05/13/2013 11:56AM

Penn National Gaming seeks casino license for Rosecroft Raceway

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Penn National Gaming Inc., the national gambling company, has submitted a proposal to Maryland regulators seeking a casino license at its Rosecroft Raceway just southeast of Washington, D.C.

Penn filed the proposal on Friday with the Maryland Video Lottery Facility Location Commission despite spending $42 million last year in an unsuccessful attempt to defeat a public referendum allowing for an additional casino license in Maryland. Penn opposed the ballot question because of concerns about the impact of another Maryland casino on a casino it already owns in the state and its other properties in West Virginia and Pennsylvania.

Penn’s proposal will compete with a submission from MGM Resorts International, which filed its own plans for a casino and resort at a National Harbor site just south of D.C. on Thursday. The MGM proposal is already considered the leading proposal because of its waterfront location.

Penn said in a release that it would spend $700 million to build a casino at Rosecroft, a harness track the company bought out of bankruptcy in 2011 for $10.25 million as a hedge on its casino operations in the Mid-Atlantic.