The purchase also includes an administrative building and a 475-car parking area.
Together, Penn National would buy 63,000 sf of interior space with 1,002 slot machines and 16 gaming tables.
Penn National booked $132 million in revenues for the second quarter of 2001 form the Charles Town Races in Charlestown, WV, two Mississippi casinos, the Casino Magic Hotel, a resort and marina in bay St. Louis and other properties.
The Colorado Gaming Commission and other regulatory groups must approve the Black Hawk purchase. Black Hawk accounts for more than 60% of the three gaming markets in Colorado.
The deal is expected to close in the second quarter of 2002.
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