Maryland’s Casino Revenue for 2018 Increased by 8%

It can be said that 2018 was a successful year for Maryland as six of its casinos finished the year with a modest gaming revenue gain. However, Horseshoe Casino Baltimore’s decline is concerning…

…and there aren’t any signs of recovery.

The figures were released on Monday by the Maryland Lottery and Gaming Agency and they clearly show the casino gaming revenue that reached $148.4 million in December.

This is a 5.2% release compared to the same month in the previous year. Furthermore, the numbers are up from November 2018 with $8.4 million more in the bank.

Revenue in Numbers

The total gaming revenue in Maryland in 2018 is $1.746 billion! A modest rise has been recorded compared to 2017 when the revenue numbers reached $1.614 billion. A majority of the figure can be assigned to slots that grossed just under $1.1 billion in 2018 and under $1.0 billion in 2017.

Table games account for the rest but a year-on-year growth has been recorded – up by 6.3 percent.

Leading Facilities

The most profitable casino in the state is MGM Resorts’ National Harbor that became open to the public in Maryland in December 2016. This is the first year in which true comparisons can be made on a yearly basis.

National Harbor had a satisfactory December during which they saw a rise of nearly 6% to $59.9 million. When it comes to the annual revenue, it is up by 15.8% to $705 million. It is closely followed by Cordish Gaming’s Live! Casino & Hotel which also witnessed a 6% jump to almost $50.1 million. When it comes to the annual numbers, a 5.5% increase has been recorded with the total figure reaching $575.3 million.

Other Casinos

Horseshoes Casino Baltimore had a difficult year…

…and the numbers were down by 7.2% to $22.2 million in December. In case you believe this is a bad result for the casino, you should know that its November’s revenue plummeted by 14.2%.

Not everything looks that bad though and Caesars Entertainment has a chance to make things right in 2019 again. The annual revenue of the Shoe in 2018 was $260m, which is a 4.2% drop compared to 2017.

In the meantime, Hollywood Casino Perryville managed to make $6.3 million in December, which means that figures have gone up by 9.2 percent. The increase was not so drastic on the yearly level, but in 2018, this casino managed to earn $75.6 million.

There’s more

Rocky Gap is the next one we need to mention with a massive $17% boost in December to $4.4 million. Although this was a successful month…

…the casino’s annual revenue improved by less than $1 million to $54.7 million.

Last but now least, Ocean Downs had a record-braking 45.2% rise in December to $5.4 million. However, we should point out that Ocean Downs has just got the new tables and therefore attracted more players than usual.

Source:

“Maryland’s 2018 casino revenue rises 8% to just under $1.75b”, Peter Amsel, calvinayre.com, January 8, 2019.

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