Maryland Casino Revenue Up 6% to $143m in AprilMay 11, 2018 7:22 am
Maryland’s six casinos generated gross gaming revenue (GGR) of $143.5 million in April, marking a 5.7% increase compared to the $135.7 million collected in the same month a year ago.
As a result, the Free State has now returned four consecutive months of gains this year, providing much needed assistance to the Education Trust Fund, General Fund, and local impact grants which receive 40% of all casino GGR produced in the state.
Five Casinos Post Gains
In April, five out of Maryland’s six casinos posted year-on-year revenue gains, with the Horseshoe Casino Baltimore the state’s sole venue to see its business slide.
Leading the way in terms of revenue was MGM National Harbor, which collected $57.7 million from gamblers, or 15.6% more revenues than a year ago, from its 2,705 slot machines and 173 table games. Meanwhile, Live! Casino saw its GGR rise by 3.3% to $46.8 million (4,007 slots, 186 tables); followed by the Hollywood Casino Perryville up by 7.3% to $6.9 million (822 slots, 21 tables); Ocean Downs soaring by 14.8% to $5.5 million (892 slots); and Rocky Gap nudging up 2.8% to $4.7 million (665 slots, 17 tables).
Horseshoe Baltimore Losing Streak
The Horseshoe Casino Baltimore, on the other hand, continued its dismal run in 2018 by posting a fourth consecutive monthly year-on-year decline in April, with revenue from its 2,152 slot machines and 168 table games falling by 11.5% to $21.8 million.
Unfortunately, the Caesars Entertainment owned casino has seen its business suffer on account of Baltimore’s violent reputation, with the city having experienced more than 300 homicides over each of the past three years, with that statistic likely to continue in 2018 after reporting its 100th homicide on April 24.
Meanwhile, plans are afoot to transform the industrial and parking lot area in the vicinity into a more attractive entertainment district. In fact, Caesars and other investors have already purchased an old warehouse, office buildings, and other properties in the area in an attempt to form a corridor connecting the casino with other more alluring attractions, such as the football stadium, baseball park and Inner Harbor.
One such project is Hammerjacks, a large concert hall, sports bar and rentable space business that is expected to open in 2019 , and as Kevin Butler, president of Hammerjacks Entertainment Group, explains:
“You’ve got a billion dollars worth of stadiums as neighbors, the casino is now open and I envision this resembling a Bourbon Street atmosphere with restaurants and nightlife. And there’s plenty of parking.”
Live! Casino’s Smoking Patio
MGM National Harbor may have quickly become Maryland’s most popular casino after initially opening its doors in December 2016, but the state’s former number one, Live! Casino, is hoping to wrestle back some of its market share after opening its Orchid Gaming & Smoking Patio last week.
While all the state’s other casinos, with the exception of MGM, already feature outdoor smoking areas offering a selection of slots, Live! Casino at Arundel Mills in Hanover is Maryland’s first full-service outdoor smoking and gaming area. In fact, an impressive 40 live and electronic table games, as well as 150 slot machines are located in its 8,000-square-foot space, with gamblers also able to order drinks and cigars from its full-service bar.
“With Orchid, we have created a completely unique environment with a blend of gaming, music, design, and an upscale bar. Combine this amenity with the new luxury Live! Hotel, opening this month, and you have a destination unlike any other in Maryland,” stated ,” Rob Norton, president of Cordish Global Gaming.
Furthermore, by the end of this month, Live! is scheduled to have completed work on its adjacent 310-room luxury hotel tower to complement the 250 rooms its already offers at its Live! Lofts boutique hotel.
Poker Rooms Business Down
Finally, Maryland’s poker rooms collected $3.57 million in April, lower by 4.8% year-on-year, with revenues for the first four months of the year currently down by 2% to $15.24 million. As usual, MGM National Harbor led the market with $1.71 million taken at its 39 poker tables, followed by Live! Casino with $1.25 million from 52 tables.