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New March Revenue Records for Maryland Casinos

Maryland

According to the Maryland Lottery & Gaming regulatory agency, six casino operators can boast of a new gaming revenue record in the state for the month of March. Straggling Horseshoe Casino Baltimore is part of the pack.

The figures reveal upwards of $163.3 million in March. This is a 8.8% rise over 2018 at the same time. It is also a 3.4% improvement of last October’s high watermark of $158 million.

Kudos Go to the Slots

Credit goes to the popular slots that brought in $105.3 million collectively in March. Compare this to the take of under $58 million for gaming tables. According to Maryland Lottery & Gaming Director, Gordon Medenica,

“March’s record result was even more impressive given the intense competition and expanding gaming options in surrounding states.”

He explains that the state can always take advantage of other territories but so far legislators are saying “no” to on line sports betting. Nevertheless, the revenue gains in March bode well for the six local casinos. MGM Resorts’ National Harbor isn’t the top of the heap with its $62.8 million, a 3.9% increase over last October (at $73.4 million).

The big winner for the greatest increase is Cordish Gaming’s Live Casino & Hotel with a 19% year-on-year upward trend. Revenues for the lagging Horseshoe are up 3% at $26.6 million.

There are smaller operators in Maryland that posted profits. On the low end is Hollywood Casino Perryville with $7.15 million in revenue, a modest 0.5% gain over last year. A better picture exists for Ocean Downs Casino shooting up 12.4% to $6.6 million and Rocky Gap Casino Resort rising to $5.16 million, up 9.2%.

Source: https://calvinayre.com/2019/04/09/casino/maryland-casinos-surge-to-new-revenue-record-in-march/

About the author

Carol Kay

Carol Kay

Carol Kay is an American editor and writer living in California with a background in business and finance, health and fitness and popular culture. She is the author of numerous books and articles on a variety of subjects. She is dedicated to disseminating information of public import on the internet.

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