Some good news for Maryland’s legal gambling industry: Revenues are up from 2016. Some bad news for the Baltimore area’s two gambling spots: Revenues are sinking every month from 2016.
Tag: Maryland Live! Casino
Taking a chance at winning is part of a visit to any casino. But Maryland Live’s latest gambling offering is something of a moonshot.
Not long ago, we told you about all the sophisticated security systems in place to catch cheaters in Maryland’s new casinos. But that hasn’t stopped some enterprising folks from sneaking fake $100 chips into the Maryland Live casino.
Casino officials were quick to point out that the fraudulent chips were used at roulette, blackjack, and mini-baccarat tables, not in the poker room. Why does it matter? Well, the poker room is the casino’s pride and joy. According to the Washington Post, it’s regularly the second-busiest poker room in the entire country. And it’s about to break into the big time even more thanks to a $1 million tournament that started this week, and which will be featured on a new TV show called “Poker Night in America.” Which means they really, really don’t want anything to go wrong.
If you’ve entertained the thought at trying a little high-stakes cheating at the Maryland Live Casino in Arundel Mills, here’s my advice: Don’t.
According to this weekend’s Washington Post story, the surveillance team at the casino is on par with its neighbors over at the NSA. The security team is 200-officers strong, and there are 1,200 cameras scattered throughout the casino.
If you’re finding it difficult to make the rent, consider installing a slot machine in front of your apartment; in Maryland they’re generating more than $100 of revenue per day. That’s according to a press release from the Maryland Lottery and Gaming Control Agency.
Of course, if you’ve got the time to run a table game — say, on your front porch — they’re much more profitable, generating anywhere from a few hundred to a few thousand dollars a day.
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.