Maryland casinos smash revenue record as all six venues gain


maryland-casino-revenue-recordMaryland’s six casinos set a new all-time monthly revenue record in May, led by an equally record-setting performance by the state’s newest venue.

Figures released Tuesday by the Maryland Lottery and Gaming Agency show the state’s six licensed casino operators generated combined gaming revenue of $156.5m in May, up 14.7% from the same month last year and easily eclipsing the previous record of just over $150m set this March.

May’s gains were across the board, with statewide slots revenue shooting up over 15% to $96.5m, while the table game figure was up 14% to $60m. The slots figure alone is $4.5m more than the total gaming revenue generated in November 2016, the last month before MGM Resorts’ National Harbor opened to the public.

Speaking of, May was also a record-setting month for National Harbor, which generated revenue of $62.3m, over 23% higher year-on-year and nearly $2m more than the property’s previous record (also set in March 2018).

Cordish Companies’ Live! Casino & Hotel generated revenue of just over $52m, up 13.4% year-on-year. Caesars Entertainment’s Horseshoe Casino Baltimore was up 2% to $24.1m, marking the first time the property has posted a year-on-year improvement since National Harbor opened.

The state’s three lesser lights were also in positive territory, marking the first time all six venues have posted gains since National Harbor arrived on the scene. Hollywood Casino Perryville was up 6.7% to $6.8m, Ocean Downs Casinos spiked 21% to $6.4m and Rocky Gap rose 3.9% to $4.9m.

Live! Casino & Hotel is furiously prepping the launch of a new 17-floor, 200-room hotel, dubbed (oddly enough) Live Hotel, which will open on Wednesday, the casino’s sixth anniversary. Cordish expects the new hotel, the tallest in the county, will help it more effectively compete with National Harbor and the Horseshoe.