The Cordish Company

What The Cordish Company does

The Cordish Companies is a multi-generational, family-owned real estate development and entertainment company founded circa 1910 and headquartered in Baltimore, Maryland. The company develops, owns, and operates large-scale mixed-use entertainment districts (branded as Live!), gaming resorts, hotels, luxury residential towers, commercial real estate, coworking spaces, and restaurant/entertainment concepts across major US markets including Baltimore, Kansas City, Philadelphia, St. Louis, Arlington, and Pittsburgh, with international operations in China, Japan, Taiwan, and Spain. Its core differentiator is the proprietary Live! entertainment district model and sports-anchored mixed-use development methodology, executed through strategic partnerships with professional sports teams (St. Louis Cardinals, Texas Rangers), tribal gaming operators (Seminole Tribe of Florida), hotel brands (Loews Hotels), and media companies (FOX Sports, NBC Sports, FanDuel).

The company's business model combines direct ownership and operation of physical destination properties with strategic co-development partnerships. Revenue is generated through diversified streams: gaming operations across Live! Casino & Hotel properties (Maryland, Philadelphia, Pittsburgh) and Seminole Hard Rock joint ventures; hospitality and hotel operations including Charleston Place, Live! Hotels, and Live! by Loews properties; luxury residential leasing at One Light, Two Light, Three Light, One Cardinal Way, and One Rangers Way towers; commercial real estate leasing including The PwC Pennant Building and district retail; restaurant and entertainment venue operations (50+ concepts including PBR, Sports & Social, Budweiser Brew House, Guy Fieri's Smokehouse); coworking memberships through Spark Baltimore, Spark KC, and Spark St. Louis; and private equity returns through Cordish Equity Partners. Go-to-market operates on both B2B enterprise channels (direct sales to municipalities, sports team owners, and corporate partners for large-scale development projects) and direct-to-consumer channels (walk-in traffic to destination properties). Notable infrastructure investments include $850M in Kansas City's Power & Light District, $400M+ in Ballpark Village, $700M in Live! Casino Philadelphia, and $150M in Live! Casino Pittsburgh, with combined 50M+ annual visitors across the entertainment district portfolio.

Name

The Cordish Company

Legal name

The Cordish Companies

Website

https://cordish.com

Company type

Private

Founded year

1910

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Cordish Companies is a multi-generational, family-owned developer and operator of large-scale mixed-use entertainment districts, gaming resorts, hotels, and luxury residential properties across major US markets and select international locations in Asia and Europe.

Ownership category

akta.pro rank

Product category

Real Estate Development and Hospitality

NAICS

Casinos (except Casino Hotels) (71321), Drinking Places (Alcoholic Beverages) (7224), Promoters of Performing Arts, Sports, and Similar Events with Facilities (71131), Gambling Industries (7132)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Nightlife Venue Groups & Operators (Multi-Location) (MPAGAIAL)

akta.pro secondary industries

Live Music Venues & Concert Bars (THAFAEAD), Nightclub & Small Live Venue Operations (Clubs, Bars with Stages) (MPAGALAF)

Keywords

• Commercial real estate development
• Entertainment district operations
• Casino and hotel resorts
• Luxury residential apartments
• Sports-anchored mixed-use districts

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Marketing or Sales, Personnel

Revenue model

1. Gaming Operations: Revenue from casino gaming operations including slots, table games, poker, and sports betting at Live! Casino properties and Seminole Hard Rock hotels and casinos
2. Entertainment District Operations: Revenue from operating entertainment districts including tenant rent, food and beverage operations, ticket sales, and event programming across Live! districts
3. Hospitality and Hotel Operations: Revenue from hotel room rentals, conference facilities, and luxury accommodations at Charleston Place, Live! Hotels, and Live! by Loews properties
4. Residential Real Estate Development: Revenue from luxury apartment rentals and operations at One Light, Two Light, Three Light, One Cardinal Way, and One Rangers Way residential towers
5. Commercial Real Estate: Revenue from office and retail leasing at commercial properties including The PwC Pennant Building and retail spaces across entertainment districts
6. Restaurant and Dining Concepts: Revenue from owned and operated restaurant and entertainment venues including sports bars, beer gardens, and celebrity chef concepts
7. Coworking Spaces: Revenue from Spark Baltimore, Spark KC, and Spark St. Louis coworking spaces through membership fees and flexible workspace leasing
8. Private Equity Investments: Returns from private equity investments through Cordish Equity Partners in small-cap managers and operating companies

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

The Cordish Companies develops, owns, and operates large-scale mixed-use urban entertainment districts, sports-anchored mixed-use developments, casino and hotel resorts, luxury residential towers, commercial real estate, coworking spaces, and restaurants under the proprietary Live! brand portfolio. The company generates revenue from gaming operations, hotel room rentals, restaurant and entertainment venue operations, residential and commercial leasing, and private equity investments.

