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Penn National proposes $700M casino at Rosecroft

Penn National Gaming Inc. entered a bid Friday to build a $700 million casino at Rosecroft Raceway, setting up a battle with MGM Resorts International Inc., which hand-delivered its bid to state officials on Thursday.

Hollywood Casino Resort at Rosecroft Raceway

The proposed Hollywood Casino Resort at Rosecroft Raceway (Courtesy: Penn National Gaming Inc.)

Penn National, which played coy up until Friday’s 2 p.m. deadline, said in a statement that building a casino at Rosecroft in Fort Washington “represents the best way forward for Prince George’s County and the state of Maryland as it ensures the track’s long-term viability, provides further stability to the local horsemen and the state’s horseracing industry.”

MGM has leased 20-acres at the Peterson Cos.’ National Harbor development on the Potomac River, where the Las Vegas-based gambling company has said it would build an $800 million casino resort.

It was not immediately clear whether other bids were offered for the Prince George’s County’s casino license, created when Maryland voters approved a massive expansion of gambling last November.

Some bid details are expected to be released later this afternoon by the Maryland Lottery and Gaming Control Agency.