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Penn Bids $50M For Unfinished Fontainebleau Project

Law360, New York (November 17, 2009) -- An affiliate of Penn National Gaming Inc. has put in a $50 million stalking horse bid for bankrupt Fontainebleau Las Vegas Holdings LLC's unfinished multibillion-dollar hotel and casino development on the Las Vegas Strip.

Fontainbleau filed a motion in the U.S. Bankruptcy Court for the Southern District of Florida on Monday seeking orders establishing bidding procedures for the sale of all or substantially all...

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