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Casino News:

  A glance at Cordishs gambling record as it comes up with a new casino

While Cordish Cos is set to come up with the Maryland Live Casino at Arundel Mills mall, an assessment about its past gambling records is being made. It was eleven years ago when it started its first ever project with the Seminole tribe of Florida. After that, the company got involved in other four properties throughout the country. In fact, doubts are being raised about its credentials in terms of gaming activities in the past. It is doubtful whether it would survive for long if it is unable to stop the large gambling facility in Prince George’s county. When Cordish was awarded the right for Maryland Casino, it did not think of any competition against another casino at a distance of just one-hour’s journey that could give it a tough fight in terms of number of gamblers and earnings.
A decision would be taken next month by the Maryland General Assembly for grant of a license for the 4,750-slot facility at National Harbor.
Maryland Live would facilitate jobs for 1,500 persons and Cordish has invested $500 million for the project. The Managing Partner and President of gaming for Cordish, Joe Weinberg asserted that the company has taken the project on long-hold basis. The Managing Director for casino gaming and equity research of Janney Capital Markets, Brian T. McGill said that Arundel Mills casino must develop considerably in view of the surrounding affluent areas. 


   2012-06-05






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