Cryor to BCEG: YOU JUST LOST ONE.*
Michael Cryor -- the Maryland face to the group bidding on a Baltimore slots emporium -- has dropped out.
He told us that he wrote a letter to Canadian home builder Michael Moldenhauer, the head of the Baltimore City Entertainment Group, informing him of the decision. Cryor said: “I wished him well. I severed my tie.”
The Baltimore City Entertainment Group (BCEG) was the sole group bidding to build a casino in Baltimore. They estimated they could earn $500 million a year in gaming revenues by building a slots parlor near the M&T Bank Stadium.
Their first plan was to construct a mirco facility with 500 slots machines on city land, but they quickly pledged to create a larger venue. The group was unable to deliver the necessary fees for the bigger casino and could not convince the state slots commission that their enhanced proposal would be viable. Their bid was rejected in December.
Moldenhauer and the BCEG have appealed the state’s decision. Cryor said in a brief interview that his interest in the slots project was to bring jobs and revenue to cash-strapped Maryland. “A protracted appeals process lengthens that time,” he said. A contentious appeal “is not the relationship I want to have with my city and state.”
*apologies to Lauryn Hill
He told us that he wrote a letter to Canadian home builder Michael Moldenhauer, the head of the Baltimore City Entertainment Group, informing him of the decision. Cryor said: “I wished him well. I severed my tie.”
The Baltimore City Entertainment Group (BCEG) was the sole group bidding to build a casino in Baltimore. They estimated they could earn $500 million a year in gaming revenues by building a slots parlor near the M&T Bank Stadium.
Their first plan was to construct a mirco facility with 500 slots machines on city land, but they quickly pledged to create a larger venue. The group was unable to deliver the necessary fees for the bigger casino and could not convince the state slots commission that their enhanced proposal would be viable. Their bid was rejected in December.
Moldenhauer and the BCEG have appealed the state’s decision. Cryor said in a brief interview that his interest in the slots project was to bring jobs and revenue to cash-strapped Maryland. “A protracted appeals process lengthens that time,” he said. A contentious appeal “is not the relationship I want to have with my city and state.”
*apologies to Lauryn Hill
Comments
Bobbie sue, whoa, whoa, she slipped away
Billy joe caught up to her the very next day
They got the money, hey
You know they got away
They headed down south and they're still running today
Singin go on take the money and run
http://www.youtube.com/watch?v=7Gu6EnpsDBc&feature=related
Posted by: MrRational | January 17, 2010 10:21 PM
You would think with the current budget deficit faced by the City that they would want to get something done ASAP. Why not put the slots in Pimlico Race Course AND in the Inner Harbor? I am sure there are other investors would put up the money if given the opportunity. Slots have been approved over a year ago. What the hell is taking so long get it running? Just more proof the Gov't has no clue what they are doing.
Posted by: Frank Rizzo | January 20, 2010 7:45 PM