Penn National Gaming plans New York casino
Penn National Gaming Inc. unveiled a new casino project in Orange County, N.Y., that will be a joint venture with a Maryland real estate development firm.
Penn National, which manages Hollywood Casino at Penn National Race Course in Dauphin County, announced the $750 million project Monday. The casino is called Live! Hotel and Casino New York and will create about 4,000 jobs, according to a news release.
The casino is a 50-50 joint venture between Penn National and The Cordish Cos., a Baltimore-based real estate development firm specializing in entertainment venues. The company recently designed the Xfinity Live complex in Philadelphia and also developed casinos in Maryland and Florida.
There will be a 300-room hotel at the casino, a spa and fitness area, 3,000 slot machines and 250 table games.
Gaming and Leisure Properties Inc., the real estate investment trust spun off from Penn National last year, is not involved in the proposal, according to Joseph N. Jaffoni, spokesman for Penn National. The trust has taken ownership of most of Penn National’s gaming properties while Penn National manages the casinos, but that is not the current plan on this project, Jaffoni said.
He also said there is no announced timeline for construction or for the casino opening. If New York awards the casino a license — a decision expected later this year, Jaffoni said — a start date for construction will be announced.
The casino will be in South Blooming Grove, N.Y., in the state’s Hudson Valley and Catskills region. It has the potential to attract gamblers from New York City and northern and central New Jersey, possibly siphoning gambling dollars from Pennsylvania casinos near the state’s eastern border.