This news is so hot off the wires Howard Stutz has only had time to tweet it but Prince George’s County has chosen MGM Resorts International for its new casino license. Pleas by Greenwood Racing for an extension had been brushed off. If the $952 million MGM property is half as impressive in the flesh as it is in renderings, it should be something. Prince George’s County allied itself with the cream of the industry in its choice. Penn National Gaming, meanwhile, has to figure out what it’s going to do with Rosecroft Raceway, an infelicitous acquisition.
Meanwhile, in Massachusetts, MGM is inching toward a finding of suitability, the first big step toward licensure. Difficulty in obtaining surrounding-community agreements may require binding arbitration and push the final selection back into March.
As someone who grew up in the area and still has family & friends there, I can tell you that the National Harbor casino should be very lucrative for MGM since its location is within 30 minutes driving distance of some of the wealthiest zipcodes in the country with very little major competition. Surprised that other Vegas major casino companies like Wynn, Sands, etc didn’t even try to get it.
MGM will be a big winner in PG Country unless they really mess it up. The loser, obviously, is the huge, profitable but really boring casino at Arundel Mills — they don’t even have a hotel and it’s just a well located grind joint.