Casino Buyout Is Extended

Penn National Gaming has extended the deadline for the completion of its USD 6.1 billion sale to Fortress Investment Group and Centerbridge Partners to Oct. 13.

The leveraged buyout, announced a year ago, has been delayed because it will not receive necessary approvals from some regulators by the original June 15 deadline, the casino company, based in Wyomissing, Pa., said Friday in a statement.

On Thursday, Penn National said it or the buyers had the option of extending the deadline to Oct. 30. The company owns 19 casinos and racetracks.