Maryland Casino Revenues Soar 38% in February

admin, March 8, 2017 11:09 am

Following the opening of the MGM National Harbor in December 2016, Maryland’s casino market has continued to grow exponentially, and after generating 43% more year-on-year revenues in January, has now returned an equally impressive 38% increase for February. Overall, Maryland’s six casinos generated $128.7 million last month, but if the MGM’s revenues were omitted from the statistics, the new figure would have resulted in an 11.1% contraction in the market.
In January, MGM National Harbor managed to usurp Maryland Live Casino as the biggest gambling venue in the Free State, but in February Maryland Live was back on top with $46.3 million in revenues. Nevertheless, that still represents a 14.3% contraction compared to the same month in 2016, and the casino has now suffered three straight months of y-o-y declines.
In the meantime, MGM National Harbor was not far behind in revenues, having generated $45.7 million in February, with much of Maryland Live’s slim edge appearing to be a result of its larger gaming area which features 3,941 slots and 209 table games, compared to MGM with 3,212 slots and 165 table games.
Commenting on the results, Alan Woinski, president of Gaming USA Corp., said that some of the initial novelty associated with the opening of MGM had now subsided, after which “some people start going back to the other one. It kind of balances itself out.” He also added that Maryland Live customers enjoyed easy access from the highway, before adding: “I don’t know why everybody counts out Maryland Live. There’s probably enough business to go around.”
Elsewhere around the state, the results were a mixed bag, with two casinos reporting positive growth and the other two a contraction in their year-on-year numbers. On the plus side, the Rocky Gap Casino Resort saw its business jump 13.9% to $4.3 million, while the slots-only Ocean Downs casino was up by a more moderate 3.5% to $4.0 million. On the flip side, the Horseshoe Casino Baltimore was down by 11.9% to $22 million, and the Hollywood Casino Perryville down by 4.6% to $6.2 million in February.

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