Maryland Casino Revenue Soars 30% in April

The addition of a sixth casino in Maryland last December is having a dramatic effect on the state’s casino market, with revenue coming in at $135.7 million in April, representing a huge 30.6% improvement compared to the same month in 2016. The casino responsible for all the stir is the $1.4 billion integrated resort called MGM National Harbor, without which the Free State’s casino industry would have experienced a 17.4% year-on-year revenue drop of $18.1 million.
April’s results mark the second highest total ever recorded by Maryland’s casinos, with the biggest coming only a month earlier when revenues of $141.2 million were generated in March. Prior to MGM’s opening, it was Maryland Live that dominated the market, but now clear daylight is beginning to open up between the two establishments with MGM firmly out in front.
Out of Maryland’s six casinos, MGM National Harbor topped the market in April with $49.9 million from its 3,139 slot machines and 165 table games. In the meantime, Maryland Live suffered a 21.6% contraction in its year-on-year business, with $45.3 million having been generated from its 3,896 slot machines and 202 table games.
Also noting contractions in their business was the Horseshoe Casino Baltimore down 18.7% to $24.6 million from its 2,202 slots and 177 table games; and the Hollywood Casino Perryville lower by 8% to $6.5 million from its 850 slots and 20 table games.
Bucking the negative trend, however, was the Rocky Gap Casino up 10.2% from its 662 slots and 17 table games; and the Casino at Ocean Downs, whose revenues were higher by 3.3% to $4.8 million from its 761 slot machine only operation.
The MGM National Harbor opening in Maryland was anticipated to have had an adverse impact on those casinos located nearest to it, namely Maryland Live and Horseshoe, and as a result these establishments were subsequently granted an increase in the amount of earnings they were able to keep from their slot machines.