Penn National's $230M Buy Of M Resort Approved

Law360, New York (June 1, 2011, 4:22 PM EDT) -- Penn National Gaming Inc. announced Wednesday that the company’s $230.5 million acquisition of M Resort LLC's Las Vegas-based casino and hotel has received final approval from Nevada regulators.

Wyomissing, Pa.-based Penn National first agreed to buy M Resort when it acquired the casino’s outstanding debt from Bank of Scotland PLC in October 2010. With the acquisition, approved by the Nevada Gaming Commission and State Gaming Control Board, M Resort will emerge as a financially sound, debt-free casino resort catering to both Las Vegas locals and tourists,...
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