Penn National Gaming is one of the leaders in the regional casino and casino resort industry in the United States. They operate casino ad racetracks all over the company. They have been stating for quite some time that they are wishing to break into the LAs Vegas market at either the Strip of the locals arena. They made a significant step this summer when they were able to acquire a Nevada state gaming license. When the license was acquired Penn National Gaming came right out and said it was to help ease their way into Las Vegas when the right project came along.

Many have speculated that the right project was going to be one of the many Station Casinos properties that are going up for auction in the coming months. Station Casinos has been going through bankruptcy and an auction of several of their casinos and casino resorts is going to help them pay down much of their debt. However, Penn National Gaming has clearly stated that they are not interested in the Station Casinos properties. “I think we can say we’re definitely not interested,” stated Penn National Gaming Chief Financial Officer, Bill Clifford, in a conference call. Mr. Clifford was quick to point out that Penn National Gaming could still be interested in other Station Casinos holdings. Speaking of the upcoming auction, Mr. Clifford continued, “At this point I think we’re pretty realistic that the valuations that people are expecting are probably not going to fit within our criteria.”

For the time being, Penn National Gaming is still actively seeking the right project to break into the Las Vegas casino scene. However, they don’t want to just have a Las Vegas casino just to have one. They are willing to wait for the right time and place to come along. While it may be easy to snatch up one of the auctioned properties, they feel it may not be the perfect introduction to Las Vegas.

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