Executives at the Pennsylvania-based gaming company are counting on voters in the county to defeat the Cordish Cos.' plans to build a casino at Arundel Mills in next month's referendum, as well as for the state to reopen the bidding process for the slots license there. The referendum asks voters whether a zoning bill passed by the County Council to allow the mall project should stand.
"The governor has made very clear that he believes that slots belong at Laurel, so that we are pretty confident that following a defeat of the effort to put the slots where they don't belong, that [the] state will move very swiftly to start a new process," Penn National Chairman and Chief Executive Peter Carlino said during a conference call with analysts for the company's third-quarter earnings.
But the chairman of the location commission that awards slots licenses said Thursday that the Cordish Cos.' license would remain intact if the zoning is rejected at referendum. Donald Fry said the issue would revert back to the county. The developer would have to go back to the County Council and seek new zoning permission, either for Arundel Mills or another site.
David S. Cordish, president of the Cordish Cos., has said he prefers putting a casino at Arundel Mills and is dedicated to that venue, but he would consider other options if the referendum fails.
Penn National, which co-owns Laurel Park racetrack with the Maryland Jockey Club, has been supporting a campaign against Cordish's plans for a $1 billion casino and entertainment complex.
State law doesn't allow a company to hold more than one slots license. Besides divesting the Perryville casino, another option is to restructure the facility's ownership or management, said Eric Schippers, Penn National's senior vice president for public affairs. Any transfer of Perryville's license requires state approval.
If the license bidding process is re-opened, the Jockey Club would be ready to file an application immediately, while Penn National would address the license ownership issue, Schippers said.
"Both could move on swift parallel tracks," Schippers said.
Schippers said it would be "highly unlikely" for the County Council to approve another zoning measure for slots at Arundel Mills if voters defeat the referendum.
Laurel Park would also need zoning approval for a casino. Penn National executives said they are prepared to move immediately on its plans once it gets permission.
"We would indeed be in the position to deliver on the jobs and revenue faster than Cordish,"
Schippers said. "Traffic studies have been done at Laurel, there is already an existing grandstand to use to temporarily house the slot machines while we build out the permanent facility, given we have a proven track record at Perryville. At record time, we developed the casino."
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