It has been six months since the $1.4B MGM resort and casino opened at National Harbor and Peterson Cos.’ massive waterfront development is already experiencing a significant boost in its wake.
In addition to its own revenue, the highest of Maryland’s six casinos, MGM has driven increased retail traffic and hotel demand in National Harbor and has created optimism among developers with plans to build in the area. MGM National Harbor generated $50.6M in revenue in May, its second month above the $50M mark. The state’s next-highest-earning casino, Maryland Live Casino in Arundel Mills, brought in $45.9M.
MGM’s success has led to an increase in traffic at National Harbor, a 350-acre waterfront development in southern Prince George’s County that Peterson Cos. has been building over the last decade.
Overall traffic into National Harbor year-to-date is up 15% compared to the same time period in 2016, a year that also had record traffic, Peterson Cos. Executive Vice President Kent Digby said. “MGM certaintly creates much more awareness of National Harbor in the region and that is attracting people,” Digby said. “It has been a huge catalyst.”
Click here to read the rest of the story written by Jon Banister over at Bis Now