Penn National Gaming, Inc., owner of the Hollywood Casino in Perryville, Md., submitted a proposal to develop an $807 million, single-phase Hollywood-branded destination casino resort in Springfield, Mass. to the city of Springfield and the Springfield Redevelopment Authority.
Penn National is working in partnership with Peter Picknelly, CEO of Springfield-based Peter Pan Bus Lines, to construct its new facility on 13.4 acres of land in the north end of Springfield.
Armed with a healthy balance sheet, Penn National has been on the hunt for casino opportunities in smaller markets. It also snapped up the M Resort, outside the Las Vegas Strip as it entered the nation’s largest gaming market.
The Hollywood Casino in Perryville, in western Cecil County, has been struggling with competition from the newly opened MarylandLive casino in Baltimore, but is reportedly in talks to acquire a stake in that property. The casino also faces the challenge of a $6 toll required in crossing the Susquehanna River into the county.
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