MGM National Harbor tops state casinos again as Horseshoe revenue declines

Approaching its first anniversary, MGM National Harbor generated more than $50 million in revenue in October, while revenue at Horseshoe Casino Baltimore dipped again from a year earlier.

Topping $50 million in monthly revenue for the sixth time since opening last December, MGM National Harbor’s $51.9 million was again more than any of the state’s other five casinos, according to figures released Monday by the Maryland Lottery and Gaming Control Agency.

Overall, the casinos generated $133.2 million — an increase of $37.7 million, or 39.5 percent, over the same month last year, before MGM opened in Prince George's County.

But revenue at Horseshoe, the casino beside Interstate 95 and near M&T Bank Stadium in Baltimore, declined 26.5 percent from a year earlier, to $19.5 million. That followed declines of 21.3 percent in August and 22.1 percent in September.

The state had anticipated MGM’s opening would grow the casino market while pulling revenues away from Horseshoe and Live Casino & Hotel in Hanover.

At the other five casinos, revenue slid 14.9 percent compared to October 2016.

The monthly revenue declines at Live Casino at Arundel Mills have been less than Horseshoe’s. The locally owned casino, formerly called Maryland Live, reported $45.8 million in revenue in October, down 13.9 percent.

October revenues were mixed year-over-year at the state’s other three casinos.

Revenues were up 7.2 percent to $5.2 million at slots-only Ocean Downs but decreased 1.6 percent to $4.6 million at Rocky Gap Casino Resort in Western Maryland. Hollywood Casino Perryville saw revenue slip 0.7 percent to $5.9 million.

jebarker@baltsun.com

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