Penn National Gaming to Participate in J.P. Morgan Global High Yield & Leveraged Finance Conference on Tuesday, February 26
WYOMISSING, Pa.--(BUSINESS WIRE)--
Penn National Gaming, Inc. (PENN: Nasdaq) announced today that Chief
Financial Officer, William Clifford, will be making a company
presentation, including a discussion of its plan to pursue the
separation of its real estate assets from its operating assets, at the
J.P. Morgan Global High Yield & Leveraged Finance Conference on Tuesday,
February 26, 2013 at 11:00 a.m. ET. Mr. Clifford will also participate
in a question and answer session following his presentation at the
conference, which is being held at the Loews Miami Beach Hotel.
Management’s PowerPoint presentation will be available at www.pngaming.com
(“Investors”/“Presentations”) on Tuesday, February 26, 2013 at 11:00
a.m. ET.
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-nine 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 35,600 gaming machines, approximately 830 table
games, 2,900 hotel rooms and approximately 1.6 million square feet of
gaming floor space.
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. Although Penn National
Gaming, Inc. and its subsidiaries (collectively, the “Company” or
“PENN”) believe that our expectations are based on reasonable
assumptions within the bounds of our knowledge of our business and
operations, there can be no assurance that actual results will not
differ materially from our expectations. Meaningful factors that could
cause actual results to differ from expectations include, but are not
limited to, risks related to the following: the proposed separation of
PropCo from PENN, including our ability to timely receive all necessary
consents and approvals, the anticipated timing of the proposed
separation, the expected tax treatment of the proposed transaction, the
ability of each of the post spin Company and PropCo to conduct and
expand their respective businesses following the proposed spin-off, and
the diversion of management’s attention from traditional business
concerns; our ability to obtain timely 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, including the
appeal by the Ohio Roundtable addressing the legality of video lottery
terminals in Ohio; 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; our ability to successfully integrate
Harrah’s St. Louis into our existing business; our ability to reach
agreements with the thoroughbred and harness horseman in Ohio in
connection with the proposed relocations and to otherwise maintain
agreements with our horseman, pari-mutuel clerks and other organized
labor groups; 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 or seek to do business (such as a smoking ban at any of our
facilities); 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 (traditional and
internet based); increases in the effective rate of taxation at any of
our properties or at the corporate level; 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 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, 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.
Penn National Gaming, Inc. William J. Clifford, 610-373-2400 Chief
Financial Officer or JCIR Joseph N. Jaffoni, Richard Land 212-835-8500 penn@jcir.com
Press Release $PENN Penn National Gaming Inc.
WYOMISSING, Pa.--(BUSINESS WIRE)-- Penn National Gaming, Inc. (PENN: Nasdaq) announced today that Chief Financial Officer, William Clifford, will be making a company presentation, including a discussion of its plan to pursue the separation of its real estate assets from its operating assets, at the J.P. Morgan Global High Yield & Leveraged Finance Conference on Tuesday, February 26, 2013 at 11:00 a.m. ET. Mr. Clifford will also participate in a question and answer session following his presentation at the conference, which is being held at the Loews Miami Beach Hotel.
Management’s PowerPoint presentation will be available at www.pngaming.com (“Investors”/“Presentations”) on Tuesday, February 26, 2013 at 11:00 a.m. ET.
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-nine 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 35,600 gaming machines, approximately 830 table games, 2,900 hotel rooms and approximately 1.6 million square feet of gaming floor space.
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. Although Penn National Gaming, Inc. and its subsidiaries (collectively, the “Company” or “PENN”) believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations, there can be no assurance that actual results will not differ materially from our expectations. Meaningful factors that could cause actual results to differ from expectations include, but are not limited to, risks related to the following: the proposed separation of PropCo from PENN, including our ability to timely receive all necessary consents and approvals, the anticipated timing of the proposed separation, the expected tax treatment of the proposed transaction, the ability of each of the post spin Company and PropCo to conduct and expand their respective businesses following the proposed spin-off, and the diversion of management’s attention from traditional business concerns; our ability to obtain timely 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, including the appeal by the Ohio Roundtable addressing the legality of video lottery terminals in Ohio; 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; our ability to successfully integrate Harrah’s St. Louis into our existing business; our ability to reach agreements with the thoroughbred and harness horseman in Ohio in connection with the proposed relocations and to otherwise maintain agreements with our horseman, pari-mutuel clerks and other organized labor groups; 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 or seek to do business (such as a smoking ban at any of our facilities); 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 (traditional and internet based); increases in the effective rate of taxation at any of our properties or at the corporate level; 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 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, 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.
Penn National Gaming, Inc.
William J. Clifford, 610-373-2400
Chief Financial Officer
or
JCIR
Joseph N. Jaffoni, Richard Land
212-835-8500
penn@jcir.com
Source: Penn National Gaming, Inc.