Maryland’s re-branded Live! Casino & Hotel unveils hotel plans
After celebrating its fifth birthday yesterday, the Maryland Live! Casino in Anne Arundel County near Baltimore has reportedly announced that it has re-branded itself as the Live! Casino & Hotel and will be adding a 310-room hotel by the end of 2018.
According to a report from The Baltimore Sun newspaper, the Maryland facility owned by local firm The Cordish Companies expects to open its new 17-story hotel sometime next year with most of the rooms reserved for regular casino patrons.
The newspaper reported that the new $200 million hotel is set to have glass as its dominant construction material while there is to be a giant red sign near the top displaying the “Live!” branding. The coming venue is to moreover feature a presidential suite with floor-to-ceiling windows offering bird’s-eye views of the immediate area and will join a nearby hotel The Cordish Companies purchased last year and has since re-branded as Live! Lofts.
“On the top couple of floors you’ll find suites that are as large as many houses that will have all kinds of amenities including movie rooms and spa suites,” Robert Norton, President for Cordish Global Gaming Group, told The Baltimore Sun.
The newspaper explained that the coming hotel scheme is all part of a plan to help the re-branded Live! Casino & Hotel contend with the $1.4 billion MGM National Harbor, which was opened by MGM Resorts International in early-December about 35 miles away in Prince George’s County. It reported that the ability to stay overnight could additionally help The Cordish Companies prosper in the face of ever-increasing local competition from the Horseshoe Casino Baltimore, which premiered about twelve miles distant in 2014 and is run by a consortium that includes Jack Entertainment and Caesars Entertainment Corporation.
“The other thing that it does is they are getting you on the property and keeping you on the property,” Stephen McDaniel, an associate professor for the University Of Maryland’s Department Of Kinesiology, told The Baltimore Sun. “You’ve got hotel revenues, you’ve got food and beverage revenues. There’s a spa and there’s a 1,500-seat concert or events center.”
The newspaper detailed that the opening of the MGM National Harbor was the main factor behind Live! Casino & Hotel reporting a 22.3% decline year-on-year in gross gaming revenues for May, which followed a 21.6% decrease in April while March’s figure was down by 14.6%. The nearby Horseshoe Casino Baltimore was also hurt as its takings last month declined by 18.1% to $23.5 million while MGM National Harbor brought in revenues of $50.5 million.
“I think both MGM [National Harbor] and Live! [Casino & Hotel] can both settle in with their own niche customer,” Alan Woinski, President for casino industry news service provider Gaming USA Corporation, told The Baltimore Sun. “MGM [National Harbor] is the more high-end, tourist and table game player while Live! [Casino & Hotel] has the location and enough traffic near [it] to remain strong. That being said, there is still enough business to go around between these three properties. If you took a poll at [MGM] National Harbor and Live! [Casino And Hotel], my guess would be many regular customers frequent both locations.”