CASINOS 6
VIDEO LOTTERY TERMINALS 11,700
VLT GGR $741.7m
TABLE GAMES 550
TABLE GGR $402.3m
TOTAL CASINO GGR $1.14bn
TAX REVENUE $569.8m
EMPLOYEES 5,514
provide significant competition to these two casinos all three venues rely on the Washington DC area for a share of their visitors.
However under a new law the existing casinos will get to keep more of their slot machine earnings now MGM is open as the state reduced the high tax rate for these casinos to help make up for the loss of their market share, but it is still yet to be seen what effect the new casino will have on these properties.
Maryland Live will pay 36 per cent of slots revenue to the education fund instead of its 43
MARYLAND CASINO DATA 2016 CASINO
Hollywood Casino, Perryville Ocean Downs
Maryland Live!, Cumberland Rocky Gap Resort,
Horseshoe Casino, Baltimore TOTAL
MGM National Harbor
per cent previously whilst Horseshoe will decrease from 45 per cent to 39 per cent. Teir share of revenue going to the state horse industry will also drop from seven to six per cent.
Tis is in reality a ‘compensation’ to alleviate some of the possible losses they will face now MGM National Harbor is open. Apparently a study in 2013 (before Horseshoe opened) predicted that a Prince George County casino would take 23 per cent of Maryland Live revenue and 14 per cent from Horseshoe. Te operators say these numbers are now outdated
NO. OF VLTS 850
800
3,923 634
2,202 8,409
3,300
VLT GGR 2016 $65.7m
$57.6m
$408.8m $41.3m
$168.3m $741.7m
n/a and they ‘look forward to the competition’.
In 2014 Maryland Live saw revenues of $655m which dropped in 2015 to $626.3m but by 2016 had risen again to $650.8m.
It is said that MGM are aiming at international guests and also families and say the market should withstand the new big boy in town.
Maryland received around $510m from the casinos last year and the sector is the state’s fourth largest source of funds after income, sales and corporate taxes.
NO. OF TABLES 22
-
206 18
178 424
136 -
TABLE GGR 2016 $11.6m $242m $142.1m $402.3m
$6.6m n/a NEWSWIRE / INTERACTIVE /
247.COM P45
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