PENN negotiating development of Mass. Turnpike casino

May 14, 2012 7:48 PM

With two gaming giants (Wynn Resorts Ltd. and MGM Resorts International) having withdrawn from the action, Penn National Gaming Inc. (PENN) sneaked into the fray last week.

Reports in Massachusetts indicated that PENN officials were negotiating with the owner of a 280-acre plot of land near the Massachusetts Turnpike in Westfield as a potential site for a casino.

So far, the possibility of having PENN invest between $500 million to $750 million for a casino is sitting well with local officials. Westfield Mayor Daniel Knapik has been quoted as saying the investment would go a long way toward reducing property taxes and attracting other businesses.