Hollywood Casino suffers after MGM opening
Whilst year-on-year revenue seems to be up in June, the Maryland casino has been experiencing a series of bad results.
US.- Ever since MGM Resorts opened its MGM National Harbor casino resort in December 2016, the casino has had a major revenue rise while cannibalising the Maryland casino market. Hollywood Casino Perryville is one of the facilities that can’t escape the bad results.
With only six months of being open, MGM National Harbor has made the Perryville casino experience a 3.7 percent decrease in revenues, a US$1.5 million less than the figures that the gambling facility registered in 2016. Whilst during the six months from December 2016 to May 2016 the casino generated US$39.3 in revenue, almost US$6.5 million every month, December 2016 to May 2017 numbers reveal US$37.8 million, an average of US$6.3 million per month, almost US$200.000 less.
Matt Heiskel, general manager of the Hollywood Casino Perryville, said: “It was difficult to predict because of the distance. The decline is kind of in the vein of what we had anticipated. You have to remember that all of these casinos have been prepared. We’ve been well aware that eventually this is where we’re going to settle in.” Moreover, he said that the casino expects to be up this June, as new amenities have attracted new costumers. “We’re always pushing things to get people in the doors,” he added.
According to a report by onlinepoker.net, the casinos closest to the MGM facility have been the most affected, with the Horseshoe Casino in Baltimore reporting a 9.4 percent drop in its revenue and the Maryland Live in Anne Arundel County with an even bigger dip of 16.6 percent since the US$1.4 billion complex opened in December. Meanwhile, the MGM National Harbor has been increasin its revenue, generating profit of US$50 million every month.
