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HOLLYWOOD CASINO RESORT @ ROSECROFT -
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Keep letting the Selection Committee know you support Rosecroft and our future plans as well as our innovative proposal to further education and meet the medical needs of the residents of Prince George's County!
HOLLYWOOD CASINO APPLICANT ANNOUNCES PROFIT-SHARING PLAN FOR PRINCE GEORGE'S COUNTY HOSPITAL SYSTEM, TEACHERS AND LOCAL COMMUNITY ORGANIZATIONS
Wyomissing, PA & Oxon Hill, MD (October 21, 2013) – Today, Penn National Gaming and the Hollywood Casino Resort at Rosecroft Raceway, applicant for the Prince George's gaming license announces it will distribute 100% of its profits back to the Prince George's County community.
Details of the profit-sharing proposal will be highlighted in its presentation to the Maryland Video Lottery Facility Location Commission this afternoon. Profit shares will be distributed to the Prince George's County hospital system, to the creation of a new supplement retirement benefit plan for Prince George's County educators and to Prince George's County Council District 8 community organizations.
In an effort to provide the most benefit to the Prince George's County community, Penn National is amending its application to commit the following based on estimated earnings:
"We are proud to announce this profit-sharing plan for the Prince George's County community. We will be able to fund currently unfunded elements of the new hospital system, provide tools necessary for the county's education system to attract and retain educators and to support the neighbors closest to us and most impacted by our proposed development. This profit-sharing proposal will touch each and every resident in Prince George's County," explains Penn's President and COO, Tim Wilmott.
The teachers' supplement retirement plan will be the second of its kind in the State of Maryland. The first was created by Montgomery County. The Prince George's plan will be a defined contribution plan, distributed to all educators in the system without a matching requirement by those educators. Details about the plan will be discussed at greater length at today's public presentation to the Location Selection Commission.