Four months after its August opening, revenues generated by Horseshoe Casino Baltimore are far below what was originally projected. Monthly revenue has averaged million, compared to million projected before the casino’s opening.
Meanwhile, Maryland Live!, in the Baltimore suburb of Hanover, is humming along. The Cordish casino, which had been projected to take the biggest hit from the opening of Horseshoe, has earned $53 million per month over the same period, more than twice the Horseshoe’s take.
“Obviously we’re disappointed,” local businessman Ben Hyman told radio station WJZ. “As long as they’re open we’re going see a percentage of their revenue… this time it might be a little bit down, but going forward we can count on that revenue every year.”
Hyman is head of Pigtown Main Street, a consortium of businesses in Baltimore’s Pigtown district, where the casino is located. He said the revenue disparity can be attributed to the fact that the Horseshoe is a new businesses, and predicted revenues will get better as the years progress.
