Tuesday, July 28, 2015

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

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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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