Penn National Submits Bid for Casino

Penn National Gaming has submitted a bid to finance and construct a casino in the Chicago area. Penn National was one of seven companies interested in buying the bankrupt Emerald Casino and one of three companies that expressed interest in building a casino in Rosemont, Ill. Financial details of the bid were not disclosed.

The Illinois Gaming Board is expected to select three final bidders on Feb. 23 and announce a winning final bidder on March 15.

"The proposal submitted by Penn National is highly competitive and reflects out expertise as a multi-jurisdictional operator and our proven property development skills," Peter Carlino, chairman and chief executive officer of Penn National Gaming said in a released statement.

The Rosemont site is in close proximity to Chicago's O'Hare International Airport and adjacent to the Rosemont Convention Center.