According to information released by the Maryland Lottery and Gaming Agency, May was the second consecutive month when Maryland casinos reported a record revenue growth. The combined revenue amounted to $104.4 million, which is 8.3% more than what was reported a year ago. The revenue from slots was estimated at $66.9 million, up 5.6% YOY. As for table games’ revenue, it registered a more significant jump of 14.3% to reach $37.4 million.
Back in April, the reported revenue was $103.9 million and this was the first month when the combined revenue went over $100 million. The upward trend was attributed to the effective marketing strategies and the beneficial economic conditions in the state.
Casino analysts said the Mid-Atlantic players were not willing to travel long destinations. They preferred playing at a casino as close to their homes as possible and added that people might go to Las Vegas for a variety of reasons, but when it comes to ultimate gambling experience East Coast was a top destination.
Gordon Medenica, Director of the Maryland Lottery and Gaming Agency, released a statement on the casinos’ performance and congratulated them on the great achievement.
Horseshoe Casino Baltimore reported the most significant jump in revenue of 31.3% YOY. The revenue for May was estimated at $28.8 million, which is slightly lower than April’s earnings, which totalled $30.2 million.
Hollywood Casino Perryville was the only Maryland-based casino that reported a year-over-year revenue decline. Last month, the generated income was $6.9 million, which is 3.1% lower than the revenue in May 2015.
The largest casino in Maryland, Maryland Live! Casino generated a revenue of $59 million, which is a slight increase as compared to the numbers reported in May 2015.
Last month’s revenue of Casino at Oceans Down was $5.2 million, 3.2% more than the revenue generated in May 2015.
An increase of 4.1% YOY was reported by Rocky Gap Casino Resort as the revenue for May was $4.4 million.
Meanwhile, the sixth Maryland casino is under construction. The MGM National Harbor Resort is to be located in Prince George’s County and it is slated to open by the end of the year. Maryland Live! visitors will be able to enjoy new facilities such as a hotel and conference center.
The first casino on the territory of the state was opened 6 years ago and it managed to lure locals and out of state players with a combination of table games and slots.
Alan Woinski, Gaming USA Corp. President commented on the current market trends and said that along with Maryland, Ohio and Pennsylvania were also doing well.
