The Ohio Casino Control Commission, which will oversee all Ohio casinos, is preparing a letter to Fortress Investment Group, the New York-based LLC that serves as Penn’s holding company. The letter repeats its demand that individual board members must participate in the license application process for casino operators.
“Already the delay of this filing and the delay of other filings have imperiled the scheduled opening of the casino facility in Toledo,” says a preliminary version of the letter. “Any further delay will only serve to further threaten this tenuous timeline.”
The commission’s executive director Matt Schuler said Fortress, as a whole entity, has submitted its required application as a holding company in addition to applications already submitted by Penn and its key personnel. But the Fortress board has so far refused to do the same for its 10 members on an individual basis.
“The commission has had a number of meetings where it has expressed its desire and set deadlines for filings to the legal representatives of Penn National and Fortress,” Schuler said . “They have indicated that members of the board of Fortress are holding back their applications to see if legislative changes in the definition of ‘holding company’ go through the [Ohio] General Assembly.”
In addition to the Toledo casino, Penn is also working toward an opening of its Hollywood Casino Columbus for late next year.