horseshoe casino baltimoreCasinos in the U.S. state of Maryland registered a growth of four percent in revenue in January even though a severe winter storm took a toll on casino operations.

According to the latest report released by the Maryland Lottery and Gaming Control Agency, the five casinos in the state reported total revenue of $88.3 million which was an increase of four percent over the same period last year. Revenue in December had increased by 11 percent over previous year to $95.1 million. The best performing month for the casinos in 2015 however was during July with revenues going up to $98.9 million.

The storm was one of biggest that Maryland had faced started on January 22, a Friday and continued all through the weekend, impacting revenue for the state’s casinos to varying degrees.

Horseshoe Casino Baltimore which usually remains open on a 24-hour basis was closed for the better part of the weekend. It closed on Friday at 9 p.m. after the storm commenced and opened only on Sunday around noon citing safety concerns.

In a statement, Horseshoe Casino Baltimore said

Despite closing over a weekend to ensure guest and team member safety during last month’s blizzard, we continued to see meaningful growth on a year-over-year basis. While the closure impacted peak business periods, our strong overall performance extended the upward revenue trend the casino is enjoying.

The casino has reported earnings of $23.6 million for January, a rise of 2.1 percent from same period last year. The state’s largest casino Maryland Live however remained open for the entire period. It has reported revenues of $52.1 million which is a growth of 5.5 percent over same period in 2015.

According to Robert Norton, Maryland Live’s president, the casino operated with just their critical-employees and rented hotel rooms in the campus for both customers and employees in order to avoid unnecessary travel and ensure their safety.

He added that although the storm impacted their revenues as it occurred during a busy time, the company was very happy with the earnings declared.

Out of the three remaining smaller casinos, Hollywood Casino Perryville in Cecil County declined by 8.2 percent to revenue of $5.5 million while other two posted a growth. Rocky Gap Casino Resort situated in Allegany County grew by 11.9 percent to $.3.3 million while Casino at Ocean Downs in Worcester County which operates only slot machines saw a growth of 10.1 percent in its revenue to $3.7 million.

Categories: Casino News

Posted on: 8th February 2016 by: Gary Beachley