Fox Gaming Team Serves as Maryland Regulatory Counsel for Loan to MGM National Harbor ProjectMarch 16, 2016 – Press Releases
Nicholas Casiello Jr., chair of the Gaming Practice Group, and Patrick Madamba, Jr., counsel, at Fox Rothschild LLP, served as Maryland regulatory counsel for the financing of MGM Resorts International’s (MGM) National Harbor project.
MGM recently secured a $525 million bank loan for the development of MGM National Harbor, LLC, a new casino destination in Prince George's County, Maryland. The new $1.3 billion project will create thousands of local jobs and aims to bolster the regional economy. National Harbor is expected to be completed by the end of 2016.
"We are appreciative of the support from our lenders in the development of MGM National Harbor," said Dan D'Arrigo, Executive Vice President, Chief Financial Officer and Treasurer of MGM Resorts International. "This transaction is an important part of the resort's construction progress and we are looking forward to opening this luxury resort later this year."
For more than 30 years, Casiello has practiced all aspects of gaming law, including licensing, acquisitions, compliance plans and investigations and financing. Named as one of the leading gaming attorneys in the world by Chambers Global, Casiello represents an array of clients in the gaming industry including, casinos, gaming equipment manufacturers and other technology providers, private equity firms and other investors.
Madamba is counsel with the firm and has practiced gaming law for almost two decades. He has represented casinos, private equity and investment banking firms, real estate developers, Internet gaming companies and gaming equipment vendors.