Penn National wants to keep casino

JOLIET, Illinois -- As reported by the Chicago Herald News: "Penn National Gaming wants to keep the Empress Casino.

"The company that owns the Empress this week asked state regulators to lift a mandate to sell the casino by June 30, 2008.

"Wyomissing, Penn.-based Penn National again is making a case that the Illinois market is too volatile to make a sale as legislators make plans to expand gambling, ban smoking and enact other laws that can affect casino profits.

"Penn National acquired both the Empress and an Alton casino when it bought Argosy Gaming in 2005. T

"he acquisition gave Penn National, which already owned Hollywood Casino in Aurora, three Illinois casinos.

"But the Illinois Gaming Board wouldn't let the deal, which included casinos in other states, go through until Penn National signed off on an agreement to sell the Empress and Alton casino..."