In August, the Horseshoe Casino in Baltimore hit a new low in monthly revenues, according to figures released September 5 by the Maryland Lottery and Gaming Control Agency. Total slots and table game revenues last month dropped to $18.3 million, down 13 percent from this time last year.
The Caesars Entertainment property, which opened in 2014, has unsuccessfully tried to fend off competition from MGM National Harbor and Live! In Arundel Mills. Hollywood Casino Perryville ($6.7 million) also was down by 2.7 percent. But overall, the state has seen growth in the industry, generating a total of $154.3 million for the month—up $8 million year-on-year.
The top-earner among Maryland’s six gaming halls was National Harbor at 62.3 million, a year-over-year increase of about $4 million. Live! Casino & Hotel posted a total of $53 million for the month and Ocean Downs Casino realized $8.8 million, also up from last year’s numbers.
Casino revenue supports the Maryland Education Trust Fund, local impact grants, local jurisdictions, the state’s horse racing industry and the Maryland General Fund.
Horseshoe’s August results continued a losing streak, , according to Baltimorebrew.com. It “barely matched 2018’s results” from January through March), and “has lost $1 in every $10 in revenues it recorded a year ago,” the news site reported. June was an especially bad month. Revenues dropped 19 percent year-on-year to $18.7 million.
Despite the declines, Horseshoe’s Facebook page took a bright view, and thanked the city of Baltimore for its “continued support and participation” as the casino marked its fifth anniversary. “It truly was an experience filled with laughs, fun, and memories that will last a lifetime,” the post continued. “Cheers to the next five years, Charm City!”
