Mount Airy Casino Resort Moves One Step Closer to Table Games Licensure, Securing $35 Million in Financial Backing
MOUNT POCONO, Pa., March 24 /PRNewswire/ --The Pennsylvania Gaming Control Board approved a motion by Mount Airy Casino Resort to finance its expansion to table games with a $35 million loan from financial guarantor Louis A. DeNaples at a special meeting Tuesday, March 23, 2010. This is an important step in the re-creation of Mount Airy Casino Resort, a travel destination offering incomparable casino gaming, picturesque setting, ambiance, fine dining, luxury accommodations, outdoor activities and unrivalled amenities.
Pennsylvania state gaming regulators approved Mount Airy's petitions to use the loan to underwrite improvements to the casino's gaming floor to accommodate table games and to pay a portion of the $16.5 million table games state license fee. Further, the funds will also be used for capital improvement projects including golf course renovations, surface parking and a host of other capital investments. Mr. DeNaples' loan will go to the trusteeship headed by his daughter, Lisa DeNaples, D.M.D, the casino's chief operating officer. Mr. DeNaples is a guarantor of Mount Airy's loans.
According to George Toth, president and CEO of Mount Airy Casino Resort, "This is a key financial milestone in the introduction of table games at Mount Airy Casino Resort. As we continue to offer guests an experience that embodies incomparable casino gaming in a breath-taking setting, we look forward to ongoing collaboration with the Pennsylvania Gaming Control Board."
About Mount Airy Casino Resort
Located 75 minutes from New York City, yet set in the serenity and picturesque Pocono Mountains, Mount Airy Casino Resort offers guests the ultimate experience in casino gaming, golf, outdoor activities, entertainment, five restaurants, lavish guest rooms and deluxe suites. The property also boasts a state-of-the-art spa, salon and fitness center. For more information, visit www.mountairycasino.com.
Contact:
RUBENSTEIN PUBLIC RELATIONS
John McCook (212) 843-8365
Email: [email protected]
www.rubensteinpr.com
SOURCE Mount Airy Casino Resort
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