Horseshoe’s revenue slides as MD casino earnings drop for second straight month

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Photo by Jamie Adams, via Wikimedia Commons

The past few months have not been good to Baltimore’s sole casino, and the bad luck appears to have spread to its peers in June.

While generating $142.9 million in revenue last month, with about $60 million of that going to the state’s coffers, Maryland’s six casinos’ collective earnings dropped 4 percent from one year earlier.

Maryland Live! Casino in Arundel Mills and the much-smaller Rocky Gap Casino in Cumberland were the only casinos to record revenue increases last month. MGM National Harbor still led the pack with $56.9 million, though it marked a 4 percent drop from one year earlier.

The decline was the steepest at Horseshoe Casino on Russell Street, which recorded a roughly 18 percent year-over-year slide, its worst mark since December of 2017 when earnings fell by 19.5 percent.

Horseshoe started off 2019 with its first (if ever-so-slight) bump in months. But after middling for the rest of the winter–a 3.6 percent loss in February, a 3 percent gain in March–the casino has since recorded respective drops of 9.6 percent, 14.6 percent and 18.2 percent for April, May and June.

Last month marked the second straight statewide dip after revenues fell 2.7 percent in May.

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Ethan McLeod

Senior Editor at Baltimore Fishbowl
Ethan has been editing and reporting for Baltimore Fishbowl since fall of 2016. His previous stops include Fox 45, CQ Researcher and Connection Newspapers in Virginia. His freelance writing has been featured in CityLab, Slate, Baltimore City Paper, DCist and elsewhere.
Ethan McLeod
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