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Showing posts with label Perryville. Show all posts
Showing posts with label Perryville. Show all posts

Monday, September 30, 2013

Md. Casinos Impose Fines for Underage Gambling

Md. Casinos Impose Fines for Underage Gambling


HANOVER, Md. — More than two dozen instances of underage gambling at Maryland casinos will cost casino operators tens of thousands of dollars in fines.

A consent agreement signed last week by gambling regulators and earlier by Maryland Live casino marks the state’s first penalty for underage violations. Under the agreement, Maryland Live agreed to pay $20,000 for four incidents of underage gambling. Soon Hollywood Casino in Perryville will pay $10,000 for two similar incidents.

There have been 30 known violations of underage gambling this year. The state can impose a maximum fine of $5,000 per incident.

Joe Weinberg, managing partner for Maryland Live casino, says casino operators will work toward zero tolerance at the 21-and-older establishment.

There is no state penalty for the young people who violate the policy.

http://washington.cbslocal.com/2013/09/29/md-casinos-impose-fines-for-underage-gambling/



Friday, August 23, 2013

Penn National spinoff could allow for P.G. casino license without selling Perryville



When millions of dollars on lobbying still isn't enough to buy the privilege to change the law, then just go break the law.

m.bizjournals.com/baltimore/news/2013/05/16/penn-national-spinoff-could-allow-for.html?page=all&r=full
 

Penn National spinoff could allow for P.G. casino license without selling Perryville

Gary Haber
Baltimore Business Journal
 
A move by Penn National Gaming could enable the company to win a license for a casino in Prince George’s County without having to sell its Hollywood Perryville casino.

The Wyomissing, Pa., casino and horse track owner filed plans Thursday with the Securities and Exchange Commission for an initial public offering, creating a separate, independent company that would own the Cecil County casino and 18 other Penn National gaming facilities in 13 states.

The proposed spinoff, to be called Gaming and Leisure Properties Inc., would be structured as a real estate investment trust. It would be the first gaming-focused REIT in the U.S., Gaming and Leisure Properties said in the filing. GLPI incorporated in Pennsylvania on Feb. 13.

Maryland law prohibits casino operators from holding two casino licenses. That restriction posed only a theoretical problem for Penn National until May 10 when it submitted a bid with Maryland’s Video Lottery Facility Location Commission for a casino license in Prince George’s County. Penn National wants to build a $700 million casino and hotel in Fort Washington at Rosecroft Raceway, which it owns. It is competing against MGM Resorts International (NYSE: MGM), which wants to build an $800 million casino at National Harbor; and Greenwood Gaming, which has proposed a $700 million casino and hotel in Fort Washington on 22 acres at Indian Head Highway and Old Fort Road. MGM’s plans for a National Harbor casino has the backing of PG County Executive Rushern L. Baker III.

One reason for Penn National’s proposed spinoff is to allow the company to bid for multiple casino licenses in Maryland and other states that restrict a company to a single license, Karen Bailey, a Penn National spokeswoman, said in an email Thursday. However, the primary reason for seeking to create the REIT is to “generate additional value for our shareholders,” Bailey said in the email.

John Kempf, an analyst at RBC Capital Markets, wrote in an April 19 research note that “the recently announced asset separation into a REIT and operating company will unlock value of the company.” Penn National shareholders would get one share of GLPI for each Penn National share they own.

Under the spinoff, first announced in November, GLPI would own the casinos, while Penn National would operate them.

Bank of America Merrill Lynch and Wells Fargo & Co. are advising Penn National on the proposed spinoff. Gaming and Leisure Properties Inc. intends to trade on NASDAQ under the ticker symbol “GLPI”.

GLPI’s filing said it plans to issue 99.8 million shares. The filing did not specify much it plans to offer the shares for.

The spinoff will also result in management changes atop Penn National. Peter M. Carlino, Penn National’s CEO and chairman, will serve as GLPI’s CEO and chairman. After GLPI is spun off from Penn National, Carlino will remain Penn National’s chairman. Timothy J. Wilmott, Penn National’s president, will be elevated to Penn National’s CEO.

Donald C. Fry, chairman of the Video Lottery Facility Location Commission, could not be reached for comment.

http://m.bizjournals.com/baltimore/news/2013/05/16/penn-national-spinoff-could-allow-for.html?page=all&r=full

 

Sunday, October 21, 2012

State gambling ballot question not a good bet



Thursday, October 18, 2012
Joe Volz: State gambling ballot question not a good bet


Walter Mills, the conservative Frederick barber, and I rarely agree on any political issue but in this election we both argue that Question 7, which allows voters to add yet another casino to the state, is a bad bet.

The fancy casino would be built at National Harbor in Prince George’s County.

Walter loves gambling more than most, but I don’t care one way or the other. I have rarely been to a casino, and I can’t think of the last time I bought a scratch lottery ticket at a gas station.
I am not morally opposed. I just think it is a good way to lose money. I would rather lose it watching a good movie.

If others want to gamble, though, I have no objection. Let’s just make sure we tax them. Maybe we should have a commuter tax, in which some of the money goes to Maryland, even though the casino, such as Charles Town, is in West Virginia.

Walter and I come at Question 7 from different perspectives.

Walter figures Prince George’s County is the worst place for us Fredericktonians to go to bet. For one thing, it is farther than the one-stop gambling spot at Charles Town.

The pro-National Harbor crowd argues that the revenue has been promised for schools. Well, maybe, but there is nothing in writing in the referendum that says that.

In the past, we have seen a lot of money supposedly raised for specific needy causes end up in the state’s general fund to be used for anything.

And Walter points out that the state is nearly saturated with gambling venues now. There don’t seem to be enough gamblers to go around.

Perryville has had to give back some of its machines because they were not getting enough play. Arundel Mills has been doing fine — so far — but it is a new attraction and may wither in time, just as a lot of those fancy casinos in Atlantic City did.

Before you know it, those promised 12,000 jobs for National Harbor gambling might evaporate, and we will be left with big mausoleums to our lust for gambling. Look how much trouble our race track industry is in right now.
ROFLMAO, Uproarious laughter


Someone has surely paid their 'experts' gobs of $$$ to arrive at such outrageous  projections.

These outright lies by Gambling Industry have remained unchecked and you will discover a category on the right of this blog or click below.

If any state had the sense to include within the legislation mandates on both hiring and revenue, you'd suddenly see reality injected!

Check these:
Gambling Revenue Promises Rarely Met
Overstated Projections
OVERSTATED PROJECTIONS



What should have happened was to establish casino gambling at the Maryland tracks so players could do it all at one location. But politics got in the way of that happening.

Walter has this to say about National Harbor: “They could pay my way down, give me free food and a free room, and I still wouldn’t go.”

Some days I long for the good old days when Pappy Poole ran his (legal) off-track gambling parlor and restaurant down at the Cracked Claw in Urbana. But Pappy was getting up there in years, and the state was cutting down on his take. So he shut the place down.

Too bad.

It wasn’t pretentious. The food was nothing to rival Volt’s, but it was a home-style Frederick County place. Not a fancy, expensive high-roller operation — as the one proposed for Prince George’s.

Yes, I actually did go to Pappy’s a few times (only for the atmosphere) and once won a couple of bucks, although I made the mistake of leaving the ticket on my table, and the waitresses swept it up with the plastic plates.

Joe Volz, a former Pulitzer Prize finalist, has written for newspapers in New York and Washington.

You can reach him at volzjoe2003@yahoo.com.

http://www.gazette.net/article/20121018/OPINION/710189857/1014/joe-volz-state-gambling-ballot-question-not-a-good-bet&template=gazette