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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 12-20-2012, 11:50 AM
 
2,429 posts, read 3,567,162 times
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Quote:
Originally Posted by Barry Rock View Post
This is gambling we're talking about, a full blown casino, not a grocery store or gas station or Mon and Pop shop. Revenues are potentially massive compared that, you can't compare the average biz to major Casino. This market is one of the best in the Country.....lots of wealth here. Its not what I would call a good fit, I'd prefer more attention to Biotech, High tech, Medical, Cyber, defense, these are good business to create high paying jobs.
I hear what you are saying but regardless of the perception of the industry, it is still a business and I can't imagine any business investing that type of money in a license fee. The projected gross revenues for the PG site won't equal a billion dollars annually. Actually I believe that it is projected to be in the 650M range. That said, if you take out the current tax share, payroll, facility, and other overhead costs the profit margins, if any, would not be significant enough for any of those companies to set up shop in MD. This is not taking in account the fact that such a move would not only affect the PGC location but every casino/casino resort in the state. A move like that would effectively castrate the operability of the gaming program in MD. I agree that MD should continue with its efforts to expand its footprint in high technology but the state needs to also ensure that all industries within the state can remain profitable. Like what has been said before, jobs are jobs and we need to ensure that there are diverse enough to support workers of varying skill sets (be it hospitality or high tech).
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Old 12-21-2012, 10:19 AM
 
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PNG has officially announced that it will submit a bid for the PGC location. This in itself is not news but the article confirmed that they will release the RFP next month and expects to award a license by the end of next year. In reading this three questions came to mind..........will the current lawsuit hinder the execution of this time line?, What will happen to Rosecroft Raceways if it is not selected? and will there be any other players trying to pursue it last minute? Either way it sounds like the spring will be round two and we should have a clearer picture of what is being proposed at either site.

Penn National Gaming may bid on new casino in Prince George’s - The Washington Post
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Old 12-21-2012, 10:32 AM
 
Location: It's in the name!
7,083 posts, read 9,574,975 times
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Quote:
Originally Posted by UrbanScholar View Post
PNG has officially announced that it will submit a bid for the PGC location. This in itself is not news but the article confirmed that they will release the RFP next month and expects to award a license by the end of next year. In reading this three questions came to mind..........will the current lawsuit hinder the execution of this time line?, What will happen to Rosecroft Raceways if it is not selected? and will there be any other players trying to pursue it last minute? Either way it sounds like the spring will be round two and we should have a clearer picture of what is being proposed at either site.

Penn National Gaming may bid on new casino in Prince George’s - The Washington Post

Something tells me they shouldn't waste their efforts. lol They spent nearly $50 million dollars to block what they are now bidding for. Ain't gonna happen. Payback is a b****. I mean talk about burning bridges.
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Old 12-21-2012, 11:39 AM
 
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Quote:
Originally Posted by adelphi_sky View Post
Something tells me they shouldn't waste their efforts. lol They spent nearly $50 million dollars to block what they are now bidding for. Ain't gonna happen. Payback is a b****. I mean talk about burning bridges.
I agree with you on that and at first thought what is the point. However they could be doing it as a stall tatic to further delay the its opening through contesting the award etc. If they are doing it because they think they have a chance it would be a waste. I know that the application/license fee would be in the millions and from what I recall from the Bmore application process (at least part of if) is unrefundable.
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Old 12-21-2012, 12:13 PM
 
Location: It's in the name!
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Quote:
Originally Posted by UrbanScholar View Post
I agree with you on that and at first thought what is the point. However they could be doing it as a stall tatic to further delay the its opening through contesting the award etc. If they are doing it because they think they have a chance it would be a waste. I know that the application/license fee would be in the millions and from what I recall from the Bmore application process (at least part of if) is unrefundable.

They have too much dirty laundry. Everyone would know what they were up to if they try to contest the award. If I had skin in the game and I was CEO of Penn National, seriously, I would move on. They ONLY thing they would gain is an extra few months of profits while they muck up the system. IF and when MGM comes online, their profits will dwindle. I don't know what that strategy is. But I think it is unfair to the community. People talk about casinos not being good for the community, well, these kinds of business tactics aren't good either.
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Old 01-16-2013, 03:06 PM
 
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So their expecting to release the RFP for the PG casino on the 31st. It will be interesting to see if PNC makes the jump and bids. I assume that they have picked this date because they assume that the lawsuit (at least the first round) would be decided. Either way it will be interesting to see what concepts will be presented.

Bidding likely to open later this month on Pr. George’s casino - The Washington Post
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Old 01-24-2013, 07:46 AM
 
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No big surprise on this one but the presiding judge has dismissed the lawsuit questioning the validity of the Q7 referendum. The judge made an interesting comment when rendering his opinion.

Quote:
But Silkworth described that as “not just an absurdly high standard,” even more than required for amendments to the State Constitution.
IMO, that statement was on point. When I initially heard about the basis for their argument, I thought that a win could open up a can of worms for other measures that passed on similar language. Although this will not be the end of the battle at least it confirmed that the votes people casted(be it for or against) in November were not baseless.

Md. judge rejects lawsuit seeking to overturn gambling expansion - The Washington Post
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Old 01-24-2013, 07:55 AM
 
Location: It's in the name!
7,083 posts, read 9,574,975 times
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Quote:
Originally Posted by UrbanScholar View Post
No big surprise on this one but the presiding judge has dismissed the lawsuit questioning the validity of the Q7 referendum. The judge made an interesting comment when rendering his opinion.



IMO, that statement was on point. When I initially heard about the basis for their argument, I thought that a win could open up a can of worms for other measures that passed on similar language. Although this will not be the end of the battle at least it confirmed that the votes people casted(be it for or against) in November were not baseless.

Md. judge rejects lawsuit seeking to overturn gambling expansion - The Washington Post

With the amount of money the state and county hope to revceive from this venture, the war won't last long. I'm sure the politicians will grease the rails.
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Old 01-24-2013, 08:06 AM
 
2,429 posts, read 3,567,162 times
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Quote:
Originally Posted by adelphi_sky View Post
With the amount of money the state and county hope to revceive from this venture, the war won't last long. I'm sure the politicians will grease the rails.
Yeah I expected as much previously but this confirmed it. To be honest I thought that this lawsuit would take months if not years to put to bed considering how other lawsuits have delayed projects for years......this one literally started and finished in a matter of weeks.
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Old 01-24-2013, 08:10 AM
 
Location: It's in the name!
7,083 posts, read 9,574,975 times
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Quote:
Originally Posted by UrbanScholar View Post
Yeah I expected as much previously but this confirmed it. To be honest I thought that this lawsuit would take months if not years to put to bed considering how other lawsuits have delayed projects for years......this one literally started and finished in a matter of weeks.
Well, it was kinda silly to begin with. Like you mentioned, it would put into question every other referendum with that language.
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