The Maryland Casino of MGM Resorts reaffirmed its supremacy in the last month of 2019. However, it was a different case for Caesars Entertainment as their local venue did not show signs of halting its downward trajectory.
According to Calvin Ayre, on Monday, some figures were released by the Maryland Lottery & Gaming Agency. It showed that the six casinos in the state generated total gaming revenue of $149.1 million last month. This is an increase of 1 percent when compared to the figure of the same month in 2018, but it was an estimated $8.3 million higher than what was earned in November 2019.
The National Harbor casino of MGM was very close to surrendering its customary market leading position in November. Luckily for the company, it re-established its supremacy with a total gaming revenue of $62.6 million in December. This is an increase of 4.5 percent from December 2018 and $8.7 million which is higher than what was earned in November 2019.
Cordish Gaming’s Live! Casino & Hotel, was so close – about $1 million – to overthrowing National Harbor in November last year.
Unfortunately, the company could not keep pace with its arch rival in December. Cordish Gaming’s Live! Casino & Hotel earned an estimated $51.8 million in December, a 3.4 percent year-on-year increase but only about $1 million higher than what was earned in November.
After the unveiling of National Harbor’s December in 2016, Caesars’ Horseshoe Casino Baltimore has been finding it hard to keep pace. Their struggles continued in December as they posted dismal figures. The revenue for the Shoe’s dropped by 15.7 percent year-on-year to an estimated $18.7 million. They were close to the company’s all-time low of $18.3 million, which was posted in August last year.
The 3 smaller operators in the state had a month of mixed fortunes. Hollywood Casino Perryville had a decrease of 3.5 percent year-on-year to $6.06 million, while Oceans Downs Casino increased by 3.7 percent to $5.64 million and Rocky Gap Casino Resort fell by 4.5 percent to $4.23 million.
For the entire year, the casinos in the state generated a cumulative revenue of $1.757 billion. This was an increase of 1 percent from the total of $1.746 billion in 2018. The results of National Harbor in 2019 increased by a meager 1% to $707 million. Live! disclosed an increase in revenue of 4.4 percent of $601 million, while the Shoe suffered a revenue decline of 8.5 percent to $237.9 million.
No casino in Maryland will decline an additional source of revenue. This may likely be the case as the legislators in the state are about to approve a new bill sponsored by Senator Chris West. The only problem now is that the bill will have to pass through a referendum by voters this November before steps will be taken to implement it. This implies that a boost in the betting industry may not happen until 2021.
