Maryland Casino Revenues Rise 8.4% to $1.1BN in 2015January 6, 2016 2:50 pm
Maryland has ended 2015 on a solid note after its casinos generated revenues of $95.2 million in December, up by 11% compared to the same month last year. Furthermore, all of the state’s land-based casinos reported an increase in their year-on-year revenues in what proved to be one of the most lucrative December months since gambling legalization was passed, according to the Maryland Lottery and Gaming Control Agency.
Leading the market in terms of revenue was Maryland Live! Casino, whose 3,994 slot machines and 206 table games generated revenues of $54.2 million, an improvement of 7.9% from December 2014. Next highest was the Horseshoe Casino Baltimore, which reported a 19% increase in business to $27.3 million, the highest growth of all Maryland’s operations, from its 2,202 slot machines and 178 table games.
The next tier of casinos in terms of size also noted some very impressive growth results; Hollywood Casino Perryville with 850 slot machines and 22 table games was up by 5% to $6.3 million; Casino at Ocean Downs with 800 slot machines only was up 15% to $3.9 million; and finally the Rocky Gap Casino Resort with 631 slot machines and 18 table games was up by 14% to $3.5 million.
With all 12 months’ results counted, it can now be revealed that Maryland’s casino industry generated $1.1 billion throughout 2015, marking an 8.4% improvement over 2014’s tally, and an impressive increase over the $750 million that was collected in 2013. In 2015, Maryland Live accounted for $629.7 million of revenues, followed by the Horseshoe ($289.4m), Hollywood Casino Perryville ($77.3m), Ocean Downs ($55.9m), and Rocky Gap ($46m).
This year, Maryland is expected to see its sixth land-based casino open for business, after the MGM Resorts International was granted a license back in December 2013. The MGM National Harbor will cost around $925 million to complete, and in the first quarter of 2016 will start hiring around 3,600 people in anticipation of opening sometime in the second half of 2016.