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Opening Dec. 8, 2016, the MGM National Harbor casino floor has 3,300 slot machines and 124 table games in addition to 39 poker tables. (Washington Post photo by Bill O’Leary)
Maryland’s newest casino continues to expand the state’s gaming revenue pie while simultaneously cannibalizing market share from the state’s original five gambling venues.
Overall, the state’s six casinos had their second-best month, reporting $141 million in revenue for the month of December on the strength of nearly $56.6 million in revenue reported by MGM National Harbor.
The six-venue total represents a 5.7 percent increase compared to December 2016, the same month when MGM opened.
This was the first time the Maryland Lottery and Gaming Control Agency could provide a year-over-year comparison that included all six venues.
But MGM’s growth — more than $14.6 million, or about 35 percent year-over-year — comes as four of the five original casinos reported decreases in revenue compared to the same month a year ago.
Only Rocky Gap Casino Resort in Western Maryland, with its nearly $3.8 million in revenue, did better compared to December 2016. Last month’s revenue report represents a 6.8 percent increase over the same time last year.
Baltimore’s Horseshoe Casino reported total revenue last month of about $24 million or nearly $5.8 million less than a year ago.
The amount, a 19.5 percent decline, is the single largest revenue drop in terms of dollar amount and percentage decrease of all the state’s casinos.
Hanover-based Maryland Live Casino, MGM’s closest geographic competitor, reported nearly $47.2 million in revenue, about $833,000 and 1.7 percent less than the same time last year.
Hollywood Casino in Perryville reported nearly $5.8 million in December 2017, a $337,000 decrease — 5.5 percent — compared to a year ago.
Ocean Downs Casino in Berlin reported revenues of more than $3.7 million last December, a decrease of more than $369,000, or 9 percent, compared to December 2016. State officials said that Ocean Downs’ slot machine count was temporarily reduced for part of December due to construction related to the casino’s expansion.
