Penn National's planned split gains more regulatory approvals


Penn National Gaming’s planned split in to two publicly traded companies gained four more state regulatory approvals this week, the regional casino operator announced.

Gaming boards in Pennsylvania, Missouri, Ohio, and Kansas approved the deal, in which Penn National would separate a portion of its 28 casinos and race track operations into a real estate investment trust (REIT). The properties would then be leased back to Penn National, which would operate the businesses.

Penn National owns M Resort, which would be placed into the REIT. Nevada gaming regulators signed off on the transaction in July. The split is expected to be completed by the end of the year.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.

 

Rules for posting comments

Comments posted below are from readers. In no way do they represent the view of Stephens Media LLC or this newspaper. This is a public forum. Read our guidelines for posting. If you believe that a commenter has not followed these guidelines, please click the FLAG icon next to the comment.