MGM National Harbor Casino Revenue Down For The First Time

MGM National Harbor Casino Revenue Down For The First Time

MGM National Harbor Casino had never posted a decline in revenue; however, despite grossing $59.1 million in gaming revenue in May, the casino posted a 5.1 percent year-over-year decline in revenue.

The gaming revenue of all casinos in Maryland slipped in May. The six casinos operating in Maryland posted total revenue of $152.3 million. The overall cumulative revenues of the Maryland casinos slumped by 2.7 percent year-on-year.

Maryland Lottery and Gaming Director Gordon Medenica, said: “As Maryland’s casinos reach full development of their respective markets, we will begin to see more volatility … as today420.6 milli’s report shows. We fully expect long-term growth to continue to be positive.”

Amongst the gainers were Live! Casino & Hotel at Arundel Mills and Ocean Downs Casino which posted a 2.8 percent and 12.5 percent uptick in the year-on-year revenue.

Horseshoe Casino Baltimore’s revenue was down 14.6 percent year-on-year, though it managed to gross $20.6 million in revenue in May.

The total gaming revenue in the state was $152 million, and the Maryland authorities grossed $63.7 million in revenue to be spent on state-sponsored programs.

Earlier, in March the Maryland casino revenues had touched a new high as the figures posted by Maryland Lottery and Gaming are 3.4% more than the previous high of $158 million the state’s casino industry generated.

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