Maryland can be thought of as one of the more progressive states when it comes to real money gambling at brick-and-mortar real money casinos and real money casino apps. Spread across the Free State from its western borders to the Eastern Shore, casino revenue continues to build with some positive growth for all six real money gambling locations.
Above all, revenue figures for the month May were positive at the smallest gambling venues all the way up to MGM National Harbor as the top gambling site in the state. The Oxon Hill casino on the Potomac, as a suburb of Washington DC, opened in December of 2016 and it immediately rose to the top of the list at the expense of some of the other Maryland casinos already in business.
How Are Maryland Casinos Prospering from Top to Bottom?
According to this report, Maryland’s take in the month of May in total profits was $156.6 million. This figure represents an impressive 14.7 percent increase from the same month last year. This was the best month ever for Maryland casinos after topping the $150 million mark just two months ago. May was also the first time that all six casinos in the state were in the black since the opening of the
MGM National Harbor location.
This is a significant accomplishment when you consider how much revenue the $1.4 billion-dollar MGM casino and resort pulled from some nearby Maryland casinos such as Maryland Live! and The Horseshoe Casino Baltimore. Six months after the National Harbor location had opened Maryland Live! saw its profits decline by 22.5 percent to $46.8 million in July of last year according to Casino.org. The Horseshoe Casino Baltimore’s decline reached eight percent to $22.9 million during this same time span. The losses were not limited to the state’s top two casinos at that time.
Hollywood Casino Perryville lost 2.4 percent of its revenue and the Casino at Ocean Downs lost 1.4 percent of its revenue. While all of these losses were piling up, MGM National Harbor had grown its revenues past the $50 million mark in five of its first six months in business. Things began to stabilize earlier this year as all the casinos in the state began to change their fortunes and profit picture from red to black. May’s results point to a very positive future for Maryland’s casino business as a whole.
Will Maryland Casinos Continue To Prosper?
As published in this report via the Maryland Lottery and Gaming Agency, MGM National Harbor’s revenue of $62.3 million in the month of May topped the list. This reflects a growth rate of 23.2 percent over the previous month. Maryland Live! Casino and Hotel weighed in with $52 million in revenue for a gain of 13.4 percent. This rate of growth could go higher with this month’s opening of a $200 million hotel tower. The 17-floor addition features 310 rooms to match MGM’s accommodations at National Harbor.
Some of the other revenue figures released in this report show a gain of two percent for The Horseshoe Casino Baltimore to $24.1 million. Ocean Downs Casino was up a whopping 21 percent to $6.4 million. This growth has been accelerated by the addition of table games in the second half of 2017.