MGM National Harbor continues to do well after launching in December 2016. The casino is located around 35 miles from Maryland Live, the biggest gambling earner for the state, that is until the MGM property opened. MGM National Harbor has seen so much traffic, the venue has surpassed the $50 million mark in monthly revenue earnings for the fourth month in a row. In July, the venue generated $50.77 million in table game and slot win, with most of the remaining casinos seeing a decrease in monthly earnings.

The Maryland Lottery and Gaming Commission reported earlier in the week that the six casinos of the state would bring in close to $139 million in revenues for July. This was an increase of just over 33% when compared to July of last year. However, if you take away the contribution by MGM from the total monthly earnings, the monthly total is over 15% less than what was earned in July 2016 by the casinos of the state.

MGM National Harbor continues to dominate the market and is seemingly taking away revenues from other gaming venues in Maryland. The former top earner, Maryland Live, earned only $46.8 million for the month. This is a decrease of more than $13 million, a drop of 22.5%. The Horseshoe Casino Baltimore also saw a big drop in earnings, with an 8% decrease, bringing in just $22.9 million.

The Hollywood Casino Perryville and Casino at Ocean Downs were also down for July. Hollywood suffered a 2.4% decrease while Ocean Downs was slightly less at 1.4%. The only casino to see an increase in earnings was the Rocky Gap Casino Resort. This venue is the smallest one in the state and they would see a slight .3% increase in earnings, taking in $5 million for the month.

Overall, the MGM property earned close to 37% of the total gaming revenues for the state during the month of July.

While MGM National Harbor is doing quite well, the other casinos seem to be hurting. Maryland Live has taken the biggest hit and appears to be trying to make up for the losses by investing further into the property. The venue is currently working towards building a 17-story hotel tower that will include 310 guest rooms and cost $200 million to build. Maryland Live also purchased a local Hilton Garden Inn and have rebranded the property under the Live name, with guests traveling via shuttle to reach the casino.

MGM National Harbor surpasses $50m again in monthly earnings; other Maryland casinos see decrease was last modified: August 9th, 2017 by Marie Kelley