Could an MGM casino be headed to the National Harbor?
Quite possibly, if MGM International CEO James Murran gets his way.
Murran told Washington Business Journal that if Question 7 passes in November his company may bid to build a casino in the National Harbor, a location Murran describes as ideal because of its sweeping views and proximity to three major airports.
MGM did not bid on a Maryland casino in 2007, citing the state’s 67 percent tax rate on gambling revenue and required state ownership of video lottery terminals (VLTs), reports Washington Business Journal.
However, if Question 7 passes, casinos would be permitted to own their own VLTs and the tax rate on table gambling revenue would drop down to 25 percent.
Not everyone is so keen on seeing a new casino built in Maryland. In fact the battle over this ballot initiative has cost more than $40 million, according to the Washington Business Journal, from interests including Rosecroft Raceway and Penn National Gambling that don’t want to lose gambling revenue to Maryland.
Read the full Washington Business Journal Article Here.