The Pennsylvania Gaming Control Board on Thursday signed off onthe sale, following approval of the agreement by the PennsylvaniaHorse Racing Commission a month earlier. At the same time, the PGCBrevealed it had approved a change of control of the slots operatorlicense for the Hollywood Casino at Penn National Race Course inGrantville, PA.

Currently held by Mountainview Thoroughbred Racing Association,a Penn National subsidiary, the license will go to PNG AcquisitionCo., the Fortress/Centerbridge JV. The license transfer entailspayment of a $2.5 million fee to the PGCB, according to a releasefrom the board. A spokesman for Penn National tells GlobeSt.comthat the slots license approval was part of the PGCB's broaderapproval of the sale to PNG.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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