MGM National Harbor's monthly revenue tops $50 million to lead state casinos

Seven-month-old MGM National Harbor topped $50 million in monthly revenue for the third time in June to remain Maryland's highest-generating casino as Live Casino & Hotel and Horseshoe Casino Baltimore saw declines.

MGM, Maryland’s newest casino, reported $50.1 million in revenue last month from slot machines and table games. After opening in December, it topped $50 million for the first time in March and did it again in May and June.

MGM has been simultaneously growing the state’s gambling market while taking away some share of its Maryland competitors’ business. Analysts say the $1.4 billion property — directly across the Potomac River from Virginia — holds an advantage during the summer tourist season because of its proximity to Washington's popular destinations.

Overall, the state’s casinos accumulated $130.4 million in revenue during June, an increase of 39.8 percent compared to the same month a year earlier — when there were five casinos instead of the current six.

In a year-to-year comparison not including MGM, the other casinos’ revenue fell $13 million, or 13.9 percent.

Live, the casino at Arundel Mills in Hanover formerly called Maryland Live, had June revenue of $41.8 million, which was 22.1 percent less than it drew in June 2016.

Revenue at Horseshoe, the casino on Russell Street in Baltimore beside Interstate 95 and near M&T Bank Stadium, declined 9.6 percent to $22 million.

June revenue rose 9.5 percent year-over-year to $5.5 million at slots-only Ocean Downs and increased 8.6 percent to $4.5 million at Rocky Gap Casino Resort in Western Maryland. Hollywood Casino Perryville saw revenue increase 5.8 percent to $6.3 million.

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