Maryland Casino Revenues Hit Record High in December

Maryland’s casino market generated record revenues of $133.5 million in December 2016, smashing the previous record set in May 2016 of $104.3 million. The huge 28% year-over-year boost to the state’s casino business came mostly as a result of the opening of a new $1.4 billion integrated casino resort on December 8th, namely the MGM National Harbor.
Last month, MGM National Harbor generated $41.9 million from 3,237 slot machines and 165 table games over its 23 full days of operation, with the venue’s general Manager Bill Boasberg commenting:
“In a little over three weeks, our performance exceeded our expectations. Clearly the introduction of our $1.4 billion dollar resort grew the casino market and was received warmly by our customers.”
Meanwhile, for the whole of December Maryland Live saw its 3,906 slot machines and 209 table games generate $48 million in revenues, down by 11.4% compared to the same month in 2015. Commenting on the results, Gaming USA Corp president Alan Woinski explained:
“The decline at Maryland Live was pretty much what it was when Horseshoe opened, below 15 percent. My guess is eventually both are going to find their niche. MGM will be more the destination resort.”
In the meantime, the state’s three other casino venues all reported year-on-year growth, led by the Horseshoe up 9.1% to $29.7 million. Maryland Lottery and Gaming Director Gordon Medenica subsequently expressed his pleasant surprise at the impressive boost to revenues, especially as the Horseshoe was also expected to have been impacted by MGM National Harbor’s opening. Elaborating further, Medenica stated that “for Horseshoe to have an up month was a real positive.”
Elsewhere, the Casino at Ocean Downs also noted a solid 6.1% revenue increase to $4.1 million from its 800 slot machines; while Rocky Gap Casino Resort noted a more modest 1.1% increase, with its 662 slot machines and 17 table games collecting $3.5 million throughout the month.
Commenting on expectations for Maryland’s casino industry going forwards, Gordon Medenica heaped further praise on the MGM National Harbor, describing it as an “outstanding facility in an ideal location” and stating his confidence that it will help fuel continued revenue growth in the future.