Maryland Casinos Hit Record $78m Revenues In March

admin, April 8, 2014 2:58 pm

Maryland Casinos Hit Record $78m Revenues In MarchThe Maryland Lottery and Gaming Control Agency has released its casino figures for March, revealing a record $78 million in gross gambling revenues, smashing the previous record of $71 million set last August. Excluding the Rocky Gap Casino Resort, which only opened last May, revenues were up by 27.3% year-over-year.
Helping to explain some of the state’s impressive results was the calendar as last month had five weekends, thus providing Maryland’s four casinos more trading days than usual.
The state then collected over half the total by way of taxes, with the biggest beneficiary being the Education Trust Fund. In 2013, for instance, Maryland casinos generated $750 million in gambling revenue, with $415 million collected in taxes, $315 million of which went towards the Education Trust Fund.
Breaking the figures down further, the state’s largest casino Maryland Live raked in $61.8 million in March, decimating the casino’s previous revenue record of $55 million set last May. It also represented a 38.5% increase compared to the same month last year, with Maryland Live’s 4,322 slot machines accounting for $38.1 million in revenues, and its table games generating a further $23.6 million.
Commenting on its continuing dominance of Maryland’s casino industry, the gambling venue’s president and general manager Robert Norton, said: “With our world-class facility, location, amenities, and service, we will continue to be the market leader.”
Elsewhere around the state, Hollywood Casino Perryville generated $7.9 million in revenues, down 16.5% from last March; Casino at Ocean Downs about $4.2 million, up 5% from last year; while the Rocky Gap Casino Resort which only opened up last May, took in nearly $4 million.
Going forward, the state’s casino landscape is likely to undergo a radical transformation after the industry is expanded further to accommodate two new casinos, including the Horseshoe Casino due to open up in downtown Baltimore come September, and the MGM National Harbor due to open its doors in Prince George’s County in 2016.

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