Maryland Casino Revenues Up 8.4% To $72m In May

Maryland Casino Revenues Up 8.4% To $72m In MayThe Maryland Lottery and Gaming Control Agency has released its casino figures for June, revealing an 8.4% rise in gambling revenues to $72.05 million, compared to the $66.49 million generated in the same month last year.
The Free State has four casinos, the jewel in the crown of which is Maryland Live Casino, with 4,314 slot machines and 122 table games. In June the casino generated $56.5 million in revenues, up almost 10% over June 2013 and representing roughly 80% of Maryland’s total gambling revenues.
Next, Hollywood Casino Perryville collected $7 million in revenues, lower by 10% compared to June 2013. Consequently, the casino’s 1,158 slots and 22 table games generated $771,856 less revenues from June last year.
Meanwhile, the Casino at Ocean Downs saw revenues stay fairly flat, with its 800 slot machines generating 0.1% less revenues in June at $4.8 million.
Rocky Gap Casino Resort only opened for business in May 2013, and so June represented the first month in which the casino was able to make a full year-on-year comparison. The news, too, was good with its 577 slots and 16 table games generating $3.7 million in June, up a massive 50% over June 2013.
The USA’s casino industry has been struggling for a few years now, and the situation is not expected to change anytime soon. As noted by the wvgazette this week:
“Moody’s revised its outlook for the U.S. gaming industry from “stable” to “negative,” citing a “weaker demand, fixed nature of expenses, and oversupply” of casinos. It said a worrisome trend is that gaming revenues have remained flat for the past 18 months, despite improvement in the overall U.S. economy and the addition of new casinos.”
However, Maryland’s gambling industry continues to buck the trend and show solid growth, as reflected in a recent report released  by the US gaming industry for 2013, revealing a massive 98% rise in revenues, with only Ohio higher up the list, up by 149%.
Maryland has even further expansions planned ahead with the $442 million Horseshoe Casino slated to open in downtown Baltimore on August 26th, and the MGM National Harbor in Prince George’s County, which received Maryland’s sixth and final gambling license, expected to open in 2016.

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