Maryland Casinos Report Seven Month of Growth in June

Maryland’s casinos have continued their hot streak which started back in December 2015, and last month reported a 2.1% increase in combined revenues, marking seven months of continuous year-on-year revenue gains. In total, the Free State’s five casinos generated $93.3 million in June, higher by $1.9 million compared to June 2015, with slots revenues up by 6.6%, and table games noting an impressive 17.5% improvement.
Leading Maryland’s casino market in June was Maryland Live!, whose 3,923 slot machines and 206 table games produced $53.7 million in revenues, up by 1.5% from June 2015. Next highest was the Horseshoe Casino Baltimore, whose 2,202 slot machines and 178 table games generated 5.9% more revenues at $24.5 million.
Also reporting an increase in year-on-year business was the Casino at Ocean Downs, whose 800 slot machines collected 4.2% more revenues at $5.1 million; and Rocky Gap Casino Resort, whose 634 slot machines and 18 table games were up by 12.6% to $4.2 million in June.
In fact, just the Hollywood Casino Perryville with 850 slot machines and 22 table games saw its revenues fall, with business down by 7% to $6 million year-over-year.
By the end of 2016, Maryland’s sixth and final casino, the $1.3 billion MGM National Harbor, is expected to open its doors for business. In the meantime, Maryland Live, concerned over predictions about a possible 17% hit to its business, is currently spending an extra $200 million on its property to persuade customers not to drive to the soon-to-open resort 35 miles up the road. Extra facilities include a 17-story hotel, a conference center, day spa, restaurants, and a 1,500-seated theater.
In 2015, Maryland’s casino market generated revenues of $1.1 billion, higher by 8.4% compared to 2014, with Maryland Live accounting for $629.7 million of that tally, followed by Horseshoe ($289.4m), Hollywood Casino Perryville ($77.3m), Ocean Downs ($55.9m), and Rocky Gap ($46m). Gambling taxes collected by the local government subsequently went to worthy causes, with Maryland Lottery spokeswoman Carole Bober Gentry explaining:
“.. the largest percentage goes to the education trust fund. Of course, it also goes to small, minority and women-owned businesses, it goes to the horse racing industry and it goes to local impact grants.”