MGM National Harbor Overtakes Maryland Live Casino In GGR

Proposed MGM National Harbor MarylandIn terms of casino revenues, MGM National Harbor has taken the number one position in the state of Maryland.

It is a newly opened casino from the company MGM Resorts and it is surprising to note that within a very small span of time, it has completely dethroned Maryland Live which is the most popular casino in the state of Maryland and is also the leader in terms of GGR or Gross Gaming Revenue.

Maryland Lottery and Gaming in its latest report has made revelations that National Harbor has generated whopping revenue of $48.8 million as compared to Maryland Live’s $44 million in the first full calendar month of operation.

Overall, revenue worth $126.2 million has been generated from all the six casinos in the state of Maryland in the month of January 2017. The figure is 43% more than the figure during the same period last year.

However, if we exclude all the revenue of the casino MGM National Harbor, it would cause a huge drop of 11 million in the entire industry figure which means a decline of 12.4 percent on a year to year basis. Both slots and table games have contributed on an equal basis to the revenue of MGM National Harbor. The casino resort of MGM is a newly opened one and it began its operation on 8th of December 2016 with 3237 slot machines and 165 table games.

CBS Baltimore

There is a decline of 15.5 percent in the revenue of Maryland Live as compared to last year and there has been a drop of 20 percent in the table games. However other casinos had mixed fortunes. Horseshoe Casino Baltimore of Casino Entertainment generated a revenue of $20.2 million in the month of January with a 15% drop in revenue as compared to last year.

The revenue of slots remained flat at $12.3 million while there was a 30% decline in the revenue of table games as it generated a figure of just $7.9 million. However, it is interesting to note that despite the opening of MGM National Harbor in December, the revenue of Horseshoe Casino Baltimore increased by 9.1 percent.

There was a loss of 1.2% in the revenue of Ocean Downs Casino with a total figure of 3.7 million while the revenues of Hollywood Casino Perryville registered an increase of 4.6% revenue to a figure of $5.8 million. Another casino named Rocky Gap registered revenue of $3.7 million with a growth of 11.8 percent. The main reason for the increase in revenue of National Harbor is because of the celebration of Chinese New Year on 28th of January 2017.

Among other festivities, the casino had hosted a performance from Band of Brothers which is a very popular Chinese Pop Group.

Casino Officials that belong to Horseshoe and Maryland Live are of the opinion that they were expecting a drop in the revenues for few months in future when the interests in MGM National Harbor casino would be high before levelling.

Erin Chamberlin who is the General Manager of Horseshoe Casino has made the following statement:

Folks generally come and try out the new product, we expected that. The hope of all the operations is that we’re increasing the number of gamers in the market, not just spreading around the same amount of gamers. We’re hoping that will be the long-term case and we’ll see growth in Maryland.

Jay Stevens

Jay Stevens

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