MGM National Harbor recovers in July
The biggest casino from Maryland, MGM National Harbor, posted a revenue rise in July after two straight months of decreases.
US.- Maryland Lottery and Gaming released on Tuesday the latest report detailing the financial results of July operations. After two months of straight declines for MGM National Harbor, the facility posted a 4.1% year-on-year increase.
The six licensed casinos in Maryland generated US$149.3 million in gaming revenue in July. That figure represents a 1.9% increase from July 2018. MGM National Harbor accounted for US$60.8 million of the total generated, which is also a 4.1% increase from the same period last year.
Live! Casino & Hotel, the second-largest facility in Maryland, reported US$49.3 million in gaming revenue. This represents a 3.2% rise when compared to the same period last year. Baltimore’s Horseshoe Casino, the third-largest facility, experienced a revenue fall of 5.2% to US$19.4 million.
Moreover, Hollywood Casino Perryville generated US$6.5 million in July, representing a 5.9% rise. Rocky Gap Casino Resort posted US$5.2 million in gaming revenue and increased its finances by 0.6%. On the other hand, Ocean Downs Casino generated US$8.2 million in gaming revenue but it was 5.5% less than July 2018.
June results
The six casinos posted underwhelming results in June and reported a 4% year-on-year decline. It was the second consecutive month that the state posted negative revenue results.
The casinos in Maryland generated US$142.9 million in revenue in June, which represents a 4% decline year-on-year. MGM National Harbor totalled US$56.9 million, the highest in the state, but also reported a 4% drop in revenues from June 2018. Horseshoe Casino on Russel Street reported an 18% year-on-year fall and registered its worst numbers since December 2017 when revenue fell 19.5%.
On the other hand, Maryland Live! Casino and Rocky Gap Casino were the only facilities to report increases in revenues in June. The former generated US$49 million and a 1.7% increase, while the latter reported US$5.1 million and an increase of 7.5%.
