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Details in Maryland's gambling expansion proposal

Thursday - 10/25/2012, 8:13am  ET

By The Associated Press

ANNAPOLIS, Md. - PRINCE GEORGE'S CASINO

A casino could be built in Prince George's County with table games and 3,000 slot machines, if approved by voters statewide as well as voters in the county. The allowable area includes National Harbor and Rosecroft Raceway. Applicant proposals could include bids to keep up to 38 percent of the money generated by the casino. It could not open until 2016.

TABLE GAMES

Casinos would be allowed to have table games like blackjack. If approved by voters statewide, table games could be introduced early next year. Table game revenue would be taxed at 20 percent. If the ballot question passes statewide, but Prince George's voters reject it, table games would still be allowed in the state's casinos. However, legislative intent directs a state commission not to allow a casino in Prince George's, if the ballot question is supported statewide but not by voters in that county.

TAX RATES

The ballot question would change how much two casinos pay in taxes to varying degrees, if and when a Prince George's County casino is opened. Casinos currently pay 67 percent of the money generated in taxes.

Maryland Live! in Anne Arundel County would pay 8 percent less, cutting its rate to 59 percent. A planned casino in Baltimore would get a 7 percent tax cut for a 60 percent tax rate.

Regardless of whether a Prince George's casino opens, the casino in Worcester County would have a 57 percent rate starting in July 2013. A planned casino in Allegany County would get a 50 percent rate for 10 years and 57 percent after that.

Maryland Live! could seek an additional 2 percent tax reduction from a new commission, and the Baltimore casino could seek a 3 percent tax cut. Hollywood Casino in Perryville could seek a 5 percent reduction with the commission.

WHO OWNS THE SLOTS

Maryland Live! will get an additional 8 percent tax cut after they take control of slot machines ownership. The Baltimore casino and Hollywood Casino will get a 6 percent tax cut for owning the machines. Prince George's would get a 6 percent reduction as well, if a casino is approved there. The state will continue to own slot machines at the casinos in Allegany and Worchester counties. However they can later request to take control of the machines.

AROUND THE CLOCK

Casinos would be open 24 hours. Currently, they can be open 8 a.m. to 2 a.m. Sunday through Thursday and 8 a.m. to 4 am. Friday and Saturday.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)