Penn National Gaming extends tender offer deadline

WYOMISSING, Pa. — Casino operator Penn National Gaming Inc. on Thursday extended a deadline and waived certain conditions for its previously announced tender offer of 6 percent senior subordinated notes due 2011.

The expiration of the $200 million tender offer is still Sept. 3. The new consent payment deadline is 5 p.m. EDT on Sept. 3.

The consent deadline had been set to expire this past Wednesday. As of 5:00 p.m. on that day, Penn Gaming said that about $93.3 million aggregate principal amount of the notes, representing 46.64 percent of the outstanding notes, had been validly tendered and not withdrawn.

Penn Gaming shares rose 65 cents to $30.88 in afternoon trading.