A report about the financial performance of Maryland-based casinos during the previous month was released mere hours ago. According to the numbers posted, the revenue generated by the five casinos on the territory of the state totaled $91 million.
Yet, statistics is not too optimistic given the fact that four of the casino venues reported a decrease in revenues for March.
Regardless of the fact that four properties posted a decline, March was a relatively more profitable month than February when severe weather conditions turned out to be a major setback for the satisfactory financial performance of Maryland casinos. As compared to the February results, an increase of almost 10% was posted in March.
According to the numbers released by the Maryland Lottery and Gaming Control Agency, the annual revenue generated by the five casinos increased by $13.2 million year-over-year. In other words, the growth was equal to 16.9%.
As already mentioned, one out of five casinos reported an increase. The latest gaming venue, which has been accepting players for less than one year was the one to post revenue growth, while the others announced a decline of $11.5 million or 14.8% as compared to the results posted a year ago.
As for the Horseshoe Casino, it cannot reach the target revenue, which was projected to be no less than $31 million. Yet, the fact that it posted record revenue in March should not be underestimated. The profit reported for the previous month was $24.7 million, which has been the best accomplishment of the venue so far.
Market analysts attribute the rapid increase to the World Series of Poker’s circuit tour. The event was held at the Horseshoe property and a great number of players took part in it.
Maryland Live! – the casino, said to be emblematic for the state reported a decrease in revenue equal to 15.4%. Last month, the revenue generated amounted to $51.9%, while a year ago, it was $61.8 million.
Last month’s performance of Hollywood Casino Perryville was not satisfactory as well. The casino generated the amount of $6.5 million, which means that a decline of 17.7% has been registered. Back in 2014, Hollywood Casino Perryville reported an income totaling $7.9 million.
As far as the financial results of the Rocky Gap Casino Resort and the Casino at Ocean Downs are concerned, both reported a decline of 3.2% and 3.3%, respectively. The amount of $4 million was generated by the latter. Rocky Gap Casino Resort managed to generate $3.9 million in March.
