Money, Money, Money (Demo)

Maryland Live! slot revenue down, Penn National bidding on new casino in Prince George’s and so is MGM, Pay raises coming to some county employees, Cafritz gets preliminary approval from UMD; Wholefoods back on track

“While overall revenue at Maryland Live was up $1.95 million in April from March, revenue from slots fell about $6.45 million in April from the month before. By far the largest of Maryland’s casinos, Maryland Live operates 4,217 slot machines and 122 table games.  Table games at Maryland Live! Casino generated $8.4 million in revenue in their first month at the Anne Arundel County facility, on top of $38.2 million from its slot machines, the Maryland Lottery and Gaming Control Agency reported Monday,” Baltimore Sun.
How many ways do you think you can split the same pot?  I’m sure it will just get worse once MGM Grand opens at National Harbor.  And no matter how much Penn National bids for that coveted casino license, it’s as good as written in stone that MGM is going to open the next casino here, “MGM has made no secret of its plans for an $800 million luxury casino at National Harbor. While numerous county and state officials lined up behind that bid, Maryland-based gambling analyst James Karmel said the site selection is not a done deal. Table Games Casino
MGM Resorts formally announced that it’s on and poppin’ as it pertains to them bidding for the Prince George’s County casino license.  Washington Post posted, “Officials from MGM Resorts on Wednesday confirmed that the company will bid this week for a license to build and operate a new casino in Prince George’s County. MGM announced plans for a news conference on Thursday [May 9th], the day before bids are due to the state, at their proposed casino site at National Harbor, the 300-acre mini-city on the banks of the Potomac River.
‘The commission that reviews these applications has to measure each application by a number of objective criteria, most importantly potential revenue for the state and the casino,’ he said. ‘We’ve had problems in Maryland with applications not being well-capitalized.’  MGM had its own capital problems with CityCenter, a 76-acre complex in Las Vegas that was delayed in 2009 when a financial partner pulled $200 million in funding.  “Eventually it was built, but it was a long, tough road, ‘Karmel said. “Their balance sheets look a lot better now,'” from the Washington Examiner.
Looks like the plan for a Wholefoods in Riverdale is back on track after Cafritz development team, Calvert Tract LLC received the required right-of-way to construct a CSX crossing as required by one of the property’s conditions of rezoning.  The Riverdale Patch, ” In a letter sent to the planning board on Tuesday, UMD agreed to convey property to Calvert Tract LLC that would allow for a reconfigured CSX bridge, referred to as a J-crossing, subject to several conditions.
 The letter reads:
The University believes the Cafritz development will bring an economic benefit to the region and a much-needed amenity to the community. We are pleased to support this important project with an appropriately located right-of-way connection that respects the affected University property. With this letter, along with a letter dated March 30 from CSX, the developers are now compliant with the condition of rezoning associated with the bridge.  As shown in the attached plans, the J-crossing would flow out of a traffic circle on the planned extension of Van Buren Street, cross over the CSX tracks, turns south to run parallel to the railroad and finally connect to Lafayette Avenue at Rivertech Court, forming a “T” intersection.
It is this “T” intersection that is troubling to some Riverdale Park council members, including Alan Thompson (Ward 2). “The field of dreams is going to be altered by this. The northwest corner of the field of dreams belongs to the University of Maryland and it’s going to be impacted by [the intersection],” Thompson said, referring to a baseball field in town located on Lafayette Avenue.  An increase of traffic in the neighborhood nearest to the proposed intersection is also of concern.”
Money and Up ArrowFrom the Gazette, “Montgomery and Prince George’s County park and planning employees will get a 6 percent raise next fiscal year.  Montgomery’s general employee union — which also represents park and planning employees in both counties — reached an agreement with the Maryland-National Capital Park and Planning Commission for fiscal 2014, which begins July 1.  The commission is a bi-county agency of Montgomery and Prince George’s counties that provides a regional system of parks and land use planning.  Employees will get a 2.5 percent cost-of-living adjustment and those eligible will receive 3.5 percent step increases, said Gino Renne, president of United Food and Commercial Workers/Municipal and County Government Employees Organization Local 1994.
Union members are regaining confidence in their jobs through the raises now on the horizon, Renne said. “Not only have we gone through three years of economic despair, there was an awful lot of concern about their careers and job security,” he said. “But this contract, these new agreements, have instilled hope in our members that things are getting better, their jobs are a little bit more secure this year.”  Members still need to ratify the agreement for park and planning employees, Renne said.”

Related Posts

Leave a comment