Penn National Gaming Inc. said today that it has completed the purchase of a 44-acre site in Toledo, Ohio, on which it expects to open a casino.
The Wyomissing, Pa.-based company expects to open its $250 million Hollywood Casino Toledo in the second half of 2012.
The site was purchased by Toledo Gaming Ventures Inc., an Ohio corporation established by Penn National, from River Road Development, which acquired the property in 2006 after an environmental cleanup there.
Terms were not disclosed.
Ohio voters approved casino gambling in November.
Penn National owns and operates racetracks with slot machines in 15 markets, including Hollywood Casino in Grantville, Pa., and Freehold Raceway in New Jersey, and also is developing casinos in Kansas and Maryland. - Roslyn Rudolph