Product overview

The Cordish Companies is a multi-generational, family-owned real estate development and hospitality company with over a century of operations. The company operates a diversified portfolio of interconnected products across commercial real estate, entertainment districts, gaming/hospitality, residential, and coworking sectors. Their core Live! brand encompasses entertainment districts (Live! districts), casino and hotel properties (Live! Casino & Hotel), and hotel extensions (Live! Hotels, Live! by Loews). The portfolio includes major sports-anchored developments like Ballpark Village and Texas Live!, luxury residential towers branded as Light Apartments (One Light, Two Light, Three Light), coworking spaces under the Spark brand, and over 50 restaurant and entertainment concepts. Their developments span major U.S. markets and internationally to Asia and Europe, with properties attracting over 50 million combined annual visitors.

Differentiator

Problem solved

Functional benefit

Brands

• Live!: The company's flagship brand for entertainment districts, casinos, hotels, and resorts featuring dining, entertainment, and hospitality destinations
• Spark Coworking
• Live! Hotels
• Live! by Loews
• Ballpark Village
• Live! Casino
• FanDuel Sports Network Live!
• Live! Resorts

Products and services

• Commercial Real Estate Development Large-scale commercial real estate development including office buildings, retail spaces, and mixed-use properties across multiple U.S. markets, sold and leased to corporate tenants.
• Live! Entertainment Districts World-class entertainment districts branded as Live! featuring dining, entertainment venues, retail, and nightlife attractions that attract over 50 million visitors annually across U.S. and international markets.
• Live! Casino & Hotel Maryland Premier gaming destination in Hanover, Maryland featuring casino gaming, hotel accommodations, and multiple dining venues, ranking among top ten largest casinos in the U.S.
• Live! Casino & Hotel Philadelphia $700 million world-class hotel, gaming, dining and entertainment destination in Philadelphia's Stadium District with over 2,000 slot machines and 130+ live action table games.
• Live! Casino Pittsburgh $150 million gaming and entertainment complex featuring 750 slot machines, 40 live table games, sportsbook, poker room, and multiple dining venues, generating $188 million annual economic impact and $47.5 million annual tax revenues.
• Seminole Hard Rock Hotels & Casinos (Hollywood & Tampa) Hard Rock-branded hotels and casinos in Hollywood and Tampa, Florida, developed in partnership with the Seminole Tribe of Florida, ranking among the top ten largest casinos in the U.S.
• Ballpark Village (St. Louis) $400 million retail, dining, entertainment, office and residential district in St. Louis developed in partnership with the St. Louis Cardinals, attracting over 6 million annual visitors.
• Power & Light District (Kansas City) $850 million, nine-city block retail, entertainment, office and residential district in downtown Kansas City, attracting 9.1 million annual visitors and catalyzing $5 billion in urban renaissance investment.
• Texas Live! (Arlington) 200,000 square foot world-class dining and entertainment district in Arlington, Texas between Globe Life Park and AT&T Stadium, including a 300-room hotel and 35,000 square foot convention facility.
• Live! Hotels (Charleston Place, Live! Hotel Maryland, Live! by Loews) Luxury hospitality developments including Charleston Place Hotel in Charleston, SC; Live! Hotel Maryland; and Live! by Loews hotels in Arlington, Texas and St. Louis, Missouri.
• One Light Luxury Apartments Luxury apartment tower in Kansas City Power & Light District featuring resident amenities including a certified sommelier and $5 million rooftop pool.
• Three Light Luxury Apartments 26-story, 288-unit luxury residential tower in Kansas City's Power & Light District.
• One Cardinal Way Luxury Apartments 29-story, 297-unit luxury apartment tower in Ballpark Village, St. Louis with direct views into Busch Stadium.
• One Rangers Way Luxury Apartments 300-unit luxury apartment building in Arlington, Texas opening 2024 adjacent to Globe Life Field and AT&T Stadium.
• Spark Coworking Spaces Urban coworking spaces providing flexible shared and private office spaces for entrepreneurs and startups, with locations in Baltimore, Kansas City, and St. Louis.
• Cordish Restaurant and Entertainment Concepts Over 50 owned and operated dining and entertainment venues including PBR Bar, Sports & Social, Budweiser Brew House, NBC Sports Arena, Fox Sports Midwest Live!, and Guy Fieri's Smokehouse.
• Cordish Equity Partners (Private Equity) Private investment arm founded in 1998 focusing on small-cap private equity opportunities in the United States, including a joint venture with Walsh & Company Asset Management of Australia.
• International Development Services Global expansion of urban planning, development and operating services to major Asian and European markets including master planning services and Live! branded integrated resorts, with projects in China, Taiwan, Japan, and Spain (Madrid).

