State approves slots reductions at Maryland Live and Horseshoe

Horseshoe, which has 2,500 slots and 147 table games, received permission to add 30 table games. Maryland Live, which has 4,222 slots and 189 table games, will add 13 table games.

Approval came through on  unanimous voical votes by the commission, despite the concerns voiced by some state legislators at a hearing last week regarding the impact on the state's share of casino revenues.

Under state regulations, casino operators are permitted to keep 80 percent of the proceeds from table games and about 33 percent from slot machines.

A consultant's analysis estimated that the state would lose $498,000 in revenue in the first year if Maryland Live reduced its slots by the requested amount, but that the long-term financial outlook for the move was "positive."

Robert Norton, president and general manager of Maryland Live, told the commission that he disagreed with the short-term assessment.

"We don't predict any negative impact due to this change," Norton said.

The consultant, Will Cummings, said at the meeting that Horseshoe's slot reductions also would cause a state revenue decline, but that the loss would be quickly offset by additional table games profits.

Horseshoe general manager Chad Barnhill said the adjustment will allow the casino to take better advantage of a "robust" market in Baltimore for table games.

Barnhill said the change means that Horseshoe, which told the commission it plans to hire 100 additional table-games dealers, will have additional flexibility to offer low-minimum bets — something he said the public has been seeking.

"I think it's very positive to be able to do that," he said after the meeting.

The commission originally scheduled to vote on the slots reductions proposals last week.

However, the state Senate's Budget and Taxation Committee requested that the vote be delayed until it could be better briefed.

"As you know, any reduction in the number of video lottery terminals will have a significant impact on state revenues," committee chairman Edward J. Kasemeyer said in a letter to the commission on Jan. 21.

The Senate committee members "did not feel they were entirely knowledgeable about the mechanics of what was going on," Lottery and Gaming Control Agency director Stephen Martino said at Thursday's meeting.

The vote was postponed until the committee could be briefed. That happened last week, Martino said.

Horseshoe reported $22.9 million in revenue from slot machines and table games in December, down about 2 percent from November. The revenue was split almost evenly between slots and tables games.

Maryland Live reported revenue of $50.2 million — $31.6 million from slots and $18.6 from table games.

sizU� .p �H pIfamily:"Helvetica","sans-serif";color:#333333'>The Department for Culture, Media and Sport (DCMS) said it did not discuss private meetings.