The $1.4 billion MGM National Harbor leapfrogged Maryland Live as the state’s top revenue-producing casino in January, its first full month of operation.
The new Prince George’s County casino, which opened in early December, generated $48.8 million from slot machines and table games, making it the state’s top money maker by nearly $5 million, the Maryland Lottery and Gaming Control Agency reported Monday.
Analysts said the market was still in flux as the state absorbed its sixth casino, and several cautioned against drawing long-term conclusions.
Because MGM National Harbor remains a novelty, “it’s really difficult to extrapolate results moving forward,” said analyst John Decree of Union Gaming. “It’s a completely different type of property than what Maryland has seen so far. It’s very Las Vegas-esque.”
MGM accounted for more than a third of the $126.2 million generated by all of the state’s casinos in January.
Most other casinos saw “expected” declines as the state’s “gaming market continues to evolve,” the gaming control agency said in a release accompanying the figures. Not including MGM, revenues decreased 12.4 percent from January 2016.
Click here to read the rest of the article written by Jeff Barker and Natalie Sherman over at the Baltimore Sun
