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Casinos in Maryland Post Record Revenue Gains Again in July

Post by Zachary Gleason on - Tags: , , ,

Casinos in Maryland set revenue record for third time

This is the third time that the casinos in Maryland have gone over $100 million, and their positive revenue gains streak is now into its eighth month. During the month of July, the combined revenue of the current five casinos in the state totaled $103.8 million, a total increase of 5 percent over the same month last year; with the record high being set in May with $104.4 million. This is a great improvement for the state, as well as for the casino operators.

Continued Prosperity for the Casinos

There are currently five casinos that operate within Maryland, with a sixth about to open in December; the MGM National Harbor property. The Maryland Lottery and Gaming Control Agency released the figures on Friday, showing that during the month of July most of the casinos showed improvement:

CASINO JULY 2016 REVENUE PERCENT DIFFERENCE
Maryland Live! $60.4 million +6.2%
Horseshoe Casino Baltimore $24.9 million +2.5%
Ocean Downs $6.5 million +2.5%
Rocky Gap Casino Resort $5.0 million +17%
Hollywood Casino Perryville $6.7 million -1.9%

 

Only one of the casinos had a decrease in revenue over the same month in the previous year, but it was a small decrease; their overall revenue has still increased over the previous months. Maryland Live! Casino is the largest in the state, which is why it generates 58 percent of the total revenue in the state.

Robert Norton, Maryland Live’s president was happy to see that their numbers were coming back strong,

“It took us a little time to ramp back up to record levels.”

July’s revenue is only bested by the $61.8 million generated in March of 2014, which is their current record. With eight consecutive months where slot machine and table game revenue has continuously improved is a great sign of the future that awaits them. With the close inauguration of the MGM property happening in December, it is believed that even more people will go to Maryland to visit the casinos. Now, if they could start legislation for online casino gaming, that would be great.

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