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PERRYVILLE, MD-Penn National Gaming, which has been selected by the Maryland Video Lottery Location Commission to develop and manage a video lottery terminal facility in Cecil County, has taken the first step to realizing that goal. It is purchasing 36 acres of land located here from Principio Iron Co. for $14.6 million. Fraser Forbes’ Steve Efantis and Rich Samit represented the buyer.

Penn National is planning to build a $97.5 million, 75,000 square foot Hollywood-themed facility located along Interstate 95 and bordering Pennsylvania and Delaware along the Chesapeake Bay. The facility is expected to open to the public in late 2010.

Another recent development occurred last month when Ocean Enterprise 589 at Ocean Downs won state approval to offer slots at Ocean Downs Racetrack. The company plans to convert Ocean Downs’ existing 34,000 square foot grandstand into a gaming area. The new casino is expected to be completed by Memorial Day 2010 initially housing up to 600 slot machines. The remaining 200 approved machines will be added within one year of the casino opening.

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