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Penn National Gaming Acquires New Mexico Racetrack, Casino
Commercial Property News,
Tuesday, April 17, 2007 at 1:56:33 PM
Penn National Gaming Inc., a Wyomissing, Pa.-based owner and operator of casino and horseracing facilities, said today it has completed its $200 million acquisition of the Zia Park Racetrack and Black Gold Casino in Hobbs, N.M., the companyís first facility in the state.
The announcement came after the New Mexico Racing Commission and Gaming Control Board approved Penn Nationalís acquisition of the assets of Zia Partners L.L.C. The 320-acre eastern New Mexico facility has a thoroughbred and quarterhorse racetrack that runs 49 days of races. It also features approximately 750 slot machines in the Black Gold Casino. Also included in the sale are the Black Gold Buffet, the Black Gold Steakhouse and the Home Stretch Bar & Grill. The entire operations generated about $76.7 million in revenue last year, according to a release from Penn National.
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