BANGOR, Maine (AP) – Penn National Gaming Inc. has completed the final land purchase necessary to build a permanent slot machine center near the Bangor Raceway.

Penn National on Thursday closed on the purchase of the Holiday Inn, one of two hotels that will be razed to make room for the racetrack casino, or racino, slated to open in 2008.

Construction is expected to begin in April following the demolition of the 121-room hotel and adjacent buildings, Hollywood Slots spokeswoman Amy Kenney said. Another hotel, the former Main Street Inn, was razed in June.

“This has been a very long process,” said Drew Anderson, the Portland attorney who represents the owners of the Holiday Inn. “We’re happy the deal has gone through as everyone had anticipated.”

The sites were key to the project because there were few commercially zoned properties that met a requirement of the state law that the facility be built within a 2,000-foot radius Bangor Raceway at Bass Park.

Once completed, the $90 million complex will replace the temporary Hollywood Slots housed in the former Miller’s Restaurant.

The 116,000-square-foot casino will open with 1,000 slot machines and will have the capacity for up to 1,500. It will also have a hotel, three restaurants, an entertainment lounge, a gift shop and a parking garage for 1,500 vehicles.

Hollywood Slots already has proven to be a success with an average of about 2,400 people coming through the doors each day.

More than $520 million in wagers have been placed, although most of it is “churned” money that is bet over and over again. For the first 12 months of the year, gamblers lost $35.2 million in wagers, officials said.

Gambling opponents are still working to put Hollywood Slots out of business. The No Slots for ME! group is collecting signatures to force a vote next November asking Mainers if they want to ban all slot machines in Maine.

—

Information from: Bangor Daily News, http://www.bangornews.com

AP-ES-12-29-06 1334EST

Copy the Story Link