The Pennsylvania buyer is putting up $6.5 million in cash forthe Bullwhackers Casino, Bullpen Sports Casino and Silver HawkSaloon and Casino. The purchase also includes an administrativebuilding and a 475-space parking area.
Penn National booked $132 million in revenues for the secondquarter from the Charles Town Races in Charles Town, WVA, twoMississippi casinos, Casino Magic Hotel, a resort and marina in baySt. Louis, MS, and other properties.
The Colorado Gaming Commission and other regulatory groups mustapprove the Black Hawk purchase. Black Hawk accounts for more than60% of the three gaming markets in Colorado. The deal is expectedto close in second quarter 2002.
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