SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 31, 2000
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PENN NATIONAL GAMING, INC.
(Exact Name of Registrant Specified in Charter)
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Pennsylvania 0-24206 23-2234473
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(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification No.)
Incorporation)
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825 Berkshire Boulevard
Wyomissing, PA 19610
(Address of Principal Executive Offices) (Zip Code)
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Registrant's telephone number, including area code: (610) 373-2400
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On July 31, 2000, Penn National Gaming, Inc. (the "Registrant") announced
that it has entered into a definitive agreement to acquire CRC Holdings, Inc.
("CRC") for $95.8 million and the assumption of approximately $32 million of net
indebtedness. Registrant also announced that it had entered into an agreement to
acquire for $32.5 million the approximately 41% of Louisiana Casino Cruises,
Inc. ("LCCI") not owned by CRC. LCCI owns and operates the Casino Rouge, a river
bout gaming facility at Baton Rouge, Louisiana. CRC also has a management
contract for Casino Rama, a gaming facility located approximately 80 miles north
of Toronto, Canada.
A copy of the press release issued by the Registrant on July 31, 2000
concerning the acquisition is filed herewith as Exhibit 99.1 and is incorporated
herein by reference.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PENN NATIONAL GAMING, INC.
(Registrant)
By /s/Robert S. Ippolito
Robert S. Ippolito
Chief Financial Officer
Dated: August 8, 2000
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EXHIBIT INDEX
Exhibit
Number Description
2.1 Agreement and Plan of Merger among CRC Holdings, Inc., Penn
National Gaming, Inc., Casino Holdings, Inc., Sherwood Weiser
and Donald E.Lefton, dated as of July 31, 2000.
2.2 Stock Purchase Agreement by and among Penn National Gaming,
Inc., Dan S. Meadows, Thomas L. Meehan and Jerry L. Bayles,
dated as of July 31, 2000.
99.1 Press Release -- Penn National Gaming to Acquire CRC Holdings
and Louisiana Casino Cruises for $160 million.
1
