Casinos in the state of Maryland are on a roll. For the eighth consecutive month, casino revenues have seen gains, topping $100 million yet again. The month of July saw revenues topping the $100 million mark for the third time since the first state casino opened back in 2010. The five casinos of the state were able to earn $103.8 million thanks to gaming, which is a 5% increase from July of 2015.
The Maryland Lottery and Gaming Control Agency released the figures for July 2016 today with the state earning just under the $104.4 million set in May, which is the record high for Maryland. The last time the state saw a decrease in revenues was in November of 2015 and the drop then was only one-half of one percent.
The upward trend in gambling earnings for the state is being attributed to favorable economic conditions according to analysts. Reportedly the economy plus effective marketing are causing the casinos in the state to see record numbers. The first casino to come to Maryland was the Hollywood Casino Perryville in 2010, with the fifth casino, the Horseshoe Casino Baltimore opening in 2014. For last month, the Horseshoe was able to generate just over $24 million from table games and slot machines combined. This was a 2.5% increase for the venue.
Gaming expansion continues in the state with the sixth casino, MGM National Harbor, set to open by year’s end. Maryland Live! is also making additions, with a conference center and hotel to be added to the property. For July, Maryland Live! was able to earn just over $60 million which was the second highest ever totals for the venue.
Ocean Downs also saw an increase in revenues of 2.5%, earning $6.5 million while Rocky Gap Casino Resort was up 17%, earning $5 million for the month. The Hollywood Casino Perryville saw a slight decrease of 1.9%, earning $6.7 million for the month.