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With new casino opening, a look back at Cordish's gambling record

Baltimore developer has dropped or been forced out of all prior casino ventures

June 03, 2012|By Steve Kilar, The Baltimore Sun

If Maryland Live is a success, McGill said, Cordish "definitely can be a player."

For now, Cordish is focused on launching Maryland Live, a venue that Weinberg sees as similar to the Seminole casino in Hollywood, Fla. — the one that piqued the company's interest in gambling.

Like Arundel Mills, the Hollywood casino is halfway between two major affluent cities, the principal sources of its clientele, Weinberg said.

"The only difference … is, in Florida we had to build the retail and entertainment complex to go along with the gaming," he said. "Here, we're able to position the Maryland Live casino as part of this existing regional destination that has great shopping and entertainment already."

steve.kilar@baltsun.com

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Timeline of Cordish Cos. gaming operations

January 2001: Cordish breaks ground on the Seminole Hard Rock Hotel & Resort in Hollywood, Fla.

March-May 2004: Seminole casinos in Tampa and Hollywood open several months apart. Within three years, the casinos generated more than $1 billion in profits.

October 2005: The Seminole tribe of Florida, instructed by the IRS, refinances its casino projects with taxable bonds and attempts to sever ties with Cordish.

May 2006: The tribe sues, alleging that the developer violated federal law by taking a "proprietary interest" in tribal gambling operations.

March 2007: The tribe settles with Cordish for $756 million, severing the partnership.

October 2007: Cordish reaches an agreement to develop and operate a casino at a horse track outside Indianapolis.

June 2008: Cordish confirms that it bid for Atlantic City's Tropicana Casino and Resort.

September 2008: Cordish wins a contract to develop a casino at Kansas Speedway in Kansas City.

September 2009: Cordish sells its interest in the Kansas casino to focus on building a casino at Arundel Mills mall.

December 2009: Cordish secures a Maryland license to build a slots casino at the mall.

July 2010: The owner of the Indianapolis "racino" notifies Cordish that it is terminating their management agreement. Cordish's first venture operating a casino is over by the end of the year.

November 2010: Anne Arundel voters approve zoning for Cordish's casino and entertainment complex at Arundel Mills.

February 2011: Cordish files a $600 million lawsuit against its former business partners in Indiana and the Maryland Jockey Club, alleging that they conspired to spread false information to sabotage development of the Maryland Live casino.

April 2011: Indianapolis Downs LLC, which owns the Indiana Live casino that was built and managed by Cordish, files for bankruptcy.

June 6: Cordish is scheduled to open Maryland Live casino at Arundel Mills.

Source: Baltimore Sun archives.

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