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Stock impact report

Virginia Beach developer Bruce Smith makes pitch for Petersburg casino [Yahoo! Finance]

PENN Entertainment, Inc. (PENN) 
Last penn entertainment, inc. earnings: 2/6 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Smith became passionate about the opportunity, he said, after he and several other Hall of Famers visited schools in Petersburg last fall and met at-risk children. “I got a chance to see firsthand the needs,” said Smith, 60, by phone Tuesday. “We all know that Petersburg has extremely high unemployment, a high level of poverty and there's a food desert. We want to tackle all of those issues.” Five companies are vying to develop a casino in Petersburg: The Cordish Companies (of which Smith would be a partner), Bally's Corp., Penn Entertainment, Rush Street Gaming (which operates the Rivers Casino Portsmouth) and Warrenton. The Cordish Companies completed a redevelopment of Norfolk's Waterside District in 2017 but was more recently entangled in a legal battle with the city over the company's desire to build a casino there. The Baltimore-based company operates four casinos in Maryland and Pennsylvania, and proposed a $1.4 billion mixed-use development with a casino at the Petersbu Show less Read more
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