FORT WASHINGTON, Md.--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
PARX CASINO HOTEL & SPA ANNOUNCES PROPOSAL SHOWCASE
On Wednesday, October 23, 2013, Parx Casino Hotel & Spa will showcase its proposal to bring a world-class entertainment destination to Prince George’s County, Fort Washington, Maryland during a public presentation and hearing before the Maryland Video Lottery Facility Location Commission at Friendly High School beginning at 3:30pm.
The Maryland Video Lottery Facility Location Commission has scheduled three separate public forums to review the proposals from each of the applicants in this competition. Last week, a drawing was conducted to determine the tour, presentation and public hearing schedule. Maryland Casino LLC, branded as Parx Casino, Hotel & Spa, a subsidiary of Greenwood Racing, Inc., will be the second applicant to participate in the public hearing process.
On Wednesday, October 23rd, the Commission will tour the Parx Casino Hotel & Spa proposed location in Fort Washington at the intersection of Indian Head Highway and Old Fort Road at 2:00 p.m. The casino operator will make its presentation to the Commission at 3:30 p.m. and a hearing where the public can comment will occur at 6:00 p.m. Both the presentation and the hearing will take place at Friendly High School. All of the companies vying for the license will be subject to the same process.
“We look forward to the opportunity to present our proposal, which we are certain offers the best opportunity for the State of Maryland and Prince George’s County, to the Commission as well as to the general public. We will work in partnership with the local community to provide the most revenue for the State of Maryland and bring economic development for the residents of Prince George’s County,” said Tony Ricci, CEO of Greenwood Racing, Inc. “Parx Casino, Hotel & Spa will be a community destination and a catalyst for economic development and tourism. The project will create more than 5,000 jobs and $1 billion of annual economic benefit to the state upon completion, while generating maximum benefits to the local constituency.”
In November 2012, a referendum was passed in Maryland to allow for a casino location in Prince George’s County, and authorized the Maryland Video Lottery Commission to solicit competitive bids for the license. As part of this bid process, Parx Casino Hotel & Spa submitted an application in May 2013 with a proposed license fee of $28.5 million, which is by far the highest of the three bids. The Parx proposal will generate the greatest revenue to the state because it features 4,750 slot machines and 170 table games. The world-class destination will include a 250 room hotel and will offer best-in-class branded restaurants, bars and lounges along with a multi-purpose theater, which will showcase exciting live entertainment.
About the Maryland Video Lottery Facility Location Commission
In November 2008, the Video Lottery Facility Location Commission was established by the Maryland General Assembly and charged with conducting a competitive bidding process to award up to six licenses to operate a video lottery facility in Maryland. The Commission has awarded licenses in five locations in the State of Maryland; four of those gaming facilities are in operation. The fifth facility, located in Baltimore City, is under construction and scheduled to open in 2014. The sixth facility, locating in Prince George’s County, is permitted to open in 2016.
About Greenwood Racing, Inc. and Parx Casino (R)
Parx Casino®, the largest and most impressive gaming complex in Pennsylvania, and Parx Racing®, a legendary thoroughbred racetrack, are owned and operated by Greenwood Racing, Inc. Conveniently located 20 minutes north of center city Philadelphia, I-95 exit 37 or PA Turnpike exit 351(westbound), exit 352 (eastbound) onto Street Road in Bensalem, Parx features 164,000 square feet of gaming; 3,350 slot machines; 120 table games; 61 poker tables; live racing & simulcast action; Parx Grill, an upscale signature restaurant; Foodies food court; Chickie’s & Pete’s crab house and sports bar; Earl of Sandwich®; SangKee Noodle Bar; 360 bar and live music venue; Jax sports bar; Finish Line bar and complimentary parking for over 5,000 cars. For more information on Parx visit www.parxcasino.com and www.parxracing.com.