Slots proposals include 6,550 machines, unpaid bid fees - Baltimore Business Journal:

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A proposal to build 750 machines at Rockyt GapState Park, and another from for a parlotr at Laurel Park, came in without any cash to back them up. The disappointingt bids potentially set back a slots plan expected togeneratew $660 million annually for stats coffers once all the parlors are up and running. They come at a time when tighf credit markets have stymiedd construction projects across thecountry -- particularlyh gambling facilities. And critics have long said the hefty fees requireds by the state would bluntg interest in the Maryland law requiresa $3 millionn licensing fee and $25 milliohn in construction costs for every 500 machines, to be paid up fronft at the time of bid.
“I think it’s fair to say the economyu certainly has had some impact on the saidDonald C. Fry, chairman of the panepl charged with reviewing theslots Fry’s group — called the Marylandx VLT Facility Location Commission — said The number changed nearlyg 40 percent a day later after the groulp had a chance to sift through the documentws and take a closer look at the Fry said. Along with the machines slated for the two parlors for whicb no financing has been the total number of machines proposedxis 10,300. The discrepancy in the totalp number of machines came largely from the proposalo for a Baltimore City Fry said.
Upon first glance, the commission saw plans for 3,750o machines. But they laterd realized that was an eventual but there were only plans to buile 500 machinesat first. The Laurel Racing Association and MarylandxJockey Club, a subsidiary of Magna. That group plane for 3,000 machines in its parlorr at Laurel Park racetrack but did not include a plan to coveerthe $168 million in fees that are require d for that many machines. The principalws are Frank Stronach, Anthony R. Campbell, Jerry D. Ron Charles, Jennifer Jackson, William J. Menear, Frank Blake Tohana, Frank DeMarco Jr. and William G. Ford. PPE Casino Resorts Maryland LLC, a subsidiary of Baltimore developedr theCordish Co.
That group submitted the necessaruy feesfor 4,750 planned machines at Arundel Mills Mall. The principals are Joseph S. Jonathan A. Cordish, Charles F. Jacobs and Dennid C. Gomes. • Baltimore City Entertainment Group LP. The group has plan s for 3,750 machines in southwest Baltimore but submittex money and official plans for just 500 The principals are CEOMichael Moldenhauer, Kevihn Johnson, LaRian Finney and Paul Shelton. The operatotr is Gaming EntertainmentManagement Corp., with CEO Paul Micuccoi and Chairman Alex Lawryk. • Ocean Enterprises LLC, whoses principal is Ocean Downs racetrack ownerWilliam M. Rickman Jr.
Rickman submittec plans and money for 800 machines at the with plans for an additional 700machinezs eventually. • Penn Cecil Marylan d Inc., a venture of Penn National Gamin andDelvest Corp. The bid includex plans for 500 machines at firstf with an optionfor 1,000 more at Interstatr 95 and Maryland Route 222 in Perryville. The group expressef some concern about the type of machineas that wouldbe allowed. The principalse are Peter M. Timothy J. Wilmott, William J. Clifford, Robert Ippolito, Jordan B. Thomas Auriemma, John Finamore, Harole Cramer, Wesley R. Erdens, David A. Handler, John M. Robert P. Levy and Barbara Z. Shattuck. • Empirde Rocky Gap LLC.
The group plans for an initiap750 machines, and eventually 1,500, but did not submity any financing up front. Its bid also was contingent on a changwe in the state law outlining how the slots revenue is divided. The plans also connect the slotsw parlor to the existing RockyGap resort, but state law requirees it be free-standing and The group’s principals are David P. Michael Leahy, Vincent Tagliabuccj and Ivan Lanier. The slotes commission will meet nexton Feb. 12, when it will hear more detailz on the bids and conside r howto proceed.