Maryland: Cordish Gaming Employees Now Own Share of Betting License 

Maryland: Cordish Gaming Employees Now Own Share of Betting License 

The Cordish Companies - Maryland

Cordish Gaming Group, the gaming section of the Cordish Companies, announced its prized employees would share ownership of its mobile sports betting license in Maryland.

In the Free State, this was one of the prerequisites for obtaining a license. Cordish Gaming compiled by ingeniously permitting its employees to purchase shares.

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Cordish Gaming Shares Ownership with Workers

Essentially, Cordish Gaming, the operator of Live! Casino & Hotel Maryland, permitted employees to purchase shares equal to up to 10 percent of the Maryland license. 

This action anticipates the company’s launch in the Free State. As of this writing, 90 Cordish staff throughout the firm’s casinos elected to purchase company shares. According to The Cordish Companies, more than half of these individuals are women or members of minority groups.

Cordish Gaming operates three of Live! Casino & Hotel facilities – one in Maryland, one in Pittsburgh and one in Philadelphia. The gaming sector expects the new ownership structure to affect its operations and varied personnel positively. Cordish Gaming intends to help its staff who have proved their loyalty to the company.

Furthermore, the move is in keeping with the Maryland Sports Wagering Application Review Commission’s standards, which say that 5% of applicant ownership have a personal net worth comparable with the state’s working families. 

By permitting its members to own shares, Cordish Gaming satisfies this criteria while doubling down on its people-first approach rather than seeking outside investors.

Norton expressed gratitude to everybody who supported the company

Rob Norton, the president of Cordish Gaming Group, emphasized that Cordish Gaming intends to continue being a “family-oriented and privately held company.” 

According to Norton, the operator’s decision to split ownership with its staff is an innovative method of recognizing its dedicated team members.

As soon as Maryland mandated that the company share 5% of its own with families in the Free State, Cordish Gaming recognized this was the correct strategy, according to him.

Norton congratulated all team members for their participation in the Maryland endeavor. He concluded that this novel strategy will assist the company in adhering to the regulations established by the Maryland Sports Wagering Application Review Commission while ensuring diverse, equitable, and inclusive ownership participation. 

The Cordish Companies were picked in October to construct a new casino resort in Petersburg. The city council selected the Cordish Companies due to their great track record and considerable experience in the gaming industry.

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About Lou De Aguila

Lou Aguila is a contributor to Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.