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MGM Resorts Receives Prince George County Casino Licence

MGM Resorts Receives Prince George County Casino License

MGM Resorts International has been granted the license to build a casino in Prince George’s County, Maryland. The project is expected to generate over $700 million in pre-tax gambling revenue in 2019.

MGM Resorts Receives Prince George County Casino License

MGM Resorts International has beat competition to win the casino license for Prince George County, Maryland.

The Maryland Video Lottery Facility voted 5-2 to grant the license to MGM and the $925 million casino project beat off competition from Greenwood Racing Inc. and Hollywood National. MGM are hoping to build one of the largest and most profitable casinos in the state which will result in 4,000 direct jobs and 7,500 indirect jobs.

MGM won the license for a number of reasons, but key is its location at National Harbor which is close to potential gamblers in D.C. and Virginia.
The facility is set to include 3,600 slot machines, 1540 table games, a 300 room hotel, a 1,200 seat theater, 35,000 square-feet of conference space and four restaurants.

Cummins Associates, a gaming consulting firm, has predicted that the resort will generate $575 million in net gaming revenue for the state when considering how much business it may steal from other Maryland casinos.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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