Maryland casinos set revenue record in March

Maryland’s six casinos combined to set a monthly revenue record in March, topping $150 million for the first time, according to the state’s gaming regulatory agency.

The casinos were led by MGM National Harbor, which generated $60.4 million from slots and table games — its most ever in a month, the Lottery and Gaming Control Agency said.

MGM’s revenue was 17.9 percent higher than the same month a year earlier.

Live Casino & Hotel in Anne Arundel was second with $47 million during the month, up about 1 percent over March 2017. While Horseshoe Casino Baltimore generated $24.8 million, down 7.8 percent.

The state’s casinos set the previous revenue record of $141.1 million in March 2017 — three months after MGM National Harbor opened.

The Prince George’s County casino has tapped into the tourist market in the national capital area and drawn from Virginia and Washington, which don’t have their own casinos. Analysts say a strong economy also has benefited the casinos’ bottom line

“We are incredibly proud of the performance of Maryland’s casino industry,” Maryland Lottery and Gaming Director Gordon Medenica said in a written statement Thursday. He said the casinos employ more than 7,000 people.

Revenues were up 26.2 percent to $5.8 million in March at Ocean Downs, a casino in Berlin, outside Ocean City, that had been slots-only until adding table games in December. Hollywood Casino Perryville saw revenue increase 2.4 percent to $7.1 million.

Rocky Gap Casino Resort generated $4.7 million, a 0.5 percent increase.

Casino and lottery proceeds go to a number of causes, including the Maryland Education Trust Fund. The horse-racing industry, local government programs and small minority-owned and women-owned businesses are among those also receiving shares.

jebarker@baltsun.com

twitter.com/sunjeffbarker

Copyright © 2018, The Baltimore Sun, a Baltimore Sun Media Group publication | Place an Ad
64°