Ocean Enterprise 589 LLC at Ocean Downs Wins First Maryland Slots Approval

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BERLIN, Md.-(Business Wire)-September 23, 2009 - Ocean Enterprise 589 at Ocean Downs won state approval today to offer slots at Ocean Downs Racetrack, making it the first organization in Maryland to win the endorsement of the Maryland Video Lottery Facility Location Commission.

“We are very pleased to win approval,” said Ocean Enterprise 589 LLC President William M. Rickman Jr. “We thank the state of Maryland, the Maryland Lottery Office, the Maryland Video Lottery Facility Location Commission, the residents of the state and everyone who has been involved in the slots effort for making this day possible.”

“With the approval, I believe this ushers in a new era of Mid-Atlantic cooperation,” said Rickman. Ocean Enterprise 589 will immediately move forward with plans to convert Ocean Downs’ existing 34,000 square foot grandstand into a gaming area. The new casino is expected to be completed by Memorial Day 2010 and will initially house up to 600 slot machines. The remaining 200 approved machines will be added within one year of the casino opening.

Approximately 265 employees will be needed to staff the Ocean Enterprise 589 slots operation, with hiring for management positions expected to begin later this year, Rickman said.

“We expect that most of our team members—and many of our customers—will be from the local vicinity: Worcester County, Ocean City and Ocean Pines,” he said.

The approval for Ocean Enterprise 589 will add jobs at a time when jobs are needed and will benefit both the residents of Maryland and the state horse racing industry, Rickman said.

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