Maryland State casinos see dip in August revenues

There was less revenue generated by the casinos operating in Maryland in the month of August, as the fight was heating up over the possible expansion of gambling operations in the state.

According to the Maryland lottery, Gaming revenue in the state fell to USD 3.5 million from the USD 48.1 million, which was reached in the previous month.

Maryland casinos had once projected that they will draw an annual revenue of USD 660 million. However, now, they have brought in USD 390 million ever since the first casino, Hollywood Casino Perryville, in the state was launched online in September 2010.

As of August 2012, ‘Cordish Cos.’ has bought in more than USD 96 million thus far in this year. This figure includes close to 32.4 million in August alone. It was just USD 3 million shy of July figures of another casino, ‘Maryland Live!’, which was opened recently in June. ‘Maryland Live!’ made USD 35.4 in the month of July, which was is its first month of operation.

Penn National Gaming Inc’s Hollywood Casino Perryville has continued to lose out on revenue, ever since the opening of ‘Maryland Live!’. It has only brought USD 6.5 million, whereas Ocean City’s Casino at Ocean Downs has only covered USD 5.7 million.

Casino operators and developers are having millions at stake in Maryland plan for expanding gambling in the state. These measures are going to allow the County Casino of Prince George as well as give authorization to the table games, which include roulette and blackjack.

The state expects that this move is going to give its casinos with more of the slice of revenues in gambling industry. The operators and developers have already made an investment of millions in television to promote the pros and cons of gambling getting expanded.

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