Maryland Live’s dominance in the state’s casino market could be coming to an end. The Caesars-owned Horseshoe Casino Baltimore, the $442 million casino that many anticipate will generate anywhere from $425 million to $454 million in annual gambling revenue, is scheduled to open on August 26.
This has been a long time coming for the state’s fifth casino, which is being pegged as a suitable contender to Maryland Live and the latter’s run of dominance since opening its doors a little over two years ago. In as far as gambling offerings are concerned; the Horseshoe Casino will be right up there with Maryland Live, boasting a 122,000-square foot gambling space that will feature 2,500 slot machines and 100 table games. That’s not even counting the plethora of other entertainment and dining options the Horseshoe will feature.
The Horseshoe’s opening should have execs at Maryland Live curious to see how the new casino will fare in the state or at least how much revenue it will eat away from the latter. As it stands, Maryland Live accounts for 80 percent of the total gross gambling revenues the state generates on a monthly basis. With the Horseshoe joining the fold, those figures are widely expected to go down, but possibly not enough to put a serious dent on the money Maryland Live is already raking hand over fist.
Things could get even more interesting once the state’s sixth casino, an MGM-backed joint at National Harbor in Prince George’s County, opens in 2016. For now, it’s the Horseshoe Casino’s time in the spotlight. The countdown is on for its August 26 opening at which time all eyes will be on how it can take the battle to Maryland Live for casino supremacy in the state.
