Mon September 16, 2013
Maryland Gambling Revenue Could Top Out Soon
Maryland gambling revenues may be hitting a ceiling soon with total take at $71 million in gross revenue in August.
Mark Nichols, an economics professor who specializes in the gambling industry at the University of Nevada in Reno says, don’t expect that expansion to continue.
There will be more competition in the next three years from the state’s two new casinos in Baltimore and Prince George’s county over the next three years.
Bill Fasy the chief operating officer for the Casino at Ocean Downs says the Worcester County establishment is already competing with the Hollywood Casino in Perryville.
He told the Salisbury Daily Times that Ocean Downs has also lost customers to Maryland Live! In Anne Arundel County which raked in more money than the rest combined last month.
That casino saw a 64 percent rise in revenue between August 2012 and August of last this year.
All of this comes on the heels of competition from nearby states like Delaware, Pennsylvania and West Virginia.
Maryland recently added table games to compete with them.