MGM National Harbor continues revenue slump
After a slow May, June wasn’t too much better
MGM National Harbor, owned by MGM International Resorts, in Prince George’s County, MD is experiencing somewhat of a lull in activity. After reporting a less-than-satisfactory May – its first year-over-year decline ever – the June numbers are in and things continue to trend downward. Maryland’s largest casino can’t seem to find its groove.
National Harbor reported gross gaming revenue (GGR) of $56.9 million for June, a decrease of 4.1% over the same month last year. The venue is the state’s largest casino and offers over 200 table games and more than 3,100 slots and, despite the two-month downturn, it still manages to supply the state with the bulk of its gaming revenue. National Harbor is responsible for 40% of what Marylanders gamble.
The second-largest property is Live! Casino & Hotel, which is located in Arundel Mills. It showed a slight uptick in performance last month, reporting GGR of $49 million for a 1.7% year-on-year increase.
The other four properties in the state were all over the place. Horseshoe Casino in Baltimore saw a major decrease in its operations, losing 18.2% in GGR last month compared to the same period last year. It reported revenue of just $18.7 million for the month.
Rocky Gap Casino Resort was also up, improving its GGR by 7.5% year-on-year to $5.1 million. However, Ocean Downs Casino was down by 4.8% to $6.9 million and Hollywood Casino in Perryville was also down, losing 3.9% and reporting GGR of $6.4 million.
The aggregate GGR for the six venues was $142.9 million for the month, which represents a 4% decrease from June of last year. Of this amount, $60.1 million made it to Maryland’s wallet, of which $45.1 million will be used for the state’s Education Trust Fund.