CASINO

Maryland casinos have fourth-best revenue month in September

TAGs: Maryland

maryland-casinos-september-gaming-revenueMaryland casinos had their fourth-best gaming revenue month in September, despite two casinos reporting year-on-year declines.

Figures released this week by the Maryland Lottery and Gaming agency show the state’s six licensed casino operators generated combined gaming revenue of $143.8m in September, a 6.9% improvement on the same month last year. That said, the result was $2.5m below August 2018’s result, so thanks for nothing, autumn.

As ever, MGM Resorts’ National Harbor venue ruled September’s roost with gaming revenue of $54.4m, up 10.3% year-on-year (but nearly $4m less than August 2018). Cordish Gaming’s Live! Casino & Hotel maintained its perennial runner-up position but its $50.3m result was up 7.1% year-on-year and over $3m higher than in August.

Horseshoe Casino Baltimore was one of September’s two decliners, as its $20.6m result was down 1.6% year-on-year. The property, a joint venture of Caesars Entertainment and JACK Entertainment, is rumored to be on the market, as part of JACK owner Dan Gilbert’s reported desire to sell his gaming holdings.

As for the bottom half of September’s revenue chart, Ocean Downs Casino saw its revenue shoot up nearly 14% to $7.5m, Hollywood Casino Perryville came in a little under $6.3m (+5.8%), while Rocky Gap was down 1.3% to $4.6m.

Ocean Downs’ double-digit September gains came largely thanks to the $769k brought in by the addition of its first table games last December. For the year-to-date, the property’s 18 table games have added nearly $5.9m to Ocean Downs’ annual tally.

Meanwhile, the National Harbor baccarat dealer who was recently charged for his involvement in a cheating conspiracy that took the casino for over $1m was convicted last month. Ming Zhang faces up to five years in prison after pleading guilty to conspiring to transport stolen funds when he next appears in federal court on January 31, 2019.

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