CASINO

Maryland casinos have fourth-best revenue month in May

TAGs: Maryland

maryland-horseshoe-casino-baltimore-revenueMaryland casinos reported a year-on-year gaming revenue decline in May, but the take was still high enough to make it the state’s fourth-best month on record.

Figures released Wednesday by the Maryland Lottery and Gaming Control Agency show the state’s six licensed casino operators generated combined gaming revenue of $152.3m in May, around 2.7% below what the casinos reported in the same month last year, but $7.1m better than April 2019’s result.

The year-on-year decline looks even more paltry considering May 2019’s result was the fourth-best on record, behind only May 2018’s $156.5m, October 2018’s $158m and the all-time high of $163.3m set this March.

The state’s slot machines did their bit to keep the numbers up, as statewide slots revenue improved 4.2% to $100.7m. However, table games generated $51.6m last month, a hefty 14% decline from May 2018’s $60m.

MGM Resorts’ National Harbor venue refused to budge from its traditional place atop the individual property rankings, although its May revenue was down 5.1% to $59.1m – the first year-on-year decline the property has suffered since opening in December 2016. National Harbor was responsible for most of the month’s overall table decline, as its table take was down $6m to $24.8m.

Perennial runner-up Live! Casino & Hotel had a much stronger showing, rising 2.8% year-on-year to $53.5m. The Cordish Gaming property’s tables were up around $350k to just under $16.5m while slots gained $1.1m to $37m.

Once again, Caesars Entertainment’s Horseshoe Casino Baltimore took it on the chin, with overall revenue falling 14.6% to just under $20.6m. The Shoe’s table tally was down $3m to around $8.1m while its slots were down around half-a-million to $12.5m. The Shoe’s new gaming and smoking patio, which hopes to be complete by November, can’t come soon enough.

The state’s minnows were all in the black in May, with Ocean Downs gaining 12.5% to $7.2m, Hollywood Casino Perryville up 1.9% to $6.9m and Rocky Gap nudging up 0.2% to $4.9m.

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