Maryland Casino Revenues Surge for 10th Straight Month
Posted on: October 6, 2016, 04:30h.
Last updated on: October 6, 2016, 04:10h.
Maryland casinos are reporting revenue increases for the tenth month in a row.
The state’s five casinos collectively generated $97.1 million in gross gaming income, an 11 percent increase in a year-to-year comparison with 2015. Though the 30-day total slid from August’s $100.3 million mark, kicking off the first month of fall 11 percent higher than last year is a positive sign.
Maryland Live was once again the MVP. The Arundel Mills casino collected $53.9 million, or 55 percent of the statewide take.
But in terms of percentage increases, it was Horseshoe Baltimore that took top billing. The Caesars property posted revenue of $26.9 million, up 21.6 percent on September 2015.
“We’re very pleased with our September performance,” Horseshoe Baltimore General Manager Erin Chamberlin told the Baltimore Sun.
Located within walking distance of M&T Bank Stadium and Oriole Park at Camden Yards, the downtown Baltimore casino benefited from the Orioles making a late charge at the MLB postseason, and the beloved Ravens hosting their first NFL game of the year.
Aside from Maryland Live and Horseshoe, the state’s three regional casinos, Hollywood Casino Perryville, Casino at Ocean Downs, and Rocky Gap Resort, garnered $16.23 million.
Maryland voters approved a state constitutional referendum in 2008 to issue six casino licenses.
The sixth and final casino is finally nearing completion and ready to welcome visitors. MGM National Harbor, the $1.4 billion resort 10 miles southeast of Washington, DC, will officially open on December 8.
Maryland Live hasn’t exactly been the most welcoming competitor.
Located 40 miles to the north, the casino with the most slot machines and tables in Maryland announced in June it was constructing a $200 million hotel that will feature 310 guestrooms when completed. National Harbor, which has been under construction since April 2014, will offer 308 hotel rooms.
The following month, Maryland Live sued MGM for allegedly hiring several of its former employees who had access to VIP player lists. MGM shrugged off the case, saying it was “nothing more than a thinly disguised attempt to stifle the competition.”
Plenty to Go Around
While Maryland Live is understandably concerned with retaining its customers and revenue, MGM believes there are plenty of fish left in the gaming sea.
The Washington, DC, metro is home to more than six million residents. And Live might be only 40 miles away, but those 40 miles can take hours depending on the time of day.
Anyone who has lived in DC knows traveling 40 miles isn’t something to be taken lightly.
Behind only Los Angeles, the nation’s capital is home to the worst traffic in America. According to INRIX, a data analytics company that monitors traffic congestion, the average DC resident spends 75 hours in traffic each year.
MGM CEO Jim Murren’s goal for National Harbor is to make the resort a world-class destination, and not simply a casino. From marketing to tourists descending on DC, to trying to attract business meetings and weddings, MGM’s newest resort seems to be a hospitality-first operation.
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