Calling Penn National's bluff at Rosecroft

Our view: Gaming company has no real interest in racing at the Prince George's harness track but is making a long-shot bet on slots

12:33 p.m. EDT, July 7, 2011

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...Absent any legal commitment to cover losses, Penn National's interest in racing at Rosecroft would likely last precisely as long as the hope of expanded gambling legislation was alive in next year's General Assembly session. And any such bill would face long odds; given the difficulty of getting the state's original slots legislation through the House of Delegates, it's hard to imagine much appetite for expanding a program that isn't even fully up and running.

Lawmakers might be particularly disinclined to help Penn National since the reason the state's largest casino, at Arundel Mills mall, isn't yet open is that the company bankrolled the petition drive and referendum effort that delayed the groundbreaking there by several months, costing the state, Anne Arundel County and the horseracing industry tens of millions of dollars in tax revenue. They would probably be even less well disposed to the idea if Penn National walks away from its promise to resume live racing just because the racing commission is trying to make sure the company actually sticks to it...