Maryland Casino Revenues Hit New Record High in May

admin, June 15, 2016 3:10 pm

Maryland’s casino market generated revenues of $104.4 million in May, marking a new record high for the state, and besting the previous record of $103.9 million set in April. It also represents a solid 8.3% increase compared to the same month in 2015, and commenting on the impressive figures, Gordon Medenica, the Maryland Lottery and Gaming Director, said:
“Maryland’s casino business is on a roll. Two consecutive record months is a noteworthy achievement and I congratulate all of our casino partners. Well done!”
From the total, $67 million came from the casinos’ slot machine operations, with the remaining $37.4 million derived from their table games.
Leading Maryland’s market in terms of revenues was Maryland Live Casino with $59.08m, up by 1.8% versus May 2015; followed by the Horseshoe Casino Baltimore with $28.8m (+31.3%); Hollywood Casino Perryville with $6.9m (-3.1%); the Casino at Ocean Downs with $5.15m; and finally the Rocky Gap Casino Resort with $4.42m (+4.1%).
Maryland opened its first casino back in September 2010, and in 2015 the state saw its casino revenues increase 8.4% to $1.1 billion, marking a huge improvement over the $750 million that was generated for the whole of 2013. This summer the Free State is expected to see a sixth casino, the $1.2 billion MGM National Harbor, open its doors for business. In addition to its casino, the gambling resort will offer a hotel complete with 308 bedrooms, and seven restaurants. However, concerns exist that being located so close to Washington, D.C could impact Maryland Live’s gaming revenues, but trying to allay such concerns, professor James Karmel from Harford Community College explained:
“It has a greater potential than any of the other sites to be a resort destination. I think if the leadership of MGM was only anticipating making revenue.. through Maryland [customers], it wouldn’t be enough to justify investing that massive amount.”
MGM National Harbor is also expected to pick up some extra custom from the nearby Gaylord National Resort and Convention Center, a huge non-gaming resort that has 2,000 guest rooms, and cost $870 million to complete.

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