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Maryland Live! Pulls in $28 Million in First Month

Hanover casino contributed $13 million to the state's education trust fund.

The Maryland Live! Casino at Arundel Mills in Hanover generated more than $28 million in revenue during its first month of operation, with each slot machine collecting more than $359 a day in June.

The casino generated about 70 percent of all the slots-related revenue in Maryland, and pumped $13 million into state’s education trust fund, according to figures from the Maryland Lottery.

Maryland Live! and has 3,171 game terminals in operation. It will add 1,575 more by the end of the fall. It is one of three active casinos in the state.

“I think it went well. I think the numbers are impressive, but we’re not surprised by them,” said Maryland Lottery Director Stephen Martino in an interview with Patch. “Given the fact that Maryland Live! is the largest casino and that there’s still more machines that are coming online, there are things that we look at that weigh how things ended up. But these are strong numbers.”

Overall, Maryland’s three casinos generated $40,835,001.25 in June. That includes revenue from Maryland Live! as well as smaller facilities in Perryville and Ocean Downs. The Hollywood Casino in Perryville generated $7.9 million, while the Casino at Ocean Downs generated $4.4 million.

Maryland Live!'s management was pleased with the first month.

“The results are right in line with projections,” said Joe Weinberg, a managing partner with The Cordish Cos., in a statement. “Approximately 500,000 people visited the casino during its first 24 days of operation.”

Maryland Live! officials said the casino distributed $169 million to customers through the month.

Martino said that Maryland Lottery has shied away from making predictions on future revenue. Projecting the path for Maryland Live! is especially tricky since there will be more slots and amenities added there later this year.

“It’s obviously much too early, and we have the initial excitement of the facility we’re working through,” he said. “It’s going to take a while to see what the pattern is at Maryland Live! And by a while, I mean 18 to 24 months.”

Under agreements with the state, all casinos distribute 48 percent of all revenue to the Maryland Education Trust Fund. For June, that figure was about $19.8 million overall and $13.8 million from Maryland Live!

Maryland Live! took 33 percent of its revenue—or about $9.3 million—as its own share, with about $5 million left for local impact grants, the horse racing industry, the Maryland Lottery and minority businesses.

With Maryland Live! removed, revenue from the other casinos in the state declined by about 2 percent.

Officials in the state of Maryland have considered expanding gambling to include facilities in Prince George’s County. Proposals have called for the approval of live table games to go along with it.

A task force last month failed to reach a consensus on the issue, but Gov. Martin O’Malley has not ruled out a special session later this year.

Officials for Maryland Live! have opposed efforts to expand gambling to new sites, arguing that it would hurt their chances of getting established.

Weinberg noted that visitors to Maryland Live! have come from areas in the Washington, DC, metro area and hinted that a facility in Prince George’s County would cut into its customer base.

“Critically, they came from a very wide geographic area, with roughly half of our visitors coming from the District of Columbia, the Maryland counties surrounding DC, and Virginia," Weinberg said. "It is clear that if we are going to continue to meet the state’s expectations, we have to be able to continue to draw visitors from these areas.”

Martino, for his part, said the lottery had no stance on expanded gambling.

“Our position is that we’re going to implement the policy passed by the legislature,” he said.

djp952 July 04, 2012 at 05:39 AM
That's all well and good, but isn't Annapolis considering reducing the "tax" altogether now to foster better competition/profits between the various casinos? Perryville lost 20% since Live! (sob) opened, and P.G. so desperately wants in on this the lawmakers seem ready to do whatever it takes to promote and encourage gaming in MD, even if it means ignoring the reason it was approved in the first place. It was a crock from the start, and even now that the true colors are starting to become clear everyone still seems so happy and content that these corporations have raped our elderly and gambling-addicted neighbors in the name of schools ... ugh. I really hope it was worth it. Live! will either succeed to the extent that it sucks the life out of Hanover/Elkridge or fail so miserably that the taxpayers will be burdened for decades. Either way, it's not a good thing. Mark my words that the "benefits" never existed and this ends in tears for everyone but Cordish.
Adam R July 04, 2012 at 03:41 PM
Wait for it: here come the bulldozers to knock down the mall and expand the casino. (sarcasm)
djp952 July 05, 2012 at 05:36 AM
You jest, but which of the two entities do you honestly believe has more power and clout in Annapolis right now? It wouldn't surprise me one bit if one of those supposed bulldozers came out tomorrow and started hacking away at the mall to make room for Roulette, BlackJack and Craps tables. No, of course that won't happen tomorrow, probably ever, but you have to pay more attention to the lawmakers and how the gaming industry is working them over. We went from a state that was at best trepidacious about gaming to one that is now considering reducing taxes to foster competition among casinos, all in what -- 4 or 5 years? Nobody in their right mind can ignore how badly Annapolis has been played and how all the best intentions are now falling to the wayside. It's so sad how little foresight the people in this state have, including you my friend. Be as sarcastic as you like, it's your right, but please try to think ahead a bit and consider where this path leads before you cast your next vote. That's all I can ask of anyone in Maryland ... think first, vote second. I'm perfectly willing to be "wrong yet opinionated" because I have taken the time to form an opinion that I believe to be an informed one. Can you say the same? Folks out here on Patch I believe can say that, and it's not intended to be insulting, so let's rephrase it a bit ... can we trust that the other 99% of Marylanders have an INFORMED opinion that can be trusted? I seriously doubt it.
Frank in Elkridge July 09, 2012 at 01:41 PM
Went to the mall yesterday. Looks like they could knock down the whole mall except the movie theater, Bass Pro, and the casino, and they would do fine.
Donald Lehr July 09, 2012 at 11:31 PM
Big as that place is they could add anything they want without the bulldozers

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