August was not kind to Horseshoe Baltimore from Maryland. The gambling venue has registered its worst month ever since it first opened its doors five years ago, receiving only $18.2 million in gross gaming income (GGR). The property, owned by Caesars Entertainment, now hopes to offer it a significant boost in its new outdoor gaming activities.
The GGR decrease is at 13 percent% from the same month last year. Horseshoe Baltimore had stiff competition from the MGM National Harbor and Live contest! For years, the casino has been pulling out all the stops to attempt to change the situation. The ongoing outdoor gaming location just part of the project,and a fresh GM, Randall Conroy, is now in place to promote the roll-out of fresh activity.
The poor performance of Horseshoe is not indicative of the general state of Maryland’s gambling affairs. On the contrary, last month, when GGR reached $154.3 million, the sector experienced a 5.4% rise. MGM National Harbor outstripped the remainder of the pack, controlling around 40% of the market with around $62.4 millions worth of business. That’s a 7% climb for the state’s leading casino estate.
Live! saw better profits than MGM, with a rise of 12.7%. For a strong second, the casino saw GGR $53 million, nearly three times that picked up from Horseshoe’s $18.2million. Ocean Downs, Rocky Gap and Hollywood, the remaining three venues, earned a combined $20.5 million. The first two saw their GGR rise of 6.5% and 5.8% respectively, while the latter had to settle for a fall of 2.7%.
Maryland’s wallet picked up $66.3 million from all the locations. That proved to be particularly useful for state education programs as $47.4 million of the total is earmarked for the Trust Fund for Maryland Education.
What’s next for the gambling industry in Maryland is anyone’s guess. It’s losing the race launching sports gambling in the region as Washington, DC, West Virginia and others already have the ball rolling.
Diving in wasn’t as simple for Maryland, with the capacity to introduce sportsbooks only possible by a government vote. Since this is an unusual year for the state, citizens will not be allowed to vote until November of next year, which implies that sports gambling will not come until at least 2021, if it gets sufficient assistance during the 2021 elections.