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MGM National Harbor Casino Revenue Down For The First Time
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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Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at hm@casino.buzz

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