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US-MGM outlines plans to tempt Maryland

By - 19 June 2012

MGM Resorts wants to get in on the Maryland casino action with plans to build a 4,000 VLT venue in National Harbor, close to Washington, in conjunction with Peterson Companies.

The plans are dependent on Maryland passing legislation permitting a sixth casino license at National Harbor, a competitive tax rate that would allow for a world-class destination resort and approval of a state-wide referendum by Maryland voters.

Developed by Peterson Companies, the resort casino would be located on 350 acres  on the Beltway Parcel at National Harbor, the Washington, DC metro area’s premier waterfront resort destination, and would house 250 table games along with the VLTs.

The area already boasts fine restaurants, distinctive retail, office and residences, and a number of world-class hotels including the Gaylord National Resort and Convention Center.

James Murren, Chairman and Chief Executive Officer, MGM Resorts International, said: “The opportunity to build a destination casino resort in the National Harbor complex was extremely compelling. We believe this ideal location will not only attract residents from Virginia and DC, but will also serve as a new amenity for the more than 40m domestic and international visitors who travel to the Nation’s Capital each year.”

Milt Peterson, Founder and Chairman of Peterson Companies added: “We share MGM’s vision for creating world-class facilities and their track record of success makes them an ideal partner.The power of the brands in the MGM Resorts portfolio and their loyal customer base of 60m will attract customers from all around the globe.”

“This is an exciting opportunity for the residents of Prince George’s County and Maryland,” said Prince George’s County Executive Rushern L. Baker, III. “We remain hopeful that the people will have a chance to vote on bringing a high-quality resort casino that will create thousands of construction and full-time jobs and generate millions in additional revenue for Prince George’s County and the state. Peterson Companies and MGM Resorts are to be commended for their willingness to invest in our vision of having the very best destination resort in the region right here in Prince George’s County.”

Maryland’s gaming legislation currently permits five VLT locations. Three casinos have opened, including those in Perryville, Berlin and Hanover. Two others, one in Baltimore and one in Rocky Gap Lodge and Golf Resort, have yet to be developed.

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