Thursday, December 25, 2014

Penn National, Cordish join for N.Y. gambling license

Penn National Gaming Inc. and the Cordish Cos., which are competing for Philadelphia's second casino license, said they joined forces to pursue a license in New York's Hudson Valley-Catskills region.

The companies said they would propose a $750 million casino and resort in South Blooming Grove, a small town in Orange County. The casino would operate under Cordish's Live! brand.

The partners in what would be a 50-50 joint venture are also weighing the possibility of pursuing a casino in the Albany, N.Y., region, where they would use Penn National's Hollywood Casino brand.

Penn National, of Wyomissing, Pa., this year won the single license for a Massachusetts slot parlor, beating out Cordish, of Baltimore, and the owners of Parx Casino.

Cordish and Parx owner, Greenwood Gaming & Entertainment Inc., are partners in a bid to win Philadelphia's second license.

- Harold Brubaker

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