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September 30, 2020

The casino industry was shuttered by the virus from mid-March to mid-June

Maryland: three casinos grow YoY revenue in July despite coronavirus restrictions

Maryland: three casinos grow YoY revenue in July despite coronavirus restrictions
Live Casino & Hotel, located in Hanover, was among the three casinos that saw year-over-year growth.
United States | 08/10/2020

Live Casino & Hotel, located in Hanover reported $51.5 million in revenue, a 4.5% increase over last July, Hollywood Casino reported $7 million in revenue, a 7.4% increase and Rocky Gap Casino reported $5.5 million in revenue, a 6.1% increase.

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aryland Lottery and Gaming on Wednesday released financial data offering the first picture of a full month in business under the new restrictions on the casino industry, which was shuttered by the virus for three months, from mid-March to mid-June. The closures resulted in the industry's revenue falling by more than a quarter in fiscal 2020, which ran through June.

Three casinos grew their year-over-year revenues in July despite a state mandate restricting them to 50% capacity amid the novel coronavirus pandemic, the Baltimore Business Journal reports.

The latest financial report released by Maryland Lottery and Gaming on Wednesday offers the first picture of a full month in business under the new restrictions on the casino industry, which was shuttered by the virus for three months, from mid-March to mid-June. The closures resulted in the industry's revenue falling by more than a quarter in fiscal 2020, which ran through June.

The state's six casinos were allowed to reopen starting June 19, though some waited longer and others returned in phases, opening first for members and then to the general public.

In all, the local casino industry generated $139.9 million in July, a 6.1% decrease compared to July 2019, when there were no capacity limits beyond those imposed by the fire code.

"The casinos worked very hard to reconfigure their operations for this ‘new normal,’ and while this is still uncharted territory in many ways, these are strong results, given the circumstances," Maryland Lottery and Gaming Director Gordon Medenica said in a statement accompanying the numbers. "With limited entertainment options, people have been eager to get out and do something fun."

In addition to the limits on capacity, casinos have instituted safety measures including mandatory mask-wearing and temperature checks for patrons and staff. They've reduced the number of slot machines available on the gaming floor as well as the number of seats at gaming tables to enable social distancing.

Live Casino & Hotel, located in Hanover, was among the three casinos that saw year-over-year growth. Live reported $51.5 million in revenue, a 4.5% increase over last July.

Baltimore's Horseshoe Casino, meanwhile, reported the largest year-over-year decline among Maryland casinos. Horseshoe generated $15.8 million in July, an 18.5% decrease.

In Prince George's County, MGM National Harbor pulled in the largest haul, with $52.3 million in earnings. The number still marked a 13.9% year-over-year decrease.

Here's how Maryland's other casinos fared:

  • Hollywood Casino: $7 million in revenue, a 7.4% increase
  • Ocean Downs Casino: $7.8 million in revenue, a 5.2% decrease
  • Rocky Gap Casino: $5.5 million in revenue, a 6.1% increase
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