Casino Developer Cordish Companies Rolls The Dice on Maryland with a $200 Million Expansion
A casino company gambles on a high-end luxury hotel as a way to continue to growth revenue.
Cordish Companies broke ground today on a new $200 million hotel expansion for its Maryland Live! casino property, with an eye on rolling out hotels under the 'Live!' brand nationally and internationally. The hotel will add 350,000 square feet of space to what is already Maryland's biggest gaming facility. Maryland Live! is one of the strongest performing casinos in the country, with 2016 revenue up 6%. The company's CEO David Cordish, sees continue growth even with pending competition from MGM (MGM) - Get Report which will open a new casino in Maryland within a few months. TheStreet's Rhonda Schaffler has details from Wall Street.
