Penn National Selects Site for Permanent Slots Casino in Bangor, Maine
According to a recent report, Penn National Gaming Inc. and the city of Bangor, Maine, are on the verge of reaching an agreement, under which the gaming company would be allowed to construct a permanent slots casino on the site currently occupied by the Holiday Inn-Civic Center and the Main Street Inn.
The two hotels are reportedly large enough to house Penn's proposed 1,500-square-foot slots facility. Since the state's law prohibits Penn National from owning a slots gaming facility here, the company would have to purchase the site and hand it over to the city, which would then lease it back to Penn National. This was exactly the case with the temporary slots casino that the company plans to open soon.
The permanent slots casino project is expected to cost as much as $71 million. The two buildings would be torn down, and a new facility would be constructed instead. The casino is expected to open by the middle of 2007. A special meeting of the City Council was arranged for Monday to examine the deal offered by Penn.
