Penn National Plans to Reopen Casinos

17 February 2006

MISSISSIPPI – As reported by the Patriot News: "Penn National Gaming Inc. hopes to reopen its two Mississippi casinos destroyed by Hurricane Katrina before the end of the year.

"The company said Wednesday it plans to open a 30,000-square-foot temporary casino in Bay St. Louis, Miss., and reopen its barge in Biloxi, Miss., during the fourth quarter. Both casinos have been closed since Katrina came ashore last August.

"Insurance proceeds are expected to cover the costs of reopening both casinos.

"Peter M. Carlino, Penn National chairman and CEO, said the Biloxi barge is in transit for repairs. He said the goal is to return the barge to operation at the same location.

"Meanwhile, he said, the company is looking for land away from its current site for a possible new casino in Biloxi…"

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