National Harbor Hits Low Point in Gaming Revenues
National Harbor has been earning top numbers each month for the past six months, only to hit their lowest point in revenues in September.
Maryland has been very successful with their casino gaming industry, especially after the MGM Resorts National Harbor opened in December of 2016. With the opening of the MGM gaming venue, the state began to see record revenue numbers each month, easily surpassing the $100 million mark. For the past six months, the National Harbor venue has reigned supreme, sitting at the top of the casinos when it comes to earnings. However, for September, the casino hit a low point, earning the least amount in a six month time frame.
The Maryland Lottery and Gaming Control Agency recently released the gaming revenue numbers for the month of September. In total, the six operating gaming venues of Maryland brought in $134.5 million. This is an increase of more than 38% when looking at the September 2016 totals but of course, the MGM National Harbor was not in operation at that time. If you look at the casino revenues without the contribution from MGM, the state actually would have seen a decrease of just over 12% when looking at this September compared to last September.
When comparing September numbers to August of this year, the casinos brought in $3 million less. This is a significant loss when moving from month to month. For September, National Harbor was able to generate $49.3 million which is still good earnings but less than the record earnings of $52.9 million from August.
While the casino earned less in monthly totals than what has been earned over the past six months, they still managed to outdo the competition. The problem in September was table game revenues. For MGM National Harbor, the table game revenues came in at $4 million lower than what was earned the month previous in August.
The Rest of the Pack
Sitting in second place is the Live! venue of Cordish Gaming. The casino earned just under $47 million. This amount is close to 13% less than what the casino earned in September 2016. Both slots and table games were off for the property with slots seeing a dip of $3 million when compared to last September and table games down $4 milion.
The largest decline for the month was seen by the Horseshoe Casino Baltimore. The casino dropped just over 22% to under $21 million. Slots brought in $12.8 million which is an 11% decrease for the venue. Table game revenue was down to just over $8 million.
The remaining casinos of Maryland were in the positive with increases both small, medium and large. The Hollywood Casino Perryville earned $5.9 million for the month which was a 0.1% increase. Rocky Gap brought in $4.7 million which is an increase of just over 6%. Ocean Downs earned just over $6 million which is more than 12% from last year.
All the casinos in Maryland are doing well and creating a powerhouse when compared to other gaming markets of the United States. Despite the fact that MGM National Harbor saw lower numbers than the past six months, they still managed to earn solid numbers and remain the dominate gaming venue in the state.
It will be interesting to see how the rest of the year plays out and if the casino will be able to remain the top operator in the state. Only time will tell if Live! will make a jump and push past the competitors or MGM will remain the best producer of revenues for Maryland.