Maryland casinos revenues keep breaking record

Maryland started the casino business in 2010 and it is positioning as the next gambling hub.

Five casinos operate legally in the State and all of them have been increasing their revenues for the sixth consecutive month.

US.- Lottery and Gaming Control Agency of Maryland issued the casino reports of May, which show that the five legal casinos increased its revenues for the sixth consecutive month. In total, the gambling venues achieved US$104.4 million, breaking a revenue record for the second straight month.

The State is relatively new at casino businesses, as it only allowed licenses since 2010. However,the  gambling industry proved to be worth it in Maryland. Combined, casinos revenues reached 10.2 percent of increment during the last four months, in comparison with 2015’s incomes. Maryland has been perceiving greater growth in the field than New York, Pennsylvania and Ohio.

The industry is also contributing with Maryland’s social interests, as 20 percent of the proceeds from table games and 77 percent from slot machines are destined to help fund education, subsidies for the horse industry and another State’s programs. Casino operators are allowed to keep 80 percent of table games’ profits as well as 33 percent of slot machines’.

Maryland plans to keep growing in the gambling sector, as authorities approved the installation of a sixth casino, the MGM National Harbor resort in Prince George’s County. The luxury venue is expected to open its doors later this year. As to the current operating casinos, the tendency noted higher results. Horseshoe Casino Baltimore generated US$28.7 million, 31.3 percent more than the same period of 2015. Maryland Live achieved US$59 million, meaning 1.8 of increment. Rocky Gap Casino Resort Revenue was up 4.1 percent, to US$4.4 million. The slots-only Casino at Ocean Downs increased 3.2 percent, to US$5.1 million. Whilst Hollywood Casino Perryville suffered a 3.1 percent drop, to US$6.8 million.