An agreement was made with Ohio's state government and Penn National Gaming to
continue with plans for new casinos in Toledo and Columbus. The agreement was
made last week.
The negotiated deal consists of a multi year plan. It was agreed that Penn
National would pay $110 million to Ohio in 10 years. The state in return would
use the commercial activity tax on wagers and not on payouts. This would be
instead of wagers only.
It is also being considered by the state to move the locations of the current
horse racing permits. Penn National would like to have the track moved to Dayton
instead of Columbus. Penn National also has plans to sell its interest of the
Maryland Jockey Club. The club owns Laurel Park as well as Pimlico Race Course.
Currently there are 26 casinos operated by Penn National Gaming. They are
located in 17 states as well as in Canada.
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