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Penn National to buy Meadows

on May 15, 2014 10:30 AM

HOUSTON (AP) — An eastern Pennsylvania company that owns the real estate of Penn National Gaming Inc. is buying The Meadows Racetrack & Casino near Pittsburgh for $465 million.

Gaming and Leisure Properties of Wyomissing plans to keep The Meadows buildings and real estate, but will sell its gaming licenses and other assets to a company that will continue to operate the harness racing track and casino.

The Meadows, about 15 miles south of Pittsburgh, has been owned by Cannery Casino Resorts LLC, of Las Vegas, since 2006.

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