Penn National Gaming, Inc. (NASDAQ: PENN) (Penn National or the Company) announced today that on May 18, 2020, the Company successfully reopened its five casino properties in Louisiana. The Company also announced that it plans to reopen its five casinos in Mississippi on Thursday, May 21, 2020, pending final regulatory approval. The reopened facilities represent over 25% of the Companys.
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Penn National Gaming Announces Reopening of Its 10 Casinos in Louisiana and Mississippi Article Stock Quotes (1) Comments (0) FREE Breaking News Alerts from StreetInsider.com!
New York-listed casino operator Penn National Gaming has reopened five of its properties in Louisiana and will open a further five casinos in Mississippi later today. The reopened facilities represent over 25 per cent of the company’s portfolio of regional casino assets, with casinos in Louisiana successfully reopening on Monday and Mississippi casinos scheduled to open Thursday.
Louisiana is reportedly the biggest market to resume gaming operations on Monday. The state had an estimated 15,000 people employed in gaming before the shutdown.
Atlantic City’s casinos took a long-term hit when Governor Phil Murphy ordered them to close in March. In turn, the loss of revenues from gaming and other tourism took a bite out of state agencies like the Casino Reinvestment Development Authority and the Casino Revenue Fund. But a bill that would offer Atlantic City casinos some relief from.