Maryland’s casino industry recorded a record month for December, logging revenues of 3.5 million—easily topping the former record of 4.3 million. The reason, of course, was the December 8 opening of MGM National Harbor on the shores of the Potomac in Fort Washington.
According to figures released by the Maryland Lottery and Gaming Control Agency, for the 23 days it was open in December, MGM National Harbor recorded $41.9 million in gaming revenues, topping the next-highest property, nearby Maryland Live! in the Baltimore suburb of Hanover, which recorded $48 million for the entire month.
Maryland Live!’s numbers were down 11.4 percent from December 2015, which may reflect some defection of customers to the shiny new MGM property. However, most observers noted that the small difference in the numbers means the market will be able to sustain the added capacity of the MGM property in the long term. Some pundits had predicted a 40 percent drop-off in revenues for Maryland Live! as a result of the new casino.
“In a little over three weeks, our performance exceeded our expectations,” said Bill Boasberg, general manager of MGM National Harbor, in a statement. “Clearly, the introduction of our $1.4 billion resort grew the casino market and was received warmly by our customers.”
Maryland Live!, which is adjacent to the Arundel Mills Mall less than an hour’s drive from the MGM site, is working to keep competition in the state tight. The property, owned by Baltimore’s Cordish Companies, plans to open a hotel and other improvements soon. Also, Cordish has emphasized that the casino’s customer base is drawn from the local community.
Maryland Live! “remains the top-grossing casino in Maryland,” casino President Robert Norton told the Baltimore Sun after release o the December figures.
Maryland Live! has instituted a program that is likely to retain the loyalty of its customer base, donating the first $10 wagered by all slot and table players to the casino’s philanthropic fund. “That is a way to say to the community, ‘We’re here, we’re local, we’re not going anywhere,” Norton said.
The other casino in the Baltimore/Washington corridor, Horseshoe Baltimore, recorded a 9.1 percent increase in revenues for December, despite the much-ballyhooed opening of the MGM property.
“We’re very pleased with our December results, particularly in light of the new competition within the marketplace, Horseshoe General Manager Erin Chamberlin said in a statement. “As we begin 2017, we’re confident we are well-positioned to succeed as the business environment continues to evolve.”
