Maryland Casino Revenue Up 1.2% in January

Maryland Lottery and Gaming has released its latest results for January, revealing a mere 1.2% increase in revenues to $127.8 million compared to the $126.2 million collected in the same month last year. January also marks the first full month in which a year-over-year comparison can be made for all of the state’s six casinos as Maryland’s newest venue, MGM National Harbor, opened its doors for business back in December of 2016.
The MGM National Harbor came to dominate Maryland’s casino market soon after its opening and last month was no exception with the property generating $50.24 million from its 2,710 slot machines and 173 table games, or 2.9% more versus January 2017.
Live! Casino has been one of the two casinos most affected by MGM’s opening, and its waning fortunes continued into the first month of this year with revenues from its 3,850 slots and 186 table games falling by 1% to $43.54 million. The other nearby casino affected by MGM’s operation is the Horseshoe Casino Baltimore, and likewise it, too, saw its revenues drop by 0.7% to $20.07 million from its 2,202 slots and 175 table games.
Elsewhere, the Free State’s other much smaller venues presented a mixed bag of results with Ocean Downs Casino seeing its year-on-year business soar by 23.6% to $4.54 million, while Hollywood Casino Perryville posted a 1.2% decline to $5.7 million, and the Rocky Gap Casino Resort saw its revenues shrink by 1.1% to $3.68 million.
Maryland’s casino market generates significant revenues which help support various projects in the state, including the Maryland General Fund, local impact grants, the horse racing industry, and the Maryland Education Trust fund. However, money directed towards the latter has not increased beyond that which is required by state law, with subsequent increases in revenue being channeled towards other government programs.
That may soon all change if State Delegate Del. Maggie McIntosh and Sen. Joan Carter Conway get their way, and elaborating further on their plans, Betty Weller, president of the Maryland State Education Association, explained:
“It’s time for a bold plan to improve learning and working conditions in our school and make sure that no matter what neighborhood you live in, there’s a strong public school where every student gets an equal opportunity at success.”