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Penn National expands into Michigan with $300m Greektown Casino-Hotel deal

15th November 2018 6:28 am GMT

New York-listed casino operator Penn National Gaming has entered into a definitive agreement to acquire Michigan’s Greektown Casino-Hotel in Detroit for $300m.

Penn National will acquire the resort from JACK Entertainment in a transaction financed through a combination of cash and debt.

Penn National chief executive Timothy Wilmott said the acquisition would further expand the company’s already diverse operating base with a facility that is “extremely well-positioned in one of the nation’s largest regional gaming markets”.

“At the same [...]

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