Significant Casino Revenue for the Month of July for the State of Maryland with Increase of 33.6%
Maryland reported its generated revenues for the month of July showing a significant increase of 33.6%. Compared to the same month last year revenues generated were sitting at $103.8 million. MGM National Harbor established itself as one of the leading casinos in the state generating $50 million of the total earned revenues every month for the last four months, from March through July.
CEO for MGM Resorts International Jim Murren commented on the news saying, “National Harbor couldn’t be doing better from our perspective and is perfectly positioned to ultimately be owned by MGP.” Murren also mentioned the upcoming sale of the MGM Growth Properties LP.
Maryland Live used to be the state’s bread winner, so to speak, but has seen consistent declines since the MGM opened its doors. Last month, revenues decreased 22.5% to $46.8 million. The casino is looking to spend close to $200 million for expansion with its property including a 17-story hotel, new retail shops and restaurants.
Seven months of consecutive growth has returned for the state despite the above figures. January 2017 seen the biggest return with an 42.8% increase compared to last year’s results.