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Casino News:

  Penn National collects additional $4 million against MGM International in Maryland gambling movement

Penn National Gaming and MGM International are standing in opposition to each other in regard to prolonged gambling opinion poll of Maryland like two gamblers who are playing at a poker table by increasing their winnings again and again against each other constantly.  The present $3 million contributions of the MGM have been surpassed by a collection of $4million by Penn National Gaming so as to beat the delayed gambling bill. Now this addition of $4million to the previous collection of $5.4 million has made total collection of Penn National Gaming to around $10million. Now next movement of MGM is being anticipated.

Firm at getting the sixth casino license for itself for construction of a casino at Rosecroft Raceway in the district of Prince George, Penn National has been opposing the delayed gambling bill. While Rosecroft is being looked forward as a reasonable location for a new casino, Rushern L. Baker III, the executive of Prince George’s district and various other community leaders are in favor of casino construction in National Harbor.  This location is looked forward by MGM for construction of its casino. An amount of $400,000 has been promised in favor of extension campaign by the developer of National Harbor- Peterson Companies. This pronouncement can be accredited to the stated contract between Peterson and MGM, in case the tender goes in favor of MGM.

This extension is being favored by another company Caesars Entertainment as it will permit table games and an encouraging tax rate at its Baltimore casino. Apparently, one and all are in favor of extension. However, Penn National which opposes it has got another supporter in the Cordish Cos, the Maryland Lives’ operator. In its reply to the gossips of support by MGM, Cordish stated that the fundamental basis of any prospective modification in the gaming laws in Maryland particularly the adding up of a prospective new sixth grand casino should be justifiable with the already present casinos such as Cordish in Maryland. These existing license holders in the state have poured in huge amounts of money as per rules of the state to get the license granted, as per statement given by Joe Weinberg, the managing associate of Cordish Cos.

Subsequently, the fight between MGM and Penn National may conclude with the decision that will be taken in favor of the one who pours out more amount of money, keeping in view the mode chosen by them.


   2012-09-18






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