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Old 09-25-2012, 09:43 PM
 
2,429 posts, read 3,566,069 times
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Now this is an interesting turn of events

Penn National angling to buy share in Maryland Live Casino for Cordish - baltimoresun.com

It would be interesting to see who would buy Perryville if this is successful.


Thoughts?
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Old 09-26-2012, 06:54 AM
 
Location: It's in the name!
7,083 posts, read 9,571,027 times
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Quote:
Originally Posted by UrbanScholar View Post
Now this is an interesting turn of events

Penn National angling to buy share in Maryland Live Casino for Cordish - baltimoresun.com

It would be interesting to see who would buy Perryville if this is successful.


Thoughts?
If MGM does in fact build a wold class casino resort at National Harbor, the Perryville Casino will continue to wither. Maryland Live would still be close enough to the DC market to get some profits from that market. I see this as Penn National using the profits it receives from Maryland Live to sure up Perryville. Penn and Cordish see a shark in the waters and they feel that it is better to join forces than the fight the shark alone.
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Old 09-26-2012, 09:29 AM
 
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Originally Posted by adelphi_sky View Post
If MGM does in fact build a wold class casino resort at National Harbor, the Perryville Casino will continue to wither. Maryland Live would still be close enough to the DC market to get some profits from that market. I see this as Penn National using the profits it receives from Maryland Live to sure up Perryville. Penn and Cordish see a shark in the waters and they feel that it is better to join forces than the fight the shark alone.
Well according to MD Law if Penn does acquire a majority minority share in MD Live they will have to sell their interest in Perryville or reduce ownership to below 5%. I agree that Perryville will deminish over time due to their proximity to MD Live and Harrah's Bmore (2014). They will be more of a direct/immediate affect than the National Harbor project due to location and its delayed opening (2016/2017). That doesn't include the competion it faces from other states. That said it would be interesting to see what company would buy Perryville given the level of confirmed and potential competition that is on the horizon..
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Old 09-26-2012, 09:45 AM
 
Location: It's in the name!
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Originally Posted by UrbanScholar View Post
Well according to MD Law if Penn does acquire a majority minority share in MD Live they will have to sell their interest in Perryville or reduce ownership to below 5%. I agree that Perryville will deminish over time due to their proximity to MD Live and Harrah's Bmore (2014). They will be more of a direct/immediate affect than the National Harbor project due to location and its delayed opening (2016/2017). That doesn't include the competion it faces from other states. That said it would be interesting to see what company would buy Perryville given the level of confirmed and potential competition that is on the horizon..
I didn't know that. So, they are giving up on Perryville?
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Old 09-26-2012, 10:07 AM
 
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Quote:
Originally Posted by adelphi_sky View Post
I didn't know that. So, they are giving up on Perryville?
They would have to if they want to partner in MD Live. Buying into a more profitable property makes sense from a business perspective. It does make me wonder how Perryville feels and what improvements this partnership will make with the operations of MD Live (which most patrons don't care for).
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Old 09-26-2012, 10:14 AM
 
Location: It's in the name!
7,083 posts, read 9,571,027 times
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Quote:
Originally Posted by UrbanScholar View Post
They would have to if they want to partner in MD Live. Buying into a more profitable property makes sense from a business perspective. It does make me wonder how Perryville feels and what improvements this partnership will make with the operations of MD Live (which most patrons don't care for).
The timing of it all would be interesting. I would imagine most of the employees at Perryville would be able to transition in the Baltimore facility when it is complete if Penn National decides to wind it down. If they leave it to the wolves, the Baltimore facility may be fully staffed before the employees in Perryville are let go which would leave them out in the cold. Hopefully there will be a suitable buyer before things get too bad for Perryville.
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Old 11-17-2012, 02:43 AM
 
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It is good i MGM wing they will build a world class casino resort at National Harbor, the Perryville Casino will continue to wither. It will be nice if happen .
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Old 11-17-2012, 09:15 AM
 
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Originally Posted by andre1978 View Post
It is good i MGM wing they will build a world class casino resort at National Harbor, the Perryville Casino will continue to wither. It will be nice if happen .
I think the National Harbor Casino is inevitable of the two primary possible locations it is the best by far and would require the least amount of improvements to the infrastructure. I read in an article that there may be others bidding on the license but I don't know of any space that is large, convenient, or appealing enough to be a viable option. After Penn National's stunt during the election, I am sure that they have lost some friends in Annapolis. Besides that, whatever they propose would probably include a Hollywood Casino which, architecturally, it unappealing to me.
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