Maryland’s five casinos generated million in revenues for July, which is a new record for the state’s young casino industry.
Total casino revenue for July increased by 30.2 percent compared to July 2014, according to numbers released by the Maryland Lottery and Gaming Control Agency.
The Horseshoe was the reason. Excluding the Horseshoe Casino Baltimore, which opened last August, revenue decreased by $1.4 million, or 1.9 percent. Horseshoe brought in $24.4 million. The casino has spent the summer rebounding since its revenue took a hit following April’s riots.
Revenue declined both at Maryland Live!, the state’s largest casino, and Hollywood Casino Perryville in July. Hollywood Casino generated $6.9 million, an 8.1 percent decline from July 2014. And Maryland Live! saw a slight drop from July 2014 revenue. The casino brought in $56.9 million, a 2.2 percent decrease from July 2014.
The Casino at Ocean Downs and Rocky Gap Casino Resort saw increases in July revenue. The Casino at Ocean Downs generated $6.4 million, an increase of 4.9 percent over July 2014. And Rocky Gap’s July revenue increased by 4.1 percent $4.3 million.
Meanwhile, the gaming agency reported that net income to the state from combined lottery sales and casino revenue for 2015 have reached the $1 billion for the first time in 2015.
The agency reported that $525 million came from the lottery and $487 million from the state’s casinos. Officials say the total is an increase of about 19 percent from the 2014 fiscal year.
Maryland’s sixth casino, MGM at National Harbor across the Potomac River from Washington, D.C., is due to open in 2016. Some analysts predict that casino will generate more annual revenue than any other gaming venue in the U.S.
