Penn National Promises Profits to Prince George’s

As reported in Philly.com, Penn National has promised 100 percent of profits to an educators’ retirement plan and a neighborhood health network in Prince George’s County, in exchange for the casino license there.  As described in the article, details on the Maryland deal were not available, however,

During a Maryland hearing Oct. 21, a Penn National executive was asked why the company would give away all of its profits, according to an account in  the Washington Post.  The response was that management fees and interest payments would provide “adequate return to our shareholders.”

For more information, see the full story from Philly.com.

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