Bushkill Counts On Penn National Gaming (PENN)

August 31, 2010, 4:49 am

The Bushkill Group and partner Penn National Gaming (PENN: 28.86 0.00%) will present plans for their proposed resort casino at the Fernwood Hotel & Resort in the Poconos this week in an attempt to win licensing approval.

A public input hearing on the plans for the Category III gaming license is scheduled for September 2.

This will be the second attempt to bring a resort casino to the 80 years old property. Two years ago the resorts owners attempted to win approval for a gaming license but was dismissed over the Pennsylvania Gaming Control Board’s concerns over Bushkill’s financial strength.

In this round, Bushkill has partnered with Penn National Gaming who has agreed in April to finance, develop and manage the casino if approved by the Board.

“We believe our proven record as operators of a successful resort with the addition of expertise by Penn National in gaming, will allow us to out perform the other applicants in Gaming Revenue and tax revenue to the state.,” said Bushkill Group spokeswomen Gina Bertucci.

Bushkill and Penn National are one of four applicants vying for the remaining license. Penn National Gaming also has a management contract with the Mason- Dixon Resort & Casino competing for the same license.

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