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Casino News:

  Expanded gambling may prove harmful

Just ahead of opening Maryland Live - the marvelous casino to come up next week in Anne Arundel County, its developers expressed that they would be losing about 40% of revenues, in case a new casino is permitted in Prince George’s county. They cautioned that they and their counterparts could even be compelled to leave the casino business due to excessive gambling activities. Managing Partner of Cordish Cos., who has been assigned the task of studying the effects of expanded gambling has expressed that gambling activity is not a Starbuck that could be enjoyed at each and every corner. The market could no2t prolong with such large number of slots, he said. However, those who favored for a casino at National Harbor in Prince George’s were optimistic about the casino expansion as they consider them to gain considerably.
Probable expansion of Maryland’s program in the context of voters’ authorization of five slots locations in 2008 is of great importance. Top representatives of the developers and gambling companies, with millions of dollars at stake, attended the Friday meeting of the work group. Chairman of Caesars Entertainment, Gary Loveman commented that they were satisfied with the new deal that unfortunately collapsed. He said that their company could improve considerably if low tax rate on slots and table games could be legalized. He added that they appreciated the new bargain. He said that they would favor with the alternative plan for table games at the current facilities.
The developer of National Harbor, Milton V. Peterson said that a rare number of tourists from Washington would visit Arundel Mills for gambling. The representatives from Penn National Gaming also considered a humble substitute plan for a casino at Rosercroft Raceway in Prince George’s County.


   2012-06-02






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