I know I had some doubts about the recently opened Maryland Live! Casino, but after the results from its earnings this month, I may need to take my criticisms back.
A statement from the Maryland Lottery came out today that the casino, which opened June 6 at Arundel Mills Mall, pulled $28.5 million in its first 25 days. That’s more than twice what Maryland’s two other casinos took in – 8 million from Hollywood Casino Perryville and $4.4 million from Ocean Downs, on the Eastern shore.
Even though you have to consider that this was the casino’s opening month, that’s still a ton of money. And two-thirds of it goes to the state in taxes, most of which is supposed to be put into the state’s education trust fund. That’s a great deal for pretty much everyone – the casino’s investors, the people it created jobs for, the players, and the kids in Maryland schools.
The real question we have to think about now is what to do about the other casinos that are hoping to start up in Maryland. Is demand strong enough to justify building one or two more, or would that spread the casino clientele too thin? At least for the other two Maryland casinos the Maryland Live! opening doesn’t seem to have changed too much – Hollywood dipped 9.8 percent and Ocean Downs went up 16 percent.