Maryland Casino Outperforms Delaware, Pennsylvania and New JerseyApril 19, 2013 11:29 am
The Maryland Live! Casino generated $44,613,545 in slots revenue throughout March, outperforming other casinos in the mid-Atlantic gaming market, including those in Delaware, Pennsylvania and New Jersey. Impressively, the casino’s March tally was 25% higher than its second placed rival, the Parx in Philadelphia, and also represented its strongest revenue month to date in its 10 months of operations.
Highlighting the extent of Maryland Live! Casino’s success is the fact that the state of Maryland has received $236 million in taxes from the casino since it first opened its doors on June 6th, 2012, working out to an average of $1 million in taxes per day. That figure may also soon rise with the addition of table games to the casino’s offerings last week.
One of the keys to the casino’s impressive performance has been its prime location situated, as it is, amongst the country’s wealthiest counties. In addition, its nearest competitors are more than an hours drive away in Charles Town and Perryville.
The Cordish Companies operates the Maryland Live! Casino, and buoyed by its encouraging results is now looking to reproduce its success elsewhere. The real estate development and entertainment business is currently hoping to obtain Philadelphia’s final available gaming license in order to build a $425 million Live! Hotel & Casino there, while also looking out for other potential markets, such as Massachusetts.
Commenting on Maryland Live! Casino’s success, The Cordish Companies Managing Partner Joe Weinberg, said: “We’re very proud of the world-class gaming, dining, and entertainment destination that we have created at Maryland Live! Casino. The Cordish Companies has a long history of developing some of the most profitable, best-in-class casino resorts and entertainment districts in the country. Our intent is to leverage the level of success we are enjoying at Maryland Live! to create true destination resorts in other gaming jurisdictions.”