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Penn National may change Maine plans

BANGOR, Maine – As reported by the Bangor Daily News: "A legislative push to increase the state's share of revenues from Hollywood Slots at Bangor could scuttle the company's $131 million project in the city.

"Representatives of Penn National Gaming Inc., the Bangor facility's parent company, confirmed Monday that the possibility of losing 10 percent of current revenues could force the company to delay, scale back, or scrap altogether plans to build a gaming and hotel complex across Main Street from Bass Park.

"'Penn National is not going to assign the [construction contract for the permanent complex] to Cianbro until this is resolved,' Hollywood Slots General Manager Jon Johnson said Monday in a telephone interview from Penn National's corporate headquarters in Wyomissing, Pa.

"…As it stands, the company pays the state a 1 percent tax on its gross slot machine income, or 'coin in,' as well as a 39 percent state tax on its net income and a 3 percent tax to the city.

"Penn National spokesman Eric Schippers said Monday that the combination of taxes amounts to 51 cents out of every dollar of Penn's net revenue…"

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