Spend A Penny

American casino and gaming operator Penn National Gaming have just completed the purchase of a 44-acre site in Toledo, Ohio.

The Miami Street site is set to be transformed into a mega gambling complex which will cost an estimated $250 million. Under the state’s new constitutional vote Toledo is now permitted another gaming license which means the new Hollywood Casino is one step closer to becoming a reality. Eric Shippers, senior vice president of Penn National Gaming, commented after the purchase: "Closing on the property moves us a major step closer to making Hollywood Casino Toledo a reality.

We're eager to move forward and excited that this project will bring thousands of construction and permanent jobs to the Toledo area, as well as tens of millions of dollars for the city of Toledo as well as all of the counties and school districts in north-west Ohio."

This latest move will no doubt come as a welcome boost to the state as the revenue a new casino can generate will help pull the local economy out of its current slump. Indeed, with gambling revenue on the increase, not only in America but across the world, it seems as though Penn National’s major new plans are coming to fruition just at the right time.