WASHINGTON – Since its opening in 2012, Maryland Live! Casino in Anne Arundel County has been Maryland’s most successful casino.
In October, the casino, which is in Arundel Mills Mall, made $51.8 million on gross gambling revenue, the sixth straight month it topped the $50 million mark.
But, when the new Horseshoe Casino opens in Baltimore next year, revenues at Maryland Live! could drop, according to a study commissioned by the Maryland Lottery and Gaming Control Agency.
Baltimore’s projected 122,000 square-foot facility will be housed on Russell Street, south of Camden Yards and M&T Bank Stadium. It will have two floors, 2,435 slot machines, 117 banked tables and 30 poker tables. The casino is expected to open next fall.
According to the study, Maryland Live! will see the most severe negative impact from the Baltimore casino. Although five-year projections show revenues at the Maryland Live! will outpace the Horseshoe-Baltimore casino, winnings from slots is expected to decline 16 percent, and table games by 25 percent in 2016.
“Wins per unit, per day will slightly exceed those at Maryland Live! because the Horseshoe will be somewhat smaller and thereby enjoy slightly higher utilization rates,” states the report by Cummings Associates of Massachusetts.
Maryland Live! president Rob Norton tells the Maryland Gazette he’s not concerned about the competition from neighboring casinos.
Prince George’s County is getting into the act as well. Three companies are vying for a contract to build a planned casino in the county. The Video Lottery Facility Location Commission will decide who gets the contract. The finalists are: MGM Resorts International, Greenwood Racing Inc., and Penn National Gaming Inc.
A decision is expected to come during a commission meeting Dec. 20.
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