Penn also operates the M Resort in Henderson. agreed to buy the Tropicana from Gaming & Leisure Properties for $308 million. In April, Providence, Rhode Island-based Bally’s Corp. Penn already operates a Strip property, the Tropicana, which is owned by its real estate investment trust partner, Gaming & Leisure Properties. We’ll kick the tires if there’s something out there, we’re going to be disciplined in our approach and you know, yes, you’re going to have to pay a higher multiple for a Las Vegas Strip operating company than you would in most or all regional markets.”

“But we don’t think that such a strategic imperative that we would chase an asset or overpay. “It would be great to have an asset that we could create some retention value when (customers are) in Vegas,” Snowden said. He said Penn investors shouldn’t expect the company to overpay for a Strip property. No price tag or prospective buyer was named. Snowden was responding to an analyst’s question about the surprise announcement MGM made during its earnings call Wednesday that it intends to sell The Mirage. Penn was an unsuccessful bidder to acquire The Cosmopolitan of Las Vegas when MGM Resorts International snatched up the resort in late September for $5.65 billion. “If we were to find the right asset at the right location at the right price, of course we’d be interested.” is absolutely a strategic imperative for us and we’ve largely accomplished that goal.” “I think having representation across states throughout the U.S. “Generally speaking, I don’t think it’s imperative that we have a Las Vegas Strip asset given the approach we have around (developing an omnichannel operation),” Penn President, CEO and Director Jay Snowden said during the company’s third-quarter earnings call. Baskow/Las Vegas Review-Journal) National Gaming Inc.’s top executive on Thursday told investors that having a Strip property isn’t essential for the company’s strategy. Penn National Gaming operates The M Resort in Las Vegas.

Penn gaming casino las vegas