Zona de Azar USA – Maryland: December Revenue for Casinos Falls 20% from 2019
USA.- January 6th 2021 www.zonadeazar.com Maryland casinos saw their revenue continue to drop last month as the state faced new restrictions and rising numbers of Covid-19 cases.
Total revenue from the state’s six casinos plunged nearly 20% year-over-year in December, according to the latest financial report released Tuesday by the Maryland Lottery and Gaming Control Agency. The $119.4 million the casinos generated was $29.7 million less than in December 2019, and marks the most substantial year-over-year decrease since the start of the pandemic outside of the months when casinos were closed to visitors due to the pandemic.
Horseshoe Casino, Live Casino & Hotel and MGM National Harbor, all limited to 25% capacity in December amid a spike in Covid cases, reported the biggest year-over-year declines.
Horseshoe saw its revenue drop by nearly a third compared to December 2019. The South Baltimore casino generated $12.8 million, a 32% decrease. That’s the casino’s largest ever year-over-year decline for a full month in business, according to state reports dating back to November 2016. Horseshoe, along with the state’s other casinos, registered sharper drops in March and June of last year, months in which they were required by the state to close for several weeks due to the pandemic.
MGM National Harbor reported the second biggest decline, 22.5%, with $48.5 million in revenue. Anne Arundel County’s Live Casino & Hotel, which brought in $42.9 million, had the third biggest year-over-year loss, 17.2%.
The state’s other three casinos are operating at 50% capacity due to the pandemic. Two of them — Western Maryland’s Rocky Gap Casino and the Eastern Shore’s Ocean Downs Casino — also reported losses, of 16.3% and 9.9%, respectively. Rocky Gap Casino generated $3.5 million in revenue, while Ocean Downs pulled in $5.1 million.
Just one Maryland casino saw year-over-year revenue growth. Hollywood Casino in Perryville had $6.6 million in revenue in December, an 8.4% increase. The gains came at a time when casinos across the state line in neighboring Pennsylvania were shut down due to Covid.
Edited by: @MaiaDigital www.zonadeazar.com
