Last week, members of the Charles County Delegation in the Maryland House of Delegates introduced legislation that will amend the Maryland constitution to allow slot machines at the Riverboat Restaurant in Colonial Beach. If passed by the state legislature, the bill will go to statewide referendum in 2012.
If approved by the voters, it will bring an estimated $46.5 million a year to the Maryland state government budget and $5 million a year to the Charles County government budget when fully implemented, according to study prepared by the Innovation Group.
Since a large portion of the Riverboat Restaurant juts out over the Potomac River, that section is legally part of Maryland and Charles County. Because of this unique geography, the study estimates that 91% of the people coming to the Riverboat will be from outside of Maryland.
The Riverboat can handle 1200 slots, but some improvements to the property will be necessary to reach that number, and would start with 600 slots upon passage of the amendment to the state’s constitution.
The town of Colonial Beach has a final draft of its Business District Restoration Plan from their consultant, Land Studios of Norfolk Va. Fred Rummage, the Mayor of Colonial Beach said, “Having Maryland slots in Colonial Beach is just the catalyst we need to jump start our revitalization plan, and the timing couldn’t be more perfect!”
Stan Palivoda, a spokesperson for Blueridge Ventures LLC said, “We’re very excited about this project and look forward to working with Colonial Beach, Charles County, the state of Virginia and the state of Maryland to make this a win-win for everyone. This location may be the only one of its kind where slots will bring in $52 million for Maryland and Charles County almost entirely from other states.”
More about Colonial Beach: www.colonial-beach-virginia-attractions.com/
