Maryland Casinos Enjoy Record Breaking AprilMay 6, 2016 11:10 am
Maryland’s casino market enjoyed its best ever month to date in April, with the state’s five casinos generating $103.9 million in revenues, up by 16.8% compared to the $98.95 million that was collected in the same month last year. From that tally, table games produced $38.7 million in revenues, up by $7 million from April 2015, while slots revenues, too, improved by almost $8 million to $65.1 million.
Last month was also the first time The Keystone State’s casino revenues have ever broken the $100 million mark, and commenting on the impressive figures, Maryland Lottery and Gaming Director Gordon Medenica said:
“This is another great milestone for Maryland’s casinos. We’re looking forward to continued growth of the state’s casino industry, and of course, that means more funding for important state programs.”
Furthermore, April’s results represented five months of consecutive growth for the state’s casino market, with all five gambling venues also reporting year-over-year growth last month. Leading the way was the Horseshoe Casino Baltimore which saw its revenues increase by 31.9% to $30.2 million, followed by the state’s largest casino, Maryland Live, which posted a 13.4% improvement in business to $57.8 million. Likewise, Oceans Downs was up by 8.9% to $4.7 million, Rocky Gap Casino Resort was up 6.1% to $4.2 million, and Hollywood Casino Perryville was up 2% to $7 million in April.
Following its record-breaking month, Maryland’s coffers received an extra boost with its Education Trust Fund collecting $36 million, the horse racing industry given $5 million, local impact grants receiving $3.5 million, and with a further $950,00 going towards small businesses.
Maryland was not the only Mid-Atlantic state to report bumper revenues recently, though, and as Gaming USA Corp president, Alan Woinski, explains: “The economy is better, there is job growth and there are lower gas prices. More people will jump in the car and go places. Regional gaming revenue has been up for six months across the country, and Ohio, Maryland and Pennsylvania have been three of the strongest markets. Those are also the newest markets. The newest markets take a little longer to ramp up.”