Quantifiable outcome

• 50 million+ annual visitors to entertainment districts
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core, featured and minor.

• St. Louis CardinalscoreStrategic or Co-development PartnerDeveloped Ballpark Village in a 50/50 partnership with the St. Louis Cardinals, located directly next to Busch Stadium. This is the country's first fully integrated mixed-use development designed to deliver game-day excitement outside stadium walls. Currently in second phase of development.
• Texas RangerscoreStrategic or Co-development PartnerSelected as development partner for Texas Live!, a 200,000 square foot world-class dining and entertainment district, as well as a 300-room hotel and 35,000 square foot convention facility. Located directly between Globe Life Park and AT&T Stadium.
• AB In-BevfeaturedGTM or Marketing PartnerBrand partner in multiple Live! districts and festivals. AB In-Bev chose Cordish and Ballpark Village to create the first ever flagship Budweiser Brew House concept, nationally recognized as the gold standard for brand immersion and authenticity.
• Comcast XFINITYfeaturedGTM or Marketing PartnerPartnered with Cordish to launch its brand as part of the first Live! district in Philadelphia. Xfinity LIVE! provided opportunity to showcase brand in the middle of the sports and entertainment complex.
• Comcast SpectacorcoreStrategic or Co-development PartnerDeveloped XFINITY LIVE! in South Philadelphia's Sports Complex in partnership with Comcast Spectacor. The only single location in North America housing all four major professional sports teams (Eagles, Phillies, 76'ers, Flyers).
• FOX SportsfeaturedGTM or Marketing PartnerSponsor of FOX Sports Midwest Live! venue at Ballpark Village, a year-round central gathering place featuring a stage for live concerts, state-of-the-art 40-foot LED screen, 200-seat restaurant and VIP seating under a 100-foot retractable glass roof.
• Guy FierifeaturedStrategic or Co-development PartnerGuy Fieri's Smokehouse flagship location at Fourth Street Live features 6,700 square feet of dining space. Based on its success, a second location opened at Waterside District. Chef is award-winning restaurateur and American Royal BBQ Hall of Fame inductee.
• Hard Rock CafécoreStrategic or Co-development PartnerDeveloped two Hard Rock-themed hotels and casinos in Hollywood and Tampa, Florida in partnership. First Hard Rock hotels and casinos in the US outside of Las Vegas. Consistently rank among top performing casinos globally.
• Leinenkugel'sminorGTM or Marketing PartnerPartnered to open flagship Leinenkugel's Beer Garden at Power Plant Live! with 30+ draft beers. Partnership expanded with Leinenkugel's KC location in Power & Light District.
• NBC SportsfeaturedGTM or Marketing PartnerDeveloped first ever NBC Sports Arena in center of XFINITY LIVE! in Philadelphia. Features one of the largest indoor television screens in the nation.
• Professional Bull Riders (PBR)featuredStrategic or Co-development PartnerPBR partnered with Cordish to open PBR bars in major cities including Baltimore, Hampton, Louisville, Philadelphia, St. Louis, Kansas City, Norfolk, Arlington and Atlanta. High-energy venue with 'cool country' design and mechanical bull.
• Sporting Kansas CityfeaturedStrategic or Co-development PartnerPartnered to develop No Other Pub in Kansas City Power & Light District. Designed as a 'playground' for millennials with social lounge, gaming parlor, bowling, golf simulators, and expansive sports bar.
• St. Louis BluesfeaturedStrategic or Co-development PartnerLong-term partnership creating a clubhouse and venue for Blues fans at Ballpark Village. Series of in-season and out-of-season events allows fans and corporate partners to celebrate the team.
• Loews Hotels & CocoreStrategic or Co-development PartnerPartnership to create Live! by Loews chain of upscale hotels. First two hotels under construction at Texas Live! in Arlington and Ballpark Village in St. Louis. Partnership announced in 2018.
• PwCfeaturedChannel Partner/ Reseller/ DistributorAnchor tenant for The PwC Pennant Building, an 11-story Class-A office tower at Ballpark Village. First new construction office building in Downtown St. Louis in 30 years.
• FanDuelfeaturedGTM or Marketing PartnerFanDuel Sportsbook and Lounge operated at Live! Casino Pittsburgh and Live! Casino & Hotel Philadelphia. Partnership for sports betting operations within Cordish gaming properties.
• Seminole Tribe of FloridacoreStrategic or Co-development PartnerPartnership with the Seminole Tribe of Florida to develop Hard Rock Hotels & Casinos in Hollywood and Tampa, Florida - the first Hard Rock hotels and casinos in the US outside of Las Vegas.
• Taubman CompanyfeaturedStrategic or Co-development PartnerDeveloped Charleston Place Hotel in Charleston, South Carolina in partnership with Taubman Company. Five-star hotel combined with high-end retail and entertainment, voted one of top 50 hotels/resorts in the world.

