• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

MGM Wins Big in Two US States

Newsdesk by Newsdesk
Thu 2 Jan 2014 at 15:51
1
SHARES
18
VIEWS
Print Friendly, PDF & Email

MGM Resorts International has dramatically improved its prospects in the United States, winning key approvals in Maryland and Massachusetts for more than $1.7 billion in new resort gaming development.

A state commission in Maryland has awarded the Las Vegas-based casino giant the state’s sixth and final license for a $935 million, 300-room resort at National Harbor overlooking the Potomac River within 10 miles of Washington, D.C.

Slated to open in 2016 with 3,600 slot machines, 140 table games, a theater, gourmet restaurants, a spa and high-end retail, MGM National Harbor, as it’s called, “has the potential to change not only the region’s skyline, but also the calculus for where tourists stay, where business groups hold conventions and where Washington lobbyists entertain,” said The Washington Post.

The resort is expected to employ about 4,000 people and generate upwards of $700 million in gambling revenues by its third year.

“This is a big deal for the entire region,” said Prince George’s County Executive Rushem L. Baker.

Margins could be impacted by the state’s high tax on slot win of 67%, offset somewhat by a friendlier 20% on table revenue, but MGM Chairman and CEO James Murren is duly optimistic. “I believe that this will be the most successful commercial [gambling] resort in the United States … outside of Las Vegas,” he told the Post, adding that the company will break ground as soon as it receives clearance from County Council and the Planning Board, a process that could take several more months.

MGM bested two competing bidders for the license: Greenwood Racing, which operates the Parx casino just north of Philadelphia, and Penn National Gaming, a major operator in the US regional sector.

Maryland currently is home to four casinos with a fifth, a Horseshoe-branded resort in Baltimore under development by Caesars Entertainment and scheduled to open next year.

In Massachusetts, MGM came out on top of a torturous investigative process to win a ruling of suitability that brings the company a crucial step closer to developing the only casino designated for the western part of the state.

Plans call for an $800 million resort in the city of Springfield featuring a 250-room hotel, an 89,000-square-foot casino and 70,000 square feet of retail shopping, restaurants and other non-gaming attractions.

The state’s enabling legislation, passed in 2011, provides for three licenses: in western Massachusetts, Greater Boston and in the southeast. Suffolk Downs racetrack in partnership with Mohegan Sun are competing with Wynn Resorts for the Boston-area license. Caesars Entertainment, the track’s original partner, was rejected by the Massachusetts Gaming Commission late last year as unsuitable for licensing.

In the west proposals by Mohegan Sun and Hard Rock International were rejected by voters in November, leaving MGM as the sole suitable licensee in that part of the state. The company still needs approval from the Gaming Commission before it can be awarded the license. MGM said in a statement that it expects to make its case before the commission at a public hearing at some point later this month or in February and have the license in hand by the spring.

Gambling revenue will be taxed at 25%. MGM also will pay the city of Springfield more than $25 million a year if the casino is built.

RelatedPosts

MGM Resorts names talent agent Ryan Abboushi as President of Entertainment

MGM Resorts names talent agent Ryan Abboushi as President of Entertainment

Tue 13 May 2025 at 05:18
The show must go on

Fitch: Not implausible to see US operators forced to sell Macau casino interests should US-China relations deteriorate further

Fri 25 Apr 2025 at 06:26
The Japan IR Industry: A Golden Opportunity Squandered

MGM-Orix consortium breaks ground on Osaka IR project

Fri 25 Apr 2025 at 05:50

MGM Resorts to pay US$8.5 million to settle NGCB complaint over actions of illegal bookmakers at Vegas resorts

Sun 20 Apr 2025 at 07:59
Load More
Tags: MarylandMassachusettsMGM Resorts International
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English