![]() The Wyomissing-based operator stated that its decision to sever ties with the tribe will moreover result in it recording additional losses of around $29.4 million along with ‘unexpected costs related to the termination and transition of its management contract’. The Hollywood Casino Jamul San Diego opened on tribal land about 20 miles east of downtown San Diego in October of 2016 but Penn National Gaming Incorporated explained via a February 8 press release that it had chalked up a fourth-quarter impairment charge of $48.5 million on its outstanding financial commitments with the Jamul Indian Village of California. Latest Casino and Gambling News, Tribal Gaming, Casino News, California, Mergers, Acquisitions & PartnershipsĪmerican casino operator Penn National Gaming Incorporated has announced that it will no longer be managing the Hollywood Casino Jamul San Diego or supplying the southern California tribal casino with ‘branding and development services’ after May 28.Īccording to a Tuesday filing ( pdf) with the United States Securities and Exchange Commission, Penn National Gaming Incorporated revealed that its San Diego Gaming Ventures subsidiary had advanced a $98 million loan to the Jamul Indian Village of California for the purposes of building, equipping and operating the San Diego County casino before subsequently providing the federally-recognized tribe with ‘delayed draw term loans and a limited completion guarantee’ worth approximately $29 million. ![]() Betting on sports futures, props and lay bets. ![]()
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