According to a March 1 filing with the U.S. "The Jamul Tribe is currently in default on its loan obligations," the firm stated on February 8.Ī few weeks later, Penn National was spilling further ink on the arrangement. While Penn National recently boasted of record fourth quarter revenue, it also disclosed that it took an "impairment charge of $48.5 million" on a loan issued to the tribe. The firm, under a federally-approved management contract, received 30 percent of the net revenue and a licensing fee of 2 percent from the facility.īut the relationship doesn't appear to working out on a financial level. The tribe opened the Hollywood Casino Jamul, the closest to downtown San Diego, in October 2016 with backing from Penn National Gaming. ![]() Village will be rebranding its casino in southern California after parting ways with the developer of the $460 million facility.
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