Penn National's bid for Fontainebleau could be official next week

10/6/2009 | Miami Herald (free registration), The

More than $2 billion has been poured into the now bankrupt Fontainebleau Vegas, and Penn National Gaming is reported to have offered a bid of less than $300 million for the unfinished casino hotel, now appraised at less than $400 million. Based in Wyomissing, Pa., Penn National owns 11 casinos, but the Fontainebleau would be its first property in Las Vegas.

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Miami Herald (free registration), The

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