Rutter’s announced today that it has chosen Marquee by Penn, LLC, an
affiliate of Penn National Gaming, Inc. (PENN:Nasdaq) (“Penn National”),
as its Terminal Operator for Video Gaming Terminals (“VGTs”) in
Pennsylvania. Twenty Rutter’s establishments in the Commonwealth are
expected to initially qualify to host VGTs.
“Rutter’s is a proud, Pennsylvania-based company with a storied history
in the Commonwealth and a proven commitment to the communities in which
we serve,” said Scott Hartman, President & CEO of Rutter’s. “Penn
National shares these same attributes, and we look forward to partnering
with them to provide our customers the opportunity to enjoy playing VGTs
at a number of our locations throughout Pennsylvania.”
Under the gaming expansion law signed by Governor Wolf in 2017,
establishments that meet certain criteria are eligible to host up to
five VGTs inside their stores. VGTs are similar to slot machines, and
the law sets maximum bets at $5 with a maximum payout of $1,000.
Winnings will be paid out at redemption machines located on site. Any
person under the age of 21 is prohibited from participating in VGT
gaming, and the location of VGTs must be in an area segregated from
minors and under the observation of an employee.
Penn National has received its conditional license from the Pennsylvania
Gaming Control Board (“PGCB”) to act as a Terminal Operator and expects
to provide and service the VGTs at the Rutter’s locations, subject to
final regulatory approval by the PGCB. Rutter’s has filed its
application with the PGCB to host VGTs at its initial twenty stores.
“We look forward to working with Rutter’s to introduce VGT gaming in the
Commonwealth,” said John Finamore, Senior Vice President of Regional
Operations for Penn National Gaming. “Like Rutter’s, we started with a
single facility in central Pennsylvania. Today, we are the largest
regional gaming operator in the United States with a demonstrated track
record of providing quality entertainment and customer service. We are
excited to combine our expertise with Rutter’s established success in
the convenience store industry to offer VGT gaming at their qualified
Rutter’s is the oldest vertically integrated food company in the
country. Today, Rutter’s is recognized as an industry leader with the
latest advancements in technology, sustainability, consumer marketing,
and philanthropy. The Rutter family has a long, rich agricultural
heritage dating back more than 270 years. Rutter’s began as a dairy
business 98 years ago and opened its first convenience store in 1968.
Today, Rutter’s owns and operates over 70 convenience stores in
Pennsylvania,West Virginia, and Maryland.
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in gaming
and racing facilities and video gaming terminal operations with a focus
on slot machine entertainment. Reflecting the recent completion of the
Pinnacle Entertainment transaction the Company now operates 41
facilities in 18 jurisdictions. In total, Penn National facilities
feature over 50,200 gaming machines, 1,250 table games and approximately
9,400 hotel rooms. The Company also offers social online gaming through
its Penn Interactive Ventures division and has leading customer loyalty
programs with over five million active customers.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements can be identified by the use of forward looking terminology
such as “expects,” “believes,” “estimates,” “projects,” “intends,”
“plans,” “seeks,” “may,” “will,” “should” or “anticipates” or the
negative or other variations of these or similar words, or by
discussions of future events, strategies or risks and uncertainties.
Although the Company believes that its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business, there can be no assurance that actual results will not differ
materially from our expectations. Meaningful factors that could cause
actual results to differ from expectations include, but are not limited
to, risks related to the operation of VGTs in Pennsylvania, including
the receipt of all requisite approvals, construction or technological
delays, unexpected costs, market reception and other factors as
discussed in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2017, subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K, each as filed with the United States Securities and
Exchange Commission. The Company does not intend to update publicly any
forward-looking statements except as required by law. In light of these
risks, uncertainties and assumptions, the forward-looking events
discussed in this press release may not occur.
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