Jul 9, 2008 11:07 am US/Eastern
Cecil Land Deal Could Lead To Slots Parlor
PERRYVILLE, Md. (AP) ―
A leading casino operator has agreed with one of Cecil County's largest landowners on a deal that could lead to a slots parlor near the I-95 tolls in Perryville if voters approve a gambling referendum in November.
Penn National Gaming Inc. also announced that it plans to campaign for passage of the November referendum.
The casino operator said it has secured an option to buy 36 acres for a slots venue at the site of a proposed 140-acre tourism complex. Stewart Associates is considering building a hotel, a visitor center, restaurants and shops on land just north of I-95, beyond the tollbooth across the highway from the Perryville outlets.
Penn National signed an exclusive 18-month option Monday to buy the 36 acres at I-95 and Route 222, which are owned by Principio Iron Co. L.P., an affiliate of Stewart Associates, The Cecil Whig reported Tuesday.
The casino operator would pay $125 million, the Whig reported.
John K. Burkley II, who is marketing the retail portion of the project for Stewart Associates, told The (Baltimore) Sun the complex would be "much more than the slots."
"The slots are going to bring the people there," Burkley said.
Perryville Mayor Jim L. Eberhardt said the complex would be an economic boost while having little impact on residents. River views and nearby waterside attractions would make it an ideal tourist destination, the mayor said.
"It's a fantastic view," Eberhardt said. "I think it could be very beneficial."
Meanwhile, Penn National's chief executive, Peter M. Carlino, said in a statement that the company will work for passage of the referendum.
"We intend to support Maryland's November slot machine referendum both financially and by educating voters on the potential economic benefits of new development in the state," Carlino said in a statement.
The operators of two other tracks in Maryland have not publicly pledged financial support for efforts to pass the referendum, and slots opponents said the development could be a boost for slots supporters.
"Penn National is a very large entity with the ability to spend a tremendous amount of money," said Aaron Meisner, chairman of Stop Slots Maryland. "There is no question they're going to have a very big impact."
Maryland voters will decide whether to authorize as many as 15,000 slot machines in the city of Baltimore and in Allegany, Anne Arundel, Cecil and Worcester counties. Anne Arundel and Worcester counties have tracks that would be eligible to bid for licenses, although the law does not require any of the slots venues be at tracks. A state commission would select the winning locations.
In Cecil County, bidding would be open to sites within two miles of Interstate 95 and 2,500 machines would be allowed at the location.
Penn National, based in Wyomissing, Pa., has operations in the United States and Canada, including Charles Town Races and Slots in West Virginia. The company backed out of a deal last year to buy Rosecroft Raceway in Prince George's County after the track was excluded from legislation designating slots locations in Maryland.
While Penn National would not be guaranteed a license if it purchased a property in Cecil County, company officials have said the company would be well positioned considering its history of operating casinos and tracks.
(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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