Penn National Gaming calls 8 7/8% notes due 2010

By Jennifer Chiou

New York, Feb. 14 - Penn National Gaming, Inc. announced the redemption of all $175 million of its 8 7/8% senior subordinated notes due March 15, 2010.

The company will redeem the notes at $1,044.38 per $1,000 principal amount plus accrued interest to March 15, the redemption date.

The Wyomissing, Pa., owner and operator of casino and horse racing facilities said it intends to fund the redemption with cash and borrowings under its revolving credit facility.

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