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 [...]
