Business Services Industry
Pennsylvania's Penn National Gaming to Buy Hollywood Casino Corp. of Dallas.
Knight Ridder/Tribune Business News, August, 2002
Reading Eagle, Pa. Knight Ridder/Tribune Business News
Aug. 8--The Wyomissing-based company will acquire Hollywood Casino Corp. for about $780 million.
Penn National Gaming Inc., Wyomissing, said Wednesday it has agreed to acquire Hollywood Casino Corp., Dallas, Texas, for about $780 million, or $12.75 per share, in a deal it said will make it the seventh-largest public gaming firm in the nation.
The company said the deal, already approved by the boards of both firms, includes assuming about $569 million of Hollywood and its subsidiaries' long-term debt.
The firm owns and operates Hollywood-themed casino-entertainment facilities in Aurora, Ill.; Tunica, Miss.; and Shreveport, La.
"The acquisition of these well-established...
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