[ Home ]

[ Slots News ]

Would-Be Racino Promotes Slot Referendum

One of the Maryland state race tracks that could benefit from slot machines being brought into The Old Line State is throwing a large sum of money behind the effort to make these devices legal. It was reported late last week that the parent company of the Pimlico Race Course and Laurel Park’s owner has officially approved the use of as much as two million dollars in promotions for the fruit machine referendum that is being put before Maryland voters in November.

MI Developments Inc. is the parent company of Magna Entertainment Corp., the company that owns both Pimlico and Laurel Park. MI authorized Magna to use up to two million of a one hundred million dollar loan it secured previously to “fund costs associated with the up-coming Maryland slots referendum.” MI has more than just a small interest in the passage of the slot game referendum, given that Laurel Park is one of five potential casino sites to house some of the new slot machines, should the bill be approved. It is not guaranteed the devices, but would be able to bid for them through a competitive auction process hosted by the state.

It seems that the majority of Marylanders are pro-slots, if recent poll results have been any indication of how citizens will vote in six weeks. The state’s existing gambling industry is not willing to take any chances, however, and is really taking an aggressive approach to their advertising efforts as the election draws closer. Only time will tell if all this investment is money well spent!

Back to September 2008 Archive.