Penn National Gaming positions to have casino in Toledo

Jan 5, 2010 2:24 AM

Penn National Gaming Inc. (PENN) has wasted no time positioning itself to have the first Ohio casino operating in the city of Toledo.

It has only been several weeks since Ohio voters approved a new law that permits casinos in four major cities but already Penn National has acquired the property it plans to use for the Toledo casino.

The company’s $250 million casino is expected to open in the second half of 2012.

"Closing on the property moves us a major step closer to making Hollywood Casino Toledo a reality," said Eric Schippers, senior vice president of Penn National.

"We’re eager to move forward and excited that the project will bring thousands of construction and permanent jobs to the Toledo area, as well as tens of millions of dollars for the city of Toledo as well as all of the counties and school districts in northwest Ohio," he said.

The company also announced that Kenneth Schultz, vice president of design and construction, will oversee the project. Joining the company will be Richard Mitchell, a Toledo attorney, who will be in charge of the project’s legal affairs while Jay Black will head its diversity division.

Question? Comment? E-mail me at: Ray Poirier