ABS

Penn National Gaming: Deal or No Deal?

Private equity is in this for the long run- Penn is going full steam ahead on a number of deals- including purchases in AC- they are doing this with the knowledge and consent of Fortress and Centerbridge. If this was a buyout by a publicly traded company there would be a greater risk of this not happening because of the scrutiny from the shareholders- even though Fortress is publicly traded- it's a small part of Fortress. Everyone thought Harrahs wouldn't happen - there was doubt until the day before it closed.