MGM Resorts International Edges PNG in Maryland Casino License Race
MGM Resorts International was awarded a casino license for Prince George’s County, Md. on Thursday, edging out Penn National Gaming. PNG had purchased Rosecroft Raceway with the expectation of hosting a casino on the site.
MGM Resorts’ proposal projected the greatest benefit to the area in terms of revenue and jobs created. Although PNG pledged to donate all casino profits to the establishment of a network of healthcare offices and a supplemental retirement plan for area teachers, its projected value was significantly lower than MGM Resorts’ planned facility–$460.5 million as compared to $575 million in gaming revenue for the state. Greenwood Racing had also been in the mix for the license.
The proposed facility will have 3,600 slot machines, 140 table games, a 1,200-seat theater, and four restaurants.
Elsewhere, the Maryland Horse Breeders Association gathered to detail slots’ impact on the state’s economy. Officials reported in a press conference that they have seen a 13 percent increase in Maryland-bred mares, and a 23 percent increase in new stallions for the 2014 breeding season.
Read more at Washington Business Journal