Maryland Live! Announces $200M Hotel PlanMove Comes As Opening Of MGM National Harbor Nears |
|
As MGM Resorts works toward opening a $1.3 billion casino near the nation’s capital, Maryland Live!, which is currently the state’s largest casino in terms of gaming win, has announced plans for $200 million worth of new investment.
The casino said that the money will be spent on a 17-story hotel tower called Live! Hotel, which will be equipped with amenities for guests and located directly adjacent to the casino.
Groundbreaking on the hotel tower is scheduled for this fall and the project is expected to be completed in late 2017. MGM National Harbor is slated to open later this year.
According to a report from The Washington Post, a study found that Maryland Live! is expected to lose 16 percent of its profits in 2019 thanks to the competition.
Out of all the state’s casinos, Maryland Live! will be the closest to the new MGM property.
Even before MGM National Harbor opens its doors, the state’s casino gambling market is already at record levels. In May, the state’s five casinos won $104.4 million from gamblers, a new record for a single month for the casinos. Slots accounted for nearly $67 million, while table game win was $37.4 million.
“Maryland Live! Casino is the premier gaming, entertainment and retail destination serving the heart of the Baltimore/Washington population,” Robert Norton, President of Cordish Global Gaming Group, said in a statement. “The addition of our flagship Live! Hotel is just the latest investment we are making to ensure Maryland Live! continues to be the preferred choice for visitors seeking a world-class gaming and entertainment experience.”
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
