Fox Team Obtains Licensing for $800M CasinoOctober 17, 2013 – Press Releases
Nicholas Casiello, Patrick Madamba, Jr. and Harry Jackson, attorneys with the national law firm of Fox Rothschild LLP, recently represented MGM Resorts International through the process of obtaining a license for a new proposed casino location in Prince George’s County, Maryland. MGM's anticipated project, if approved, is estimated to cost in excess of $800 million.
The six-month investigation process to obtain the project license commenced in March 2013. It involved some 40 individual applicants and seven entity applicants, including Kirk Kerkorian's Tracinda Corporation and affiliates of Dubai World, a UAE sovereign wealth fund, and was conducted in several states, including Nevada, and Macau.
On October 10, 2013, the Maryland Lottery and Gaming Control Commission issued a casino operator's license to a subsidiary of MGM, the world's second largest casino company based on revenues.
MGM will compete against two other companies for the right to construct a casino in the second phase of the process. If approved, the casino would host 4,000 slot machines and an estimated 250 table games and create 2,000 construction jobs and approximately 4,000 permanent jobs. The 1.7-million-square-foot proposed facility would sit atop a 1,600-foot pedestal, boasting breathtaking views of the Potamac River and Washington Monument.
A decision from the Maryland Lottery and Gaming Control Commission as to which project will be green-lighted is expected by the end of the year.
Chair of the firm’s Gaming Practice Group, Casiello has practiced all aspects of gaming law for more than 30 years, including licensing, acquisitions, compliance plans and investigations, and financing. Named as one of the leading gaming attorneys in the world by Chambers Global, Casiello’s clients include casinos, gaming equipment manufacturers and other technology providers, private equity firms and other investors.
Madamba is of 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.
Jackson, an associate, focuses his practice on gaming law matters.