- Carlucci, Most Recently General Manager of Hollywood Casino Tunica,
Will Direct Property’s Transition to Penn National’s Hollywood Brand -
WYOMISSING, Pa. & MARYLAND HEIGHTS, Mo.--(BUSINESS WIRE)--Jul. 11, 2012--
Penn National Gaming, Inc. (Nasdaq: PENN) announced today that subject
to customary regulatory approvals, Anthony Carlucci, 51, will serve as
Vice President and General Manager of Harrah’s St. Louis upon the
completion of Penn National’s acquisition of the facility, which is
expected to occur in the fourth quarter of 2012. Mr. Carlucci currently
serves as Vice President/General Manager of Penn National’s Hollywood
Casino Tunica and the Company has commenced a search to fill the General
Manager role at Hollywood Casino Tunica.
Penn National also announced the expiration of the waiting period under
the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended
(“HSR”), with respect to the proposed acquisition of Harrah’s St. Louis.
Following the completion of the acquisition, Penn National intends to
rebrand the property with its Hollywood-themed brand.
Over his nearly 30-year gaming industry career, Anthony Carlucci has
held various management positions starting in 1982 at Harrah’s Resort
Atlantic City. Carlucci moved within the Harrah’s organization and
served as Director of Food and Beverage at Harrah’s Metropolis in
southern Illinois from March 2001 to November 2002. He joined Argosy
Gaming Company (which was acquired by Penn National in 2005) in November
2002 and served as Director of Operations at Empress Casino Hotel in
Joliet, Illinois until 2007 when he was named Assistant General Manager
of Boomtown Biloxi. Since October 2009 he has served as General Manager
of Hollywood Casino Tunica. He is a registered Certified Public
Accountant (in Maryland).
Thomas P. Burke, Senior Vice President Regional Operations of Penn
National Gaming, commented, “Tony has been instrumental in Hollywood
Casino Tunica’s financial and operational success since becoming the
property’s General Manager nearly three years ago. He has expertly led
his team through a number of economic, weather-related and competitive
challenges while maintaining a strong focus on providing the customer
service and experience our guests have come to expect. As such, we
believe Tony is the ideal candidate to lead the planned addition of
Harrah’s St. Louis into Penn National’s Hollywood family and build on
the facility’s existing success and position in the attractive St. Louis
market. Under Tony’s guidance, Penn National looks to work closely with
Caesars, the existing local team and the community to ensure a seamless
transition for our customers, vendors and Missouri regulators.”
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in gaming
and racing facilities with a focus on slot machine entertainment. The
company presently operates twenty-seven facilities in nineteen
jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa,
Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New
Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and
Ontario. In aggregate, Penn National’s operated facilities currently
feature approximately 31,700 gaming machines, approximately 725 table
games, 2,400 hotel rooms and 1.35 million square feet of gaming floor
space. Penn National is currently developing a casino in Columbus, Ohio
targeted to open in fall 2012 and has agreed to acquire Harrah’s St.
Louis gaming and lodging facility from Caesars Entertainment with the
transaction expected to close in the second half of 2012.
Forward-looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Actual
results may vary materially from expectations. Penn describes certain of
these risks and uncertainties in its filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year ended December 31, 2011. Meaningful factors that could cause actual
results to differ from expectations include, but are not limited to,
risks related to the following: our ability to receive timely regulatory
approval for and to otherwise complete the planned acquisition,
including satisfaction of all conditions precedent set forth in the
definitive purchase agreement; the costs and risks of litigation and/or
exercise of remedies, including the loss of any deposits, as set forth
in the purchase agreement or otherwise in the event that the
transactions contemplated in the purchase agreement are not consummated;
our ability to obtain the financing on acceptable terms and rates
necessary to complete the planned acquisition; our ability to
successfully integrate such acquisition into our existing business and
to achieve the expected returns; our ability to receive, or delays in
obtaining, the regulatory approvals required to own, develop and/or
operate our facilities (which can result in lost revenue and forfeiture
of deposits), or other delays or impediments to completing our planned
projects, including favorable resolution of any related litigation; our
ability to secure state and local permits and approvals necessary for
construction; construction factors, including delays, unexpected
remediation costs, local opposition and increased cost of labor and
materials; the effects of local and national economic, credit, capital
market, housing, and energy conditions on the economy in general and on
the gaming and lodging industries in particular; and other factors as
discussed in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2011, subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K as filed with the SEC. The Company does not intend
to update publicly any forward-looking statements except as required by
law.
Source: Penn National Gaming, Inc.
Penn National Gaming, Inc.
William J. Clifford, 610-373-2400
Chief
Financial Officer
or
Jaffoni & Collins Incorporated
Joseph
N. Jaffoni, Richard Land
212-835-8500 or penn@jcir.com
