition in the
coming months. Todd will build on the strong foundation of success
at Hollywood Casino Lawrenceburg and drive further improvements in
operating performance. We expect Todd to be a local leader who will
foster deeper ties with the various community groups we work with
on a daily basis as he consistently demonstrated in St. Louis where
he served on several boards and participated in community service
initiatives.
“Hollywood Casino Lawrenceburg established itself as the
region’s top gaming entertainment destination with the opening of
its new 270,000 square foot, 4,400 gaming position vessel in 2009
and we believe Todd’s success with large-scale facilities in the
St. Louis market will help position Hollywood Casino Lawrenceburg
for long-term success. Furthermore, as Penn National works with the
City of Lawrenceburg to build and open the Lawrenceburg Event
Center, which will add 104,000 square feet of meeting space, a
1,800-seat concert venue, 180-room hotel, parking garage and river
view restaurant to the downtown area, we believe Todd’s deep
experience with project development initiatives will prove
invaluable in making Lawrenceburg a hub for regional
entertainment.”
About Penn National Gaming
Penn National Gaming, through its subsidiaries, owns, operates
or has ownership interests in gaming and racing facilities with a
focus on slot machine entertainment. The Company presently operates
twenty-seven facilities in nineteen jurisdictions, including
Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana,
Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New
Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In
aggregate, Penn National's operated facilities feature
approximately 31,700 gaming machines, 725 table games, 2,400 hotel
rooms and 1.35 million square feet of gaming floor space. Penn
National is currently developing a casino in Columbus, Ohio which
is expected to open October 8, and has agreed to acquire Harrah’s
St. Louis gaming and lodging facility from Caesars Entertainment
with the transaction expected to close in the fourth quarter of
2012.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Actual results may vary materially from expectations.
Although Penn National Gaming, Inc. and its subsidiaries
(collectively, the “Company”) believe that our expectations are
based on reasonable assumptions within the bounds of our knowledge
of our business and operations, there can be no assurance that
actual results will not differ materially from our expectations.
Meaningful factors that could cause actual results to differ from
expectations include, but are not limited to, risks related to the
following: our ability to receive and maintain, or delays in
obtaining, the regulatory approvals required to own, develop and/or
operate our facilities, or other delays or impediments to
completing our planned acquisitions or projects, including
favorable resolution of any related litigation, including the
recent appeal by the Ohio Roundtable addressing the legality of
video lottery terminals in Ohio and the lawsuit to protect our
interests in Iowa; our ability to secure state and local permits
and approvals necessary for construction; construction factors,
including delays, unexpected remediation costs, local opposition
and increased cost of labor and materials; our ability to receive
timely regulatory approval for and to otherwise complete our
planned acquisition of Harrah’s St. Louis (failure to do so could,
among other things, result in the loss of certain deposits); our
ability to successfully integrate Harrah’s St. Louis into our
existing business; our ability to reach agreements with the
thoroughbred and harness horseman in Ohio and to otherwise maintain
agreements with our horseman, pari-mutuel clerks and other
organized labor groups; the passage of state, federal or local
legislation (including referenda) that would expand, restrict,
further tax, prevent or negatively impact operations in or adjacent
to the jurisdictions in which we do or seek to do business (such as
a smoking ban at any of our facilities); the effects of local and
national economic, credit, capital market, housing, and energy
conditions on the economy in general and on the gaming and lodging
industries in particular; the activities of our competitors and the
emergence of new competitors (traditional and internet based);
increases in the effective rate of taxation at any of our
properties or at the corporate level; our ability to identify
attractive acquisition and development opportunities and to agree
to terms with partners for such transactions; the costs and risks
involved in the pursuit of such opportunities and our ability to
complete the acquisition or development of, and achieve the
expected returns from, such opportunities; our expectations for the
continued availability and cost of capital; the outcome of pending
legal proceedings; changes in accounting standards; our dependence
on key personnel; the impact of terrorism and other international
hostilities; the impact of weather; and other factors as discussed
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2011, subsequent Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K as filed with the SEC. The Company does
not intend to update publicly any forward-looking statements except
as required by law.
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