The casinos in Maryland have seen a modest rise in revenue in the month of November. However, this improvement didn’t come overnight, the industry has been seeing continuous but small improvements. Likewise and as is the nature of casino businesses, some companies have had their own share of struggle and have reported a decrease in earnings.
The figures that were released by the Maryland lottery and gaming show state that the revenue was raised to up to $140.8M of income in the month of November. When compared to the same month last year, the income has increased at a 0.5 percentage, while if compared to October 2019, the revenue has gone down by $3M.
The MGM resorts is a venue that has dominated the market since its opening in 2016. However, the venue’s revenue has dropped by 5.9%, which is year after year to $53.9M down to around $6M in October.
This was only about $1M, which is higher than the total, which was generated by Cordish Gamings. This casino had a very firm grip on the state’s casino affairs until it was rudely laid down by the national harbor. The revenue for the Cordish property raised up to 8.7% year after year and about $5.3M, which happens to be higher than in the previous month.
The Caesars Entertainment casino has dramatically suffered under the reign of a national harbor casino. The Caesars Entertainment only generated under $18.4M in the month of November, which is down to 5.7% year after year and only a$100k, which is better than the property’s record showing this month of August.
As for Penn Hollywood Casino Perryville, it led the way with a whopping $5.8M, which is +6.3 percent and just ahead of Churchill downs that were up with $5.4M, which is approximately +3.7 percent and rocky trailed behind with a $4.4M which is +11.1 percent.
The shoe, on the other hand, has unveiled a new and expanded gaming space this week. It is a 10k square foot raised patio where the playing patrons will kill themselves with nicotine and gamble at the same time. Previously the shoe only offered some terraces for smoking only but failed to unveil its plans that it will expand the space to cater to 16 live gaming tables.
December might not be ideal to launch a new outdoor attraction all because of the weather. Like for instance, on Thursday, the highs were expected to be at 7 degrees Celcius. However, the terrace features large over the head features that are meant to keep people warm just in case the heat of the cigar cherries fails in preventing frostbite.
On the other hand, the Cordish property had its launching in 2018, which unveiled a smoking patio that features live and electronic tables along with other new 150 slots. With the shoe new outdoor options, they launch only time will tell if, with the new feature, they will be able to gain back their market for their fierce rivals.
Source: https://calvinayre.com/2019/12/05/casino/mgm-national-harbor-maryland-casino-crown-slipping/
