Maryland Live! Casino To Expand With New $200 Million Hotel

Cordish Cos, the company that operates the Maryland Live Casino is proposing to break ground later this year for the construction of its new $200 million hotel. The 17-story hotel is expected to cover over 350,000 square feet and would become the tallest building in Anne Arundel County after its slated completion in 2017.

By adding a hotel to the casino located at Arundel Mills mall in Hanover, Maryland, the company hopes to improve Maryland Live’s attraction as an entertainment destination.

In a statement, Rob Norton, president of Cordish Global Gaming Group said,

We've been talking to our customers for quite a while about the amenities they would like to have, and a hotel is always at the top of the list. If they are locals, they are looking for the staycation; if they are driving from two hours away, they are looking for a place to stay for a night and have a couple of days of fun.

CBS Baltimore

The hotel will include 310 guest rooms, cafes and restaurants, a 1,500-seat event centre as well as a day spa. The parking space will also be expanded for the anticipated increase in traffic. Officials from the casino said that the new hotel is not likely to be in direct competition with existing hotels since it is aimed at catering to the casino’s customer base. One of the reasons for the expansion is that Maryland Live will face heightened competition with the opening of MGM Resorts International’s $1.3 billion National Harbor casino.

MGM’s casino is expected to open in the second half of 2016. Maryland Live receives more than 10 million visitors annually and has recorded revenue of around $650 million for the year ending in June 30. Norton said that although the new hotel facility will not open until after MGM launches its new casino, Maryland Live is well-prepared to handle the competition. Stating that competition was always good, Norton said that the casino was changing its marketing strategy which included opening new facilities like restaurants which will increase its appeal.

Karmel, an industry analyst and history professor at Harford Community College pointed out that MGM was clearly aiming to be a casino destination on the river Potomac rather than just targeting local customers. Karmel also stated that he does not expect current regional leader Maryland Live to give up its position easily. The casino was able to counter competition from the nearby Horseshoe Casino Baltimore when it opened in 2014. Instead of the predicted 20 percent drop in revenue, Maryland Live was able to retain its market share.

Adrian Sterne

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