The final casino license in Maryland has been awarded. The Maryland Video Lottery Facility Location Commission announced earlier today that MGM Resorts International will receive the final license. As reported by the Washington Post, the commission voted 5 to 2 in favor of MGM International plan to build a $925 million complex in Prince George County at National Harbor.
The planned casino will rest on a 23-acre site that overlooks the Potomac River. The main feature of the resort will be a 300-suite, 18-story story hotel that will tower over the District skyline. The main casino will be complete with 140 table games and 3,600 slot and video poker machines.
In addition, the complex will feature a concert theater, luxury retail shopping, a reflecting pool, a spa, several restaurants featuring celebrity chefs and much more. Construction on the property is expected be completed by mid-2016.
The casino, known as MGM National Harbor, is looking to not only capitalize on the gamblers in Prince George County but also from gamblers across the Potomac River in Virginia. Virginia currently does not have a single casino in its borders and MGM National Harbor is expected to be a welcome addition for Virginia gamblers. In fact, approximately $350 million in revenue is expected from the Commonwealth in fiscal 2019.
MGM International has one hurdle remaining prior to the commencing of construction. The Prince George’s County planning board and County Council still have to approve the building plans for MGM National Harbor. This process could take a few months but once approved, construction can begin.
MGM International’s plan beat out proposals from Greenwood Racing and Penn National Gaming. Both of the competing proposals offered the state more in tax revenues but the commission determined that MGM International’s proposal was better suited to the state in all areas ranging from projected revenue to economic impact to the region.