On the strength of a recently opened luxury casino resort in December, the six-venue brick and mortar casino industry in Maryland shattered its previous monthly revenue record.
Overall, the state’s six casinos generated $133,477,706 million in gaming revenue during the month of December – nearly 28 percent higher than the previous record of $104,351,219, set back in May of 2016.
At that point in time, Maryland was home to five land-based casinos, but the highly anticipated opening of MGM National Harbor on December 8 provided an instant infusion of interest throughout the entire state. With only 23 calendar days to work with, the glittering new resort casino complex managed to collect $41,934,028 from its slot machine and table game offerings.
In a press release issued by the Maryland Lottery and Gaming Control Agency, Director Gordon Medenica revealed that the state saw December’s drastic revenue increase in the cards:
“We anticipated that December would be a record-breaking month, and we are tremendously enthusiastic about the future of Maryland’s casino program.
MGM National Harbor is an outstanding facility in an ideal location, and we are confident that its success will fuel the continued growth of revenue that supports vital state programs.”
Located in Prince George’s County, the MGM National Harbor is situated on 23 acres along the Potomac River. The $1.4 billion project includes a 24-story hotel tower, 125,000 square feet of gaming floor space, and more than 3,200 slot machines. Along with a 39-table poker room and hundreds of table games, MGM National Harbor has been billed as the most faithful recreation of Las Vegas-style megaresort casinos in the region.
As revealed by Maryland Lottery and Gaming’s report, the newly opened venue generated gross daily gaming revenue per unit of $313.59 on slot machines, $5,343.76 on banked table games (blackjack, baccarat, etc.), and $1,508.57 on non-banked table games (primarily poker).
But even as MGM National Harbor drew media attention on the regional and national level, drawing massive crowds for the grand opening festivities, three of Maryland’s five other casino properties also contributed to December’s record-breaking revenue haul.
The report highlighted the Horseshoe Casino Baltimore, the Casino at Ocean Downs, and the Rocky Gap Casino Resort as outperforming their revenue marks from December of 2015. On the other hand, Hollywood Casino Perryville and Maryland Live Casino experienced revenue declines month-on-month.
As mentioned by Medenica in his press release, the state stands to benefit when all six Maryland casino properties are performing above expectation:
“Given the intense spotlight on the opening of MGM National Harbor, the December numbers for Maryland’s other casinos are in line with our expectations, and we’re pleased to see the increases at Ocean Downs, Rocky Gap and especially Horseshoe.
I am confident that as our casino program continues to evolve, each of the six casinos will establish its unique presence in the marketplace.”
Under state law, all brick and mortar casino facilities in Maryland are obligated to contribute portions of their monthly revenue to the state’s Education Trust Fund. In December, the MGM National Harbor made its first contribution, for $12,624,344, to the fund.
However, per reporting by the Baltimore Sun, despite raking in $1.7 billion from casino revenue since the industry was created in 2008, Maryland’s Education Trust Fund hasn’t issued any additional distributions over the required funding amount.