Peter Carlino, the CEO of Penn National Gaming, said the company is still looking for a Las Vegas casino to acquire. Penn recently paid $230.5 million for about $860 million of debt held by M Resort, but the Marnell family will continue to operate the resort. "M does not meet our strategic objectives in Las Vegas," said Carlino. "It's a one-off purchase and an opportunity that we believe in in the long term."

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