Press Release
| Penn National Gaming to Participate in UBS Leveraged Finance Conference on May 19 |
WYOMISSING, Pa., May 13, 2011 (BUSINESS WIRE) -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that its Chief Financial Officer, William J. Clifford, will participate in an audio webcast in conjunction with the Company's participation at the UBS Leveraged Finance Conference to be held at the Waldorf=Astoria on Thursday, May 19, 2011, at 9:15 a.m. ET. The webcast will be accessible at www.pngaming.com ("Financial Info"/"Events & Webcasts") or http://cc.talkpoint.com/ubsx001/051811a_im/?entity=7_F2XYXIU. Management's PowerPoint presentation will also be available at www.pngaming.com ("Financial Info"/"Executive Presentations") on Thursday, May 19, 2011, at 9:15 a.m. ET. Audio replays will be available on the Company's website following the conference and will be archived for 90 days. 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-five facilities in seventeen jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities feature over 27,000 gaming machines, over 500 table games, over 2,000 hotel rooms and over 1 million square feet of gaming floor space. Through a joint venture, Penn National is developing a full casino at Kansas Speedway in Kansas City, which is anticipated to open in the first quarter of 2012, and is also developing casinos in Toledo and Columbus, Ohio, with openings targeted for 2012. In October 2010, Penn National purchased all of the outstanding debt of The M Resorts LLC. The M Resort Spa Casino is situated on over 90 acres on the southeast corner of Las Vegas Boulevard. Penn National recently entered into an asset purchase agreement with The M Resorts LLC's equity owners that will allow the Company to convert its debt ownership into full equity, subject to, among other things, regulatory approvals. 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, 2010. 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, or delays in obtaining, the regulatory approvals required to own, develop and/or operate our facilities, or other delays or impediments to completing our planned acquisitions or 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 passage of state, federal or local legislation (including referenda) that would expand, restrict, further tax, prevent or negatively impact operations in or adjacent to the jurisdictions in which we do business (such as a smoking ban at any of our facilities) or in jurisdictions where we seek to do business; 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; the activities of our competitors and the emergence of new competitors; our ability to identify attractive acquisition and development opportunities and to agree to terms with partners for such transactions; the costs and risks involved in the pursuit of such opportunities and our ability to complete the acquisition or development of, and achieve the expected returns from such opportunities; our expectations for the continued availability and cost of capital; the maintenance of agreements with our horsemen, pari-mutuel clerks and other organized labor groups; the outcome of pending legal proceedings; changes in accounting standards; our dependence on key personnel; the impact of terrorism and other international hostilities; the impact of weather; and other factors as discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, 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. |