Penn National in partnership with Cordish to pursue NY opportunity

The Cordish Companies and Penn National Gaming announced that they are combining efforts to seek a gaming facility and resort in Orange County, New York. Under the terms of an agreement being finalized by Cordish and Penn National, a Hudson Valley-Catskills Region facility would be owned and managed by a new 50/50 joint venture between the companies and would feature Cordish’s Live! brand. Cordish and Penn National are also weighing the feasibility of several potential sites in and around Albany in the Capital Region, which would feature Penn National’s Hollywood Casino brand.