Penn National Gaming, Inc. just made the deadline for bids to the Maryland Video Lottery Facility Location Commission for the sole casino license to be awarded in Prince George’s County.
As expected, Penn submitted a proposal to transform its Rosecroft Raceway, acquired in early 2011, into a huge racino. The operator is proposing a $700 million casino resort at Rosecroft, the 1947-vintage racetrack 13 miles south of the nation’s capital on the Beltway in Fort Washington. It would carry Penn’s signature brand as the Hollywood Casino Resort at Rosecroft Raceway.
The proposal includes an integrated casino gaming and racing entertainment facility including slots, live table games, a poker room, a hotel with a pool and spa, a variety of food and beverage options, an entertainment and multi-purpose event center, a new grandstand facility, and structured and surface parking.
Penn predicts the new project would generate approximately 4,600 direct and indirect construction jobs, and 2,600 permanent direct and indirect jobs. Penn National intends to schedule and execute the development of Hollywood Casino Resort at Rosecroft Raceway to allow for the uninterrupted operations of the track and its year-round horse-racing meet.
The bid will set up a battle for the sole Prince George’s County license between Penn, MGM Resorts International and a surprise player who put in another last-minute bid, Pennsylvania’s Greenwood Racing, Inc.
Greenwood, owner of Pennsylvania’s most successful racino, Parx at Philadelphia Park, is proposing an $800 million Parx Casino Hotel & Spa on 22 acres in Fort Washington, with 4,750 slot machines and 170 table games. Greenwood formed the new subsidiary Maryland Casino LLC to put in its bid for the license the same day Penn submitted its application.
