CASINO

MGM Resorts rules Maryland, Detroit casino markets in April

TAGs: Detroit, Maryland

mgm-resorts-maryland-detroit-casinoMaryland’s casino market enjoyed a solid performance in April, with only one of its six operators in negative territory.

Figures released Monday by the Maryland Lottery and Gaming Agency show the state’s six casinos generated revenue of $143.5m in April, up 5.7% from the same month last year but below March 2018’s all-time peak of $150m.

As always, MGM Resorts’ National Harbor venue topped the revenue chart with over $57.7m, up 15.6% year-on-year but below the previous month’s record $60.4m performance. Cordish Co’s Live! Casino ranked second with $46.8m, up 3.3% year-on-year.

Caesars Entertainment’s Horseshoe Casino Baltimore was the month’s lone decliner, falling 11.5% to slightly under $21.8m. The decline was entirely due to the Shoe’s table games, which saw revenue fall to $8.25m from $10.9m last April.

As for the state’s lesser lights, Hollywood Casino Perryville was up 7.3% to $6.9m, Ocean Downs shot up 14.8% to $5.5m while Rocky Gap nudged up 2.8% to $4.7m.

The formerly market-leading Live! hopes to regain a little of its lost luster after launching the state’s first outdoor patio featuring table games, slots and smoking last week. Thematically correct, the launch was celebrated by cutting a cigar rather than a ribbon.

While three other Maryland properties offer smoking balconies with slots, the new 8k-square-foot Orchid Gaming & Smoking Patio goes one better, featuring 12 tables offering blackjack, baccarat and roulette, along with 28 electronic table game positions and over 150 slots.

MGM ALSO WINNING IN DETROIT
A little further north, Detroit’s three commercial casinos were also coming off a record revenue performance in March, and also failed to top that performance in April. According to the Michigan Gaming Control Board, the three casinos combined for a monthly total of $124m last month, up 2.5% from April 2017, but down 10.5% from March’s record $138.6m.

The MGM Grand Detroit reported revenue rising 3.2% to $51.2m, while MotorCity gained 3.7% to $43.7m. Greektown spoiled the party by slipping 0.5% to $29.1m. For the year-to-date, the market is up a modest 0.6% to $484m.

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