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Penn National woos casino panel with promise of profit-sharing

Penn National Gaming says it will share hundreds of millions of dollars in profits with organizations in Prince George’s County if it is awarded the license to build a casino in that county.

Photo of Rosecroft Raceway

Exterior of Rosecroft Raceway, owned by Penn National Gaming.

Initial details of the proposal were released Monday morning in an emailed statement and include:

  • $100 million between years 2 and 10 for the build-out of new satellite sites for the Prince George’s County Hospital Center’s neighborhood health care system.
  • $219 million between years 2 and 15 for teachers in Prince George’s County, in the form of a defined contribution supplemental retirement plan.
  • A $200,000 in annual grants to organizations and non-profits in the County Council district where Rosecroft Raceway is located.

Penn National Gaming is one of three applicants seeking to build a new casino approved for Prince George’s County. MGM Resorts International and Greenwood Racing are also seeking the same license.

Penn National Gaming, based in Pennsylvania, currently operates the Hollywood Casino in Perryville and Rosecroft Raceway in Fort Washington.

Penn National Gaming officials were not immediately available for comment.

“We will be able to fund currently unfunded elements of the new hospital system, provide tools necessary for the county’s education system to attract and retain educators and to support the neighbors closest to us and most impacted by our proposed development.  This profit-sharing proposal will touch each and every resident in Prince George’s County,” Tim Wilmott, president and chief operating officer of Penn National Gaming, said in an emailed statement.

Full details of the plan are expected to be discussed during a meeting Monday afternoon with the state’s Location Selection Committee.