Industry Reports

Maryland Casinos Set New Revenue Record Generating $156.5 Million in May

May was a successful month for the gambling industry is Maryland where casinos set a new revenue record of $156.5 million. According to Maryland Lottery and Gaming, all six casinos in the state posted increased monthly earnings but it was MGM National Harbor that saw the biggest revenue and the most significant growth.

This is the first time, since MGM National Harbor opened on December 8, 2016, all casinos in the state post an increase in their revenues. Bringing in more than $156.5 last month, the six properties broke March’s record of nearly $150.1 million and generated $20 million more than they did in May 2017. This is a rise of 14.7 per cent compared to the $136.46 million made in the same period last year. MGM National Harbor in Prince George’s County is the latest casino to open in the state but despite that, it seems to be the most popular and successful one, at least according to the data released today by Maryland Lottery and Gaming.

The $1.4 billion resort brought in $62.3 million in gaming revenue last month, up 23.2 per cent over the figures for May 2017. The MGM Resorts International-operated casino, along with its biggest competitor generated the biggest portion of the gaming revenue in the state. The second-best financial performance was posted by Live!Casino, a gambling and entertainment complex in Hanover, which generated $52 million in revenue, an increase of 13.4 per cent over the same period last year. On Wednesday, June 6, casino owner and operator Cordish Companies launch the Live!Hotel in a move expected to bring more traffic and revenue to the resort. With its 4,004 slot machines and 198 table games, Live!Casino and Hotel has the largest gaming offering in the state.

The property that brought in the third highest revenue in the month of May was Horseshoe Casino Baltimore, the second-largest casino in Maryland by gaming floor size. Jointly operated by Caesars Entertainment and Jack Entertainment, it generated $24.1 million in May, a slight increase of 2 per cent year-on-year. Last month, the casino saw its first rise in revenues since December 2016.

Revenue Growth Even for Maryland’s Small Casinos

Compared to the MGM, Live!Casino and Horseshow Baltimore, the rest of the casinos in the state may be described as small, but they offer everything every good casino should have. Among them is Hollywood Casino Perryville, a casino with 75,000 sq.ft. gaming floor where patrons are offered 822 slot machines and 22 table games. Last month, it collected almost $6.8 million in revenue, up 6.7 per cent from May 2017. This was the first casino to open in Maryland – this happened on September 17, 2010.

The next casino is Ocean Downs, a harness track and casino in Berlin, Worcester County, which totalled $6.4 million from slot machines and table games last month. It reported the second-largest growth of 21 per cent over May 2017 figures. The sixth Maryland casino also saw positive growth in revenues for May. This is the Rocky Gap Casino Resort, a Golden Entertainment-operated property in Western Maryland. Last month, it collected more than $4.9 million in revenues, a 3.9 per cent increase from the same period last year.