Horseshoe sees another revenue slide in the month of May

0
Share the News


Photo via Horseshoe Casino/Facebook

Though 2019 started out on a good note, Horseshoe Casino once again saw its year-over-year revenue slide, according to new figures released by the Maryland Lottery and Gaming agency.

In May, the city’s lone casino brought in $20,559,140, a decrease of roughly $3.5 million (or 14.6 percent) from May 2018. While January and March had slight increases in gambling revenue, February, April and May all saw declines.

Overall revenue at the six casinos in Maryland was down 2.7 percent, or about $4.3 million, from May of last year. MGM National Harbor was once again leading the charge, taking in $59.1 million (a year-over-year decline of 5.1 percent), followed by Live! Casino and Hotel, which collected $53.5 million (a year-over-year increase of 2.8 percent).

Of the $152.3 million in revenue last month, $63.7 million was directed to the state, of which $47.7 million went into a trust to fund education.

There’s some good news in all of this: 11 months into the fiscal year, revenue has actually increased from where it was last year. The casinos have collectively taken in more than $1.6 billion up 5.7 percent from 2018.

Officials have eyed the area between the casino and M&T Bank Stadium for a nightlife complex, and a Topgolf driving range is slated to open nearby next year.

Brandon Weigel

Brandon Weigel is the managing editor of Baltimore Fishbowl. A graduate of the University of Maryland, he has been published in The Washington Post, The Sun, Baltimore Magazine, Urbanite, The Baltimore Business Journal, b and others. Prior to joining Baltimore Fishbowl, he was an editor at City Paper from 2012 to 2017. He can be reached at [email protected]
Brandon Weigel


Share the News

LEAVE A REPLY

Please enter your comment!
Please enter your name here