Business

Baltimore City’s liquor board on Thursday approved a marketplace liquor license for the Village of Cross Keys, a move that will enable patrons of restaurants at the complex to move about the courtyard with drinks in hand. Caves Valley Partners, the center’s owner, hopes to attract new restaurants by allowing them to go through a stream-lined liquor board approval process. This type of license has been approved for Lexington Market, Cross Street Market and other new projects where multiple eateries are located.

After a failed merger with OceanFirst Financial Corp. last year, Maryland’s Partners Bancorp has entered into a $167.8 million merger deal with Camp Hill, Pennsylvania-based startup Linkbancorp. The combined bank holding company will operate under the Linkbancorp (NASDAQ: LNKB) name, and the combined bank subsidiary will operate as Linkbank. The two subsidiaries of Partners, the Bank of Delmarva and Virginia Partners Bank, will operate as Linkbank and focus on Link’s regional business model.

The Greene Turtle will soon offer customers an opportunity to cast sports wagers while chowing down on wings and fries. The Columbia-based bar and restaurant chain is gearing up to be among the first small retail locations for sports betting in Maryland, where wagering so far has been limited to casinos, mobile apps and a few venues, such as Bingo World in Brooklyn Park, that were included in a state law establishing the parameters for sports betting.

Working much faster than anticipated, Valerie Connelly, vice president of government affairs for Choptank Electric, announced to the Eastern Shore Delegation the company is moving ahead completing two state expansion grants almost a year ahead of schedule, bringing fiber connectivity to “more than 2,300 unserved members.”

While Maryland will soon allow marijuana, the drug is still illegal federally, which can lead to confusion by employees that are required to take drug tests as a new hire, randomly and/or due to a workplace accident. Beginning on July 1, adults ages 21 and older will be allowed to use and possess up to 1.5 ounces of marijuana. Maryland will join more than 20 states and the District of Columbia that allow for the recreational use of the drug.

Tradepoint Atlantic is headed south, with plans for a $50 million-plus project at Port Tampa Bay that could significantly boost the port’s container business. Port Tampa Bay commissioners on Tuesday approved a 40-year lease on 35 acres to Tradepoint subsidiary Tradepoint Tampa, which plans to build an approximately 500,000-square-foot facility for the trans-loading of cargo between ocean containers, trucks and rail cars.

Sinclair Broadcast Group swung to a profit in the fourth quarter, but revenue plunged, missing Wall Street’s expectations. The Hunt Valley-based TV station owner reported income Wednesday of $55 million, or 79 cents per share in the October-to-December period, compared with a loss of $89 million, or loss of $1.18 per share, in the fourth quarter of 2021.

Medifast Inc.’s fourth quarter earnings were down, capping off a year of decline that the company thinks will continue into 2023. The Baltimore weight loss firm’s revenue declined from $377.83 million in the fourth quarter of 2021 to $377.25 million in the fourth quarter of 2022. The company reported profits of $26.5 million or $2.43 per share, compared to $34 million or $2.93 per share in the year-ago period, a 22% drop in profits.

Baltimore-based asset manager T. Rowe Price Wednesday announced it joined Bridgehouse Asset Managers and launched the T. Rowe Price Global Allocation Fund through Bridgehouse’s independent platform. The T. Rowe Price Global Allocation Fund seeks a combination of long-term capital appreciation and income by investing in a diverse global portfolio of stocks, bonds and alternatives diversified across interests.