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Posts Tagged ‘Cordish’

Cordish Cos. Fights for Maryland Casino

Friday, April 9th, 2010

Cordish Cos is a casino development company that has been around for a while now and has gained respect in the world of gaming as a leader. Now the company is planning on building a slot machine parlor in Anne Arundel County of Maryland. The group sees the move as a lucrative one that will help the state to recover from the former recession.

Like with most other decisions on gambling though, there is another side. Cordish Cos has a strong opponent trying to block its move to build the casino. Earlier last month opponents began gathering signatures to take the slots issue up to a November vote later this year. They want the people to be able to make the decision on gambling and they want the adequate time inform the public of what the new pending casino development will mean to the neighboring communities. Since that time, 19,000 signatures have already been gathered to give support to the opposition. If the votes are approved then they are enough to bring the issue to referendum. However, Cordish Cos is not taking it lying down.

The company is now fighting back against the signatures and filing a lawsuit to make the names invalid due to the method of collections used to get them. Cordish Cos issued a statement citing the names as questionable because anyone could have made the names up. They don’t come along with any type of verification or proof. The lawsuit is heading to the Maryland courthouse and Cordish Cos is hoping its position will negate the signatures, thus eliminating the issue off of the 2010 November ballot. They don’t want the opposition to have time to advertise and petition for the blocking of their plans. Recent polls however are showing that Cordish Cos may not have much to worry about. Residents in the Anne Arundel area are showing a growing excitement over the casino facility coming to their area. There is a lot of support for the construction and most likely even if a vote is taken on the 2010 ballot, it will ultimately approve the creation of the casino for the area.

MD Gets Approval for Slots, but May Face Other Delays

Tuesday, December 8th, 2009

The Maryland state commission approved the installation of slot machines. The state’s largest slots parlor now has approval from the commission, but due to a zoning problem, may need to postpone the change. Recently the state slots commission voted 5-2 to award the licence to Cordish Co. The plan is to install up to 4,750 slot machines near the Anne Arundel County mall.  It would be the first slots parlor of its kind to go into the state and to be build for the purpose of using the revenues to fund state projects.

Industry insiders are projecting that the facility would bring in as much as $500 million in one year once the machines are up and running. The state is already budgeting $243 million to go directly to its coffers and $25 million going to the county. If approved by local officials, the location could be open and fully operational by December of 2011.  The facility is said to be spread over a 215,000 square-foot facility that has a 125,000 square-foot gaming floor.

Though legislators were all but ready to get started on the project, members of the Anne Arundel County Council decided that the vote needed to be delayed for further investigation. County residents were vocal in their opinions too. For a long time now residents have been waiting with baited breath over the decision. They want to know whether or not the huge slots parlor will be brought to their neighborhood and what changes that means for them. County residents waited on the decision, only to be put off again by the council. There was an audible groan throughout the masses when the decision for a delay was announced.

David Cordish told reporters he was on his way to Annapolis to “put their issues to bed.” He also stated, “Everywhere we’ve had a casino, property values have risen. Security was increased for the neighborhood, but they’ll have to see it to believe it, I guess, and we’ll prove it to them.” He was also hoping for a swift decision to the issue that has dragged on for months now.

Some critics are still hoping that the slots parlor is not built. They are pining for Laurel Park, a horse racing track, to use slot machines and leave it at that. They are also citing the added traffic as an issue that the state is not investigating. Only time will tell what the state will do, but the issue needs to be settled as soon as possible for residents and project owners.

Arundel Mills Continues Its Renovation- Part 2

Monday, November 23rd, 2009

Part of the argument is that things may get confusing for visitors and residents when looking for ways to maneuver around the city. Both Goodman and Condon are assuring people that patrons will have to go through separate areas to reach the slots venues than they would to reach the stores and other businesses. Goodman added, “We did not want the slots parlor to define the mall.”  Much of the argument they believe can be quelled with a good blueprint plan for building. The slots parlor will be added, but in an unobtrusive way. Goodman added, “It will be an extension, but not interfere with other businesses…we have made it separate from the main business quarters.”

Although many people assumed Laurel Park would end up getting slots, the referendum vote in 2008 made about a 50-square mile swath of land eligible for the machines. Rumors popped up occasionally in that year that Arundel Mills would come forward with a proposal, but there was no public acknowledgement of a pending slots bid until they were all made public in February. Laurel’s bid was rejected by the state because the company did not pay a required license fee.

Goodman said negotiations with Cordish took place over the course of 2008 and “became more serious as the year went on.” He is arguing the idea that companies should have announced their plans prior to the referendum stating that from a business standpoint that would not have been a good move. “It wasn’t finalized until it was announced,” Goodman said. “We never announce anything until it is fully executed.”

As the debate rages, many analysts are targeting other locations for slots parlors. People are seeing how heated the debate over slot machines and gambling are and want to capitalize on it. Governments are quick to hone in on the potential tax revenue dollars available if slots and gambling are accepted into their economy. It’s no doubt that slot machines are lucrative and if governments are hurting financially, and most are, then they are looking to expand their money-generating potential with slots machines. The recession was hard on all communities and gambling seems to be the quick answer for their money woes.

Arundel Mills Continues Its Renovation- Part 1

Monday, November 23rd, 2009

The owner of Arundel Mills is publicly promoting a plan for using slot machines at the Hannover shopping mall. Although the company was formerly silent on the decision, the company, Cordish Co. announced its proposal for 4,750 slots to be installed at the mall in the beginning of 2010.  Representatives are now changing their silent attitudes and promoting the slots initiative heavily.  Gregg Goodman, the President of Mills division of Simon Property Group, said, “A gaming complex is especially accretive to retail sales. For us, it is basically another anchor.”

Goodman and Gene Condon, the VP and General Manager for Arundel Mills respectively, are also hoping that upscale hotel rooms and future opportunities are a huge reason to support the slot parlor project and encourage it to be built soon.  Condon added, “We have delivered what we said we would deliver. We want to have the slots facility for a long period of time.” The future for Arundel Mills includes revamping existing facilities and bringing in a higher level of “luxury and decadence” to the “look” being projected to the customer. The facility now wants to reach the higher-end shoppers and gamers who visit and give them something to enjoy.

The company’s promotion of a slots parlor is just now becoming apparent. It is a critical time for them to voice their support because a state commission responsible for choosing slots locations appears ready to approve the Arundel Mills plan, and next month the council is set to vote on a controversial zoning change to allow the development. The zoning decision – mandated in the state constitution – has deadlocked the council for months as members worry whether Arundel Mills is an appropriate place and how to properly protect residents nearby.

Goodman and Condon expressed frustration with what they consider to be a routine development situation. Residents around the mall fear the slots facility will burden existing communities and cause crime to increase. They also fear that added traffic will congest the city area. Though there have been some opponents, mall officials said the appropriate time to deal with those problems is in the development, and not zoning, process. “The attitude that has been conveyed to us is just confusing,” Goodman said. “The arguments against the slots parlor are being used as an excuse to not get to the point where they are addressed.”

Part two coming next.