AUGUSTA (AP) – By a 5-0 vote Thursday, Maine’s Gambling Control Board granted Penn National Gaming Inc. a conditional license to operate slot machines at Bangor’s harness racing track.

The Pennsylvania-based company must still get a full license before it can operate a racino at the Bangor track, but a senior vice president for the company, Steven Snyder, called Thursday’s action “a great next step for the project.”

Snyder said the company hopes to break ground for the racino at Bangor Historic Track next spring and open it by mid-2006.

Before it grants a full license, the gambling board wants the Legislature to pass a law allowing it to keep Penn National financial and personnel information it must review confidential. Penn National also wants such a law passed.

Gov. John Baldacci, saying he was “very pleased” about the gambling board’s action, added that he will support the legislation sought by the board and Penn National. He said the project represents jobs and an economic boost to the Bangor area.

Thursday’s action came almost a year to the day after Maine voters authorized racinos, and a day after Penn National acquired Argosy Gaming Co. of Alton, Ill., for $1.4 billion cash.

If approved by regulators and Argosy stockholders, the deal could give Penn National more than $2 billion in annual revenues, more than 20,000 slot machines and about 700,000 square feet of casino space at 13 properties.

The Wyomissing, Pa.-based company would become the nation’s third-largest operator of gambling properties.

Maine gambling board members, acknowledging that Penn National will also assume $805 million of Argosy’s long-term debt, asked whether the deal will have an impact on the Bangor racino plan.

Snyder told the board that Penn National has a track record for aggressive growth and using its cash flow to manage its debts. He said the Argosy transaction “in no way whatsoever” affects the Bangor racino plan, which he said “was and is programmed in” to the company’s plans.

He said the Bangor racino could create 300 to 500 jobs.

Some board members said they had no interest in micromanaging Penn National’s finances and that its debts had no place in the discussion.

“I think we’re making too much of this debt load,” said board member Michael Peters. “I think the discussion about debt should end.”

Penn National already has a Maine harness-racing license, but the gambling license is critical to the company’s further plans. The newly elected Legislature will be sworn in Dec. 1, but it is not expected to take up most matters until after it returns in January.

Penn National has said it won’t begin construction of a gaming facility in Bangor until it gets its license. Depending on board action, as many as 1,500 slots could be installed in the new facility.