Prince George’s Casino Game (Demo)

Legislation to expand gambling into Prince George’s County by awarding a 6th gambling license has passed the Maryland Legislature and been signed by Governor O’Malley.  Now what? 
We wait until the November 6th election to vote on the matter.  A majority of Prince George’s County residents must vote in favor of the referendum provision to approve a 6th gambling license for Prince George’s County for this to happen.  All of Maryland could vote in favor of the table games provision and in favor of  Prince George’s County receiving the state’s 6th gambling license but if Prince George’s County doesn’t vote in majority for it, only the table games provision will pass. In the meantime, expect to see MGM and Penn National Gaming make various attempts to woo you to their side.
Enter the next mess:  If the legislation in its entirety passes by referendum, there will be bids taken for locations and companies who wish to build this casino.  Right now, it seems almost sure that the location will be near National Harbor.  What is not completely a done deal is which company will get the bid.  MGM Resorts and Penn National Gaming have each expressed interest in being the one to open a casino in Prince George’s County. MGM wants to open an $800 million, destination-style casino at National Harbor resort. Penn National, which owns Hollywood Casino Perryville, wants to open a casino at Rosecroft Raceway.  I’m guessing Rosecroft Raceway will not get this.
It costs tens of millions of dollars just to submit a bid.  The last time a license was up for grabs was in Anne Arundel County Both the Cordish Cos. and Maryland Jockey Club wanted it but David Cordish was the lucky recipient.   The Maryland Jockey Club’s bid was rejected by the state’s Video Lottery Location Commission because it failed to pay the $28.5 million fee required to pursue a license.  This is a very expensive venture and for it to succeed, someone must lose. 
So folks that’s it in a nutshell.  There are some great summations of the legislation online.  Leave me a comment and I’ll send you some links.

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