While the recent weekend snowstorm has slowed revenue gains, in January, Maryland’s casinos reported another month of increases, according to a press release by the Maryland Lottery and Gaming Control Agency on Friday.

Revenue from the state’s five casinos including, Hollywood Casino Perryville in Cecil County, Horseshoe Casino Baltimore in Baltimore City, Casino at Ocean Downs in Worcester County, Maryland Live! Casino in Anne Arundel County, and Rocky Gap Casino Resort in Allegany County, totaled $88.3 million. The numbers represent an increase of 4 percent over the same time last year. Some of the best numbers ever were reported for the month of December, with overall revenues up 11 percent to $95.1 million. Accounting for seasonal fluctuations, according to analysts year-on-year comparisons, shed the most light on overall performance. July’s numbers, $98.9 million, set the monthly record.

While January’s numbers showed a modest gain, casinos were challenged by the major snowstorm that blew through the state on Friday, January 22 and didn’t let up over the weekend, which is prime time for the casinos. Despite normally being open 24/7, the Horseshoe Casino Baltimore closed its doors at 9 p.m. on Friday and remained closed until noon on Sunday. The casino was up 2.1 percent for the month, with a monthly earning of $23.6 million. Maryland Live, Maryland’s largest casino, outperformed the state’s other four facility’s at $52.1 million, and increase of 5.5 percent over the same time last year. Adjacent to Arundel Mills Mall, the casino reduced its staff to critical-employees only and stayed open during the storm. The casino in Hanover operates 3,974 slot machines and 206 table games.

Results from the other casinos were mixed. Of the five, Hollywood Casino Perryville in Cecil County generated $5.5 million for January and was the only casino to report a decrease in revenue – by $489,577, or 8.2%, from January 2015; Horseshoe Casino Baltimore generated $23.6 million, an increase of $494,231, or 2.1%; the slots-only Casino at Ocean Downs in Worcester County generated $3.7 million, an increase of $342,097, or 10.1%; and Rocky Gap Casino Resort generated $3.3 million, an increase of $354,813, or 11.9%, from the same time last year.

Meanwhile, the state’s five casinos will have more competition this year as MGM National Harbor, a subsidiary of MGM Resorts International (NYSE: MGM), in Prince George’s County was awarded the license to operate the sixth casino in the state and slated to open later in the year. A recent filing confirmed that MGM National Harbor LLC had secured $525 million funding for the project located near the Potomacc River.

Leave a Reply

Your email address will not be published.