{"id":1004161727,"date":"2016-12-13T03:44:22","date_gmt":"2016-12-13T11:44:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161727"},"modified":"2022-12-08T19:24:57","modified_gmt":"2022-12-09T03:24:57","slug":"mid-atlantic-version-of-vegas-opens-in-dc-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mid-atlantic-version-of-vegas-opens-in-dc-area\/","title":{"rendered":"Mid-Atlantic Version of Vegas Opens in DC Area"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

Oxon Hill, Md.<\/strong>–With a grand opening on December 8<\/a>, MGM Resorts International officially debuted MGM National Harbor, a mixed-use gaming resort just outside Washington, D.C., in Oxon Hill, Md. The global hospitality company has nicknamed the $1.4 billion development Vegas on the Potomac, and it\u2019s the first luxury gaming resort to come to the D.C. area.<\/p>\n

\"MGM<\/a>

MGM National Harbor (Photo credit: Stephen Wilkes)<\/p><\/div>\n

\u201cThis level of private investment is unprecedented in the region, and so is what we\u2019ve built,\u201d Jim Murren, chairman & CEO of MGM Resorts International, said in a prepared statement \u201cMGM Resorts has long promoted global trade and travel\u2014and\u00a0MGM National Harbor\u00a0will be\u00a0a significant\u00a0driver\u00a0of\u00a0both, strengthening Washington, D.C., as a tourist magnet.”<\/p>\n

It\u2019s a mini-Sin City wrapped in a sleek 24-story structure on a 23-acre site. The fully integrated resort features 125,000 square feet of gaming space; 308 hotel rooms; 18,000 square feet of high-end retail and restaurant offerings, including the highly anticipated, first standalone shoe boutique by Sarah Jessica Parker; a 3,000-seat theater; 40,000 square feet of meeting space; and a 27,000-square-foot spa and salon. This is not your grandma\u2019s casino. Designed by HKS Hospitality Group and built by general contractor Whiting Turner Construction Co.<\/a>, the LEED Gold-certified MGM National Harbor is also a\u00a0model of sustainability, with a 700,000-gallon cistern for rainwater harvesting, one of the largest privately operated combined heat and power energy plants in the D.C. area., and electric vehicle charging stations and parking spaces for low-emitting-fuel efficient cars.<\/p>\n

\"James<\/a>

James Murren, CEO, MGM Resorts International<\/p><\/div>\n

Visitors poured through the doors the evening of MGM National Harbor\u2019s opening, but every night won\u2019t be opening night. Success hinges on demand, and the current state of the Mid-Atlantic casino market is a mixed bag. \u201cThe general consensus is that the Mid-Atlantic region is fairly well saturated in terms of gaming demand,\u201d Brent Pirosch, director of gaming consulting with commercial real estate services firm CBRE\u2019s Global Gaming Group, told Commercial Property Executive<\/em>. He noted that the New Jersey market has been on the decline for more than a few years now, and West Virginia has experienced decreases in revenue due to rising competition.<\/p>\n

However, it\u2019s not all bad news for the region. According to Pirosch, the Pennsylvania market has gotten a boost from expanded table games offerings and in both New York and Maryland, numbers continue to go on the upswing. It appears today\u2019s regional gaming climate bodes well for MGM\u2019s newest project. \u201cMGM National Harbor will take market share from nearby competitors, but the size and quality of the facility is expected to grow the market overall,\u201d Pirosch added. \u201cVirginia is relatively untouched by gaming supply, and National Harbor\u2019s location will help it tap into additional customers from there.\u201d<\/p>\n

\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MGM National Harbor features gaming, hotel, restaurant and retail space, including the first standalone shoe boutique by Sarah Jessica Parker.<\/p>\n","protected":false},"author":969,"featured_media":1004508225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21751,11,21752,21742,21749,1615],"tags":[32779,33133,33131,33132],"class_list":["post-1004161727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-hotel","category-midatlantic","category-mixed-use","category-latest","category-retail","category-washington-dc","tag-leed","tag-mgm-national-harbor","tag-mgm-resorts-international","tag-whiting-turner"],"acf":[],"yoast_head":"\nMid-Atlantic Version of Vegas Opens in DC Area - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mid-atlantic-version-of-vegas-opens-in-dc-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mid-Atlantic Version of Vegas Opens in DC Area\" \/>\n<meta property=\"og:description\" content=\"MGM National Harbor features gaming, hotel, restaurant and retail space, including the first standalone shoe boutique by Sarah Jessica Parker.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mid-atlantic-version-of-vegas-opens-in-dc-area\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-13T11:44:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:24:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/MGM-National-Harbor-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"899\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mid-atlantic-version-of-vegas-opens-in-dc-area\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mid-atlantic-version-of-vegas-opens-in-dc-area\/\",\"name\":\"Mid-Atlantic Version of Vegas Opens in DC Area - 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