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Owner of Argosy casino takes buyout for $6.1 billion
Kansas City Star,
Saturday, June 16, 2007 at 8:30:39 AM
The company that owns the Argosy Riverside Casino and Hotel has agreed to be acquired by private investors for $6.1 billion in cash.
Penn National Gaming, with net revenue of $2.2 billion in 2006, has 17 other casinos and racetracks stretching from Maine to New Mexico and in Ontario, Canada.
Penn spokesman Eric Schippers said Friday that no management changes, from the top down, or employee layoffs were expected.
Schippers said the company also remains committed to projects in the pipeline, including Pennís proposal to manage a state-owned casino in southeast Kansas.
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