Penn Gaming

JAMUL CASINO ANNOUNCES NAME CHANGE AND SHIFT IN MANAGEMENT

 

Penn Gaming parts ways with tribe; SEC filing cites concerns over unpaid loans

By Miriam Raftery

March 1, 2018 (Jamul) – In a press release issued tonight, the Jamul Indian Village Development Corporation, a wholly owned entity of Jamul Indian Village, announced termination of Penn Gaming and a transition to a new management team at the Hollywood Casino Jamul-San Diego, which will be rebranded as Jamul Casino.

The JIVDC press release describes the transition as a “natural next step toward economic self-sufficiency for JIV.”  Penn Gaming’s filing with the Securities and Exchange Commission on February 27, 018 does affirm that the decision for Penn’s local entity, San Diego Gaming  Ventures LLC, to cease management of the casino effective May 28, 2018 is a “mutually agreed” upon decision. 

But the filing also indicates serious financial difficulties, including outstanding loans that Penn suggests it may be unable to collect.  The filing states:


Error message

Local news in the public interest is more important now than ever, during the COVID-19 crisis. Our reporters, as essential workers, are dedicated to keeping you informed, even though we’ve had to cancel fundraising events. Please give the gift of community journalism by donating at https://www.eastcountymedia.org/donate.