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Maryland Casinos See Revenue Increase In January

Post by Sadonna Price on -

Six casinos are currently operating in the state of Maryland, with the Maryland Lottery and Gaming Control Agency releasing January revenue totals for the gaming venues this week. Reports show that the casinos were able to generate $127.8 million for the month, a 1.2% increase when compared to January 2017.

In January of last year, the casinos in Maryland earned $126.2 million. This past January actually marks the first full month when the totals can be compared year over year after the launch of the MGM National Harbor. The MGM gaming venue opened in mid-December 2016 with January 2017 being the first full month that the casino was in operation.

For January 2018, only the Ocean Downs Casino and MGM were able to see an increase in revenue when compared to the same month the previous year. MGM earned $50.2 million for the month, a 2.9% increase. Ocean Downs earned $4.5 million which is a big increase of 23.6%. Ocean Downs saw a huge increase due to the introduction of table games from this past December. The table games certainly helped to beef up overall monthly totals for the casino.

The four remaining casinos of the state saw a decrease in earnings. Live! Casino brought in $43.5 million for the month, a 1% decrease. The Horseshoe Casino Baltimore earned revenues of $20 million for January, a 0.7% decrease. Rocky Gap was down 1.1% after $3.7 million was earned last month while Hollywood Casino Perryville was down 1.2% with $5.7 million in earnings.

Revenues generated from the six operating casinos of the state go towards the Maryland Education Trust Fund. Money is also used to fund grants locally, the horse racing industry, the General Fund of the state and other areas. The slight increase in earnings is certainly welcome as Maryland, like other states in the US, need additional funds to support budget needs.

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