Penn National secures Ohio location

LAS VEGAS, Nevada -- The courts may still weigh in, but Penn National Gaming is moving forward on one of two planned casino projects in Ohio.

The Wyomissing, Pa.-based regional casino operator purchased a 44-acre site in East Toledo, Ohio for a planned $250 million casino. The site cost $2.5 million.

Penn National plans to open the Hollywood Casino Toledo in the second half of 2012.

Ohio voters in November approved a constitutional ballot initiative that allows casino gaming in the state, but a legal challenge has being contemplated.

"Closing on the property moves us a major step closer to making Hollywood Casino Toledo a reality," said Eric Schippers, senior vice president of Penn National.

Penn National also plans to put a casino in Columbus, Ohio.