MGM National Harbor’s first full operating month had the expected negative revenue effect on its two closest competitors, but Maryland casinos still saw overall growth year-over-year in January thanks to the newest gambling floor.
The state’s six casinos generated $126.2 million in revenue in January, up 42.8 percent from January 2016. MGM National Harbor, which opened Dec. 8, led the way with $48.8 million.
Excluding MGM, the casino revenue decreased year-over-year by nearly $11 million, or 12.4 percent.
Maryland Live Casino saw a year-over-year drop for the second straight month, generating $44 million in January, down just over $8 million, or 15.6 percent. Maryland Live is the closest casino to National Harbor.
Likewise, Horseshoe Casino Baltimore saw a year-over-year decrease of 14.5 percent to $20.2 million in revenue in January. That comes after Horseshoe realized a 9.1 percent increase in December despite MGM National Harbor opening.
Click here to read the rest of the article written by Joshua Gordon over at the Washington Business Journal