Posted on 06/13/2012 8:13:17 PM PDT by Tolerance Sucks Rocks
ANNAPOLIS — Maryland can support a sixth casino and adding table games would more than make up for the revenue that competing casino operators could lose, representatives from a consulting firm told state lawmakers Tuesday.
Representatives from PricewaterhouseCoopers and the state’s Department of Legislative Services presented a report Tuesday to the state’s Work Group to Consider Gaming Expansion - a panel of legislators and executive-branch officials charged with deciding whether the General Assembly should hold a special session next month to consider a bill legalizing table games and adding a casino In Prince George’s County.
Opponents have argued that adding to the state’s five licensed casino sites would oversaturate the market and cut into operators’ profit margins, but analysts found that operators stand to make more money with the addition of table games, and per-capita gambling revenues in the state would still be well below those in many other markets.
“The amount of gambling that we would expect to occur here is well within the threshold that has been met or exceeded in other metropolitan areas throughout the country,” said Warren Descheneaux, director of the DLS Office of Policy Analysis.
The report detailed that legalizing table games and adding a casino at National Harbor In Prince George’s County would generate as much as $538 million in new revenues for the state and casino operators.
According to the report, Maryland’s two largest previously licensed casinos - a planned Baltimore site and Maryland Live, which opened last week in Anne Arundel County - would lose as much as $190 million in total annual slots revenue if a competing Prince George’s casino opens.
(Excerpt) Read more at washingtontimes.com ...
Maryland “Freak State” PING!
This was all a bad idea when Ehrlich was governor, so surely it must be now.
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Yes?
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Oh that’s right gambling isn’t evil as long as a Democrat says it isn’t. </Speaker Bush>
Living in or visiting to Maryland is a gamble in itself.
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