MGM helps Maryland casino revenue reach record heights
Maryland’s casinos have set yet another revenue record in March with the market growing around 20% year-on-year. Maryland Lottery and Gaming announced earlier this week that the state’s six casinos raked in a record $141.2m in gaming revenue during March.
The new record tops the previous high of $133.5m set in December when MGM National Harbor debuted. The four-month old casino reclaimed the state’s top revenue-producing spot during a record-breaking March for Maryland’s six casinos.
Excluding MGM, state wide casino revenue dropped by 8.1% to $7.9m. However, taking into account MGM, the March total marks a 44.3% increase over the same month a year prior, when the five casinos raked in $97.9m.
MGM National Harbor operates over 3,100 slots and 165 table games, generating $51.2m from both in March alone.
“The market is going to grow,” MGM National Harbor Poker Room Manager Johnny Grooms told Card Player. “We felt that there was an under-served population in Southern D.C and Northern Virginia, and in the more expansive area down to North Carolina. Our competitors to the North have done a good job, but traffic patterns here dictate where and when people go do things.”
The former state top revenue generator, Maryland Live only made $46.6m in gaming revenue during March. In addition, Baltimore’s Horseshoe Casino accounted for $27m to the total March gambling revenue for the state.
Hollywood Casino Perryville, Rocky Gap Casino Resort and Casino at Ocean Downs accounted for approximately $7m, $4.7m and $4.67m respectively.
Furthermore, according to figures released by state gaming regulators, Maryland poker rooms raked in a total of $3.88m in March. The figures for 2017 are only marginally better than the year prior, with 2016 taking $3.24m in the same month.
Under Maryland law, casino revenue supports the Maryland Education Trust Fund as well as a few other smaller businesses. According to new figures, the six casinos contributed approximately $34m to the fund.
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