Baltimore Slots on Track, Group Consultant Says
A self-imposed September deadline has come and gone, but a leader of a group seeking to put a slots casino in Baltimore says the effort remains on track.
In February, the Baltimore City Entertainment Group bid to 500 slot machines at a site just south of the stadium where the Ravens play NFL football. For weeks now, the group has pledged to revise its proposal to include 3,750 machines, which would make it the second-largest casino proposed in Maryland, behind one planned in Anne Arundel County.
The revised proposal requires the submission of an additional $19.5 million license fee to a state commission, which the group had said would be forwarded last month. It wasn't, prompting speculation that financing has been hard to come by.
Not so, Michael Cryor, a consultant and investor in the group, told us today.
"I'm confident that very shortly we'll be in a position to meet all expectations ... with respect to investors and all the agreements that are being finalized," Cryor said.
Cryor attributed the delay to finalizing "some of the land-related agreements" for the proposed casino site, which is on property owned by the City of Baltimore.
The Baltimore casino, if approved by the state commission, is angling to open early in 2011. The commission has awarded one license, for 800 machines, at Ocean Downs racetrack on the Eastern Shore. Track owners plan to open the slots parlor at that facility by Memorial Day 2010.
October 6, 2009; 2:47 PM ET
Categories: John Wagner , Slots
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