Scale indicators16 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• The Howard Hughes Corporation: Owns and develops large-scale mixed-use, master-planned communities and entertainment districts (e.g., The Woodlands, Summerlin, NYC's Seaport). Most directly comparable as a long-horizon developer/operator of integrated live-work-play destinations anchored by sports venues and entertainment programming.
• Forest City Realty Trust (now part of Brookfield): Historic developer of large mixed-use urban districts including Barclays Center and Atlantic Yards in Brooklyn. Comparable as a developer of sports-anchored, mixed-use entertainment districts with long-duration capital and JV partnerships.
• Related Companies: Major U.S. developer of mixed-use, affordable housing, and entertainment-oriented projects (Hudson Yards, The Shed, related entertainment venues). Comparable as a large-scale mixed-use developer with integrated entertainment and lifestyle components.

Broad incumbents

• Penn Entertainment: Operates 40+ regional casinos plus the ESPN BET sportsbook; integrated gaming + entertainment + sports-betting model that mirrors Cordish's FanDuel Sportsbook integration at Live! Casino properties.
• Las Vegas Sands: Owner/operator of integrated resorts in Macau and Singapore (Venetian, Marina Bay Sands). Comparable as an integrated-resort developer with a strong Asian footprint — relevant given Cordish's Global Cities expansion into Asia.
• MGM Resorts International: Operates integrated casino-resort destinations with extensive entertainment, dining, sportsbook (BetMGM), and hotel offerings (Bellagio, MGM Grand, Mandalay Bay). Comparable as a large-scale gaming + entertainment + hospitality operator with a similarly strong entertainment-programming flywheel.
• Churchill Downs Incorporated: Owns/operates regional casinos, horse racing venues (Kentucky Derby), and sports betting platforms (Exacta, FanDuel partnership). Comparable as an entertainment-anchored gaming operator with destination-event properties.
• Caesars Entertainment: Largest U.S. casino-entertainment operator (Caesars, Harrah's, Horseshoe brands) with integrated sportsbook via Caesars Sportsbook. Comparable scale operator of regional and destination casinos with diversified lodging and entertainment revenue.
• Boyd Gaming: Operates 28+ regional casinos and entertainment properties across the U.S. (including FanDuel partnership). Comparable mid-scale regional casino operator with entertainment district-style amenities.
• Wynn Resorts: Owns/operates luxury integrated resorts (Wynn Las Vegas, Encore, Wynn Macau, Wynn Al Marjan). Comparable premium-position integrated-resort developer with strong F&B, hotel, and gaming mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cordishco
• YouTubeyoutube.com/cordishcomp
• Facebookfacebook.com/TheCordishCompanies
• LinkedInlinkedin.com/company/the-cordish-company
• Instagraminstagram.com/thecordishcompanies

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Cordish Company