Maryland’s casino industry continued its healthy growth last year, with the state’s six casinos generating almost $1.75 billion in revenue for 2018, up 8.2 percent from the previous year.
Five of the six Maryland casinos saw revenues rise last year, with MGM National Harbor in Fort Washington seeing the largest gain, generating $705 million, around $100 million more than the previous year. Live! Casino & Hotel at Arundel Mills Mall in Hanover saw revenues jump 55 percent to $575 million—a sign that the casino, the top operation in the state before the opening of MGM, has successfully absorbed the competition from its neighbor on the Potomac, helped by the opening of its hotel.
The other side of the coin on the impact of MGM is Horseshoe Baltimore, which saw revenues drop by $12 million to $260 million in 2018—the only Maryland casino to see revenues fall. Horseshoe has struggled since the opening of MGM in December 2016.
The other three Maryland casinos—Ocean Downs at the shore, Hollywood Casino Perryville and Rocky Game Casino Resort in Western Maryland—also reported revenue gains for 2018, although overall revenues at the three, all tiny in comparison to the three Washington/Baltimore corridor resorts, was only a fraction of the total of the big three.
Drilling down into the results, released last week by the Maryland Lottery and Gaming Control Agency shows slot revenue to remain king, outstripping table-game revenue by more than $400 million. However, table revenue at the large casinos, which accounted for most of the $654 million in revenues, constituted 48 percent of revenues at MGM. 42 percent at Horseshoe and 32 percent at Live!
