Casinos in Maryland Can Be Satisfied with Their Results in June
The combined result for six casinos operating in the state didn’t succeed in posting another record during the thirty-day period ending on June 30, 2018, but all six of them recorded better results when compared to the corresponding period of last year.
A Good Month for Casinos
According to available information, Maryland casinos took home $148.9 million during June, which represents an increase of $14.1% when compared to the same month of 2017. However, this result is nearly 5% lower than the record one reported in May, which stood at $156.5 million.
Slot machine revenue recorded a 16% increase on a yearly basis, ending the month with a total $93.7 million. Table games revenue jumped to $55.2 million, which represents a year-on-year improvement of 11%. It should be noted that revenue generated by slot machines during June was $1.7 million higher than the entire casino market revenue from November of 2016 – the last month before the new National Harbor, a venue owned by MGM Resorts, opened for business.
The state’s top casino earner in June – again – was National Harbor, which ended the month with revenue of $59.3 million, 18.3% more than in the same month of last year. The runner-up was the former number one venue, Live! Casino & Hotel’s, whose $48.2 million wasn’t enough to beat National Harbor, although the result was 15.1% better than in 2017. Caesars Entertainment’s Horseshoe Casino Baltimore can be pleased with the figures, since it recorded year-on-year rise for the second month in a row (3.3%), earning $22.8 million.
The remaining three venues also recorded rise in revenue: Ocean Downs was up by 29.8% to $7.3 million, thanks to its new table games on offer. Hollywood Casino Perryville earned $6.6 million – 4.5% more than in June 2017, while Rocky Gap’s revenue climbed by 5.2% to $4.75 million.
What about Sports Betting?
The repeal of PASPA act back in May allowed the states, including Maryland, to independently decide whether to offer sports betting to their residents or not.
Operators doing business in Maryland would certainly like to add sports betting to their offer, but it looks like that won’t happen anytime soon.
The lawmakers had the chance to approve sports betting this spring, but nothing happened. That’s why David Cordish, whose company is the owner of the Live! casino believes legal wagering won’t get the needed support in the coming future.
He stated his casino would gladly add wagering to its offer, but he pointed out this would take time.
One of the main reasons why Maryland hasn’t decided to follow the example of Delaware, New Jersey, and Rhode Island, which have already legalised sports betting, is the fact that state’s casinos and racetracks can’t agree who will be allowed to offer wagering.
In the meantime, Cordish has begun converting the existing 500-seat concert venue at Live! casino into a sports bar and lounge, called Sports & Social
Cordish said sports betting could certainly fit in the sports lounge if the state decides to give it the green light.