After years of delays and litigation, Caesars Entertainment was awarded Baltimore’s license to construct and operate a casino on Russell St. in South Baltimore this afternoon. The $310 million casino is eyeing a 2014 debut and will include 3,750 slot machines and potentially table games depending on the results of a special session of the Maryland General Assembly.
The hope is that this new casino will rejuvenate the area south of M&T Bank Stadium in between the neighborhoods of South Baltimore, Pigtown and the Camden Carroll Industrial area. We’ve already seen Hammerjacks show interest in building a new venue near the casino and we can now expect news on many other adjacent properties and warehouses eyed for redevelopment.
Baltimore City’s proceeds from the casino will be used to help reduce property taxes and portions of the revenue from all five Maryland casinos will benefit Pimlico Race Track and the surrounding area.
Here is the official statement from Mayor Rawlings-Blake referencing the importance of table games:
| FOR IMMEDIATE RELEASE | ||
| Tuesday, July 31, 2012 | ||
| Statement from Mayor Rawlings-Blake on the State Awarding a Casino License to Caesars Entertainment Corp. | ||
| BALTIMORE, MD. (July 31, 2012) – Today, Mayor Stephanie Rawlings-Blake issued the following statement regarding the state Video Lottery Facility Location Commission’s decision to grant Caesars Entertainment Corporation a license to operate a facility in Baltimore:“The commission’s decision today to award a license to Caesars Entertainment is an important and positive step forward for Baltimore. Legislation under consideration for the special session will help make Baltimore’s facility even more competitive, add hundreds of additional job opportunities, increase education funding, and help reduce property taxes. Maryland’s legislators should support this important economic development effort in Baltimore by allowing the people of Maryland to vote on the issue this November.” |
