Maryland lawmakers sign off on sixth casino, add table games and lower the gaming tax

The measure also lowers Maryland’s gaming tax rate from an industry-high 67 percent on casino revenues.

MGM Resorts International has proposed building a $700 million complex in National Harbor, a development along the Potomac River, about 10 miles from Washington D.C.

Democratic Gov. Martin O’Malley is expected to sign the bill, allowing table games, such as blackjack and roulette, to be operated at the state’s existing casinos, which are slot machine-only locations.

The Maryland Senate, which passed a similar bill last week, is expected to sign off on changes made by the House, possibly by tonight. The gaming bill was the only measure being considered by the special legislative session called by O’Malley.

Some analysts believe that if Maryland builds out all six casinos, the state could rival Pennsylvania for gaming concentration. Caesars Entertainment Corp. is planning to build the $300 million Harrah’s Baltimore near Oriole Park at Camden Yards and M&T Bank Stadium, home of the Baltimore Ravens.

Voters would get the final say in November on whether the plan goes forward.

A key part of the bill lowers the state’s tax rate to varying degrees for the state’s casinos, partly to offset added competition from a new casino in Prince George’s County and also to divest the state from purchasing expensive slot machines.

The rate for the planned Caesars casino would drop 7 percentage points. The tax rate for Maryland Live! in Anne Arundel County would be lowered by 8 percentage points.

Maryland casinos also would get an additional tax rate cut, if they agree to take over ownership of slot machines. Maryland Live! would get a further tax rate reduction of 8 percentage points for buying the machines. Other casinos would get a 6 percentage-point rate cut.