Maryland’s newest casino grossed more than $28 million in its first month, but may have taken a bite out of the revenue at an existing casino, officials said this week.
Maryland Live! Casino, which opened June 6 at the Arundel Mills shopping center in Hanover, brought in $28.48 million during the remainder of the month, or about $360 per day for each of its nearly 3,200 machines, according to the Maryland State Lottery Commission.
Of that total, $13 million will go into the state’s education trust fund, and $1.5 million to local impact grants. The casino’s operators will keep about $9.4 million, according to the commission.
Overall, the state’s three casinos grossed revenues of $40.8 million in June — with $19.8 million going to the education trust fund — but with Maryland Live! excluded, state revenue dropped 2 percent over June 2011.
Revenues at Ocean Downs in Berlin increased by 16 percent, probably the result of increased marketing around Ocean City, said Stephen Martino, director of the lottery commission.
But revenues at Hollywood Casino Perryville dropped by 9.8 percent, which Martino said likely was due to competition from Maryland Live!
“The results are right in line with projections,” Joe Weinberg, managing partner with The Cordish Cos., which owns Maryland Live! Casino, said in a statement Tuesday. About 500,000 people visited the casino, with about half coming from Washington, D.C., the Maryland counties surrounding the District and Virginia, he said.
The Cordish Cos. has vehemently opposed plans to build another major casino in Prince George’s County, which also would draw customers from the D.C.-area. If Maryland Live! is to continue meeting state expectations, it must attract those visitors, Weinberg said.