gambling

Dover Downs Casino Website

The profits for Dover Downs plunged during the second quarter of this year coming in at a profit of 32-thousand.

The Wilmington News Journal reports that’s up from the $184-thousand loss in the previous quarter.

Nonetheless it’s still a 96 percent decline from the same quarter last year which saw a profit of $796-thousand.

The overall revenue for the second quarter was $43 million.

There has been a drop in hotel occupancy to 85 percent in the second quarter compared with 88 percent the year before.

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BALTIMORE (AP) - State gaming officials say the opening of MGM National Harbor helped Maryland's six casinos bring in record revenue.

Maryland Lottery and Gaming said in a news release Thursday that MGM in Prince George's County generated nearly $42 million from slot machines and table games. The casino opened on Dec. 8.

Officials say that amount and the revenue the other five casinos generated in December brings the total to more than $133 million. The previous revenue record of more than $104 million was set in May 2016.

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ANNAPOLIS, Md. (AP) - Two Maryland casinos will keep a higher share of slot machine revenue when MGM National Harbor opens this week.

State lawmakers approved the added shares several years ago to help the two casinos make up for lost business after MGM opens.

Maryland Live! in Anne Arundel County will increase its share from 41 percent to 49 percent. Horseshoe Baltimore's share will rise from 39 percent to 46 percent. Those two casinos are the closest ones to MGM, which is in Prince George's County.

Dover Downs Casino Website

The parent company of the Dover Downs Hotel and Casino had a net earnings of $520-thousand during the last quarter or 2 cents per diluted share.

The Wilmington News Journal reports that this was a significant decline from this time last year when it recorded a figure of $826-thousand.

The three casinos in Delaware have been pushing for permanent tax relief from the state which takes 43 percent of the slot machine revenue.

The casinos argue that they need the break to continue to be profitable.

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It was a hot August for Maryland casinos.

State officials say they brought in over $100 million last month.

That’s 3.7 percent higher than last year at this time.

The big winner was Maryland Live Casino which raked in nearly $56 million while Horseshoe Casino Baltimore pulled in nearly $28 million.

Ocean Downs produced $6.2 million with its 800 slot machines. It does not have any table games.

Hollywood Casino Perryville brought in $5.9 million. That was a decline of 9.5 percent from this time last year.   

Dover Downs website

The numbers are out for Maryland casino revenue.

As of last month the combined state wide total was $103.8 million dollars.

That’s up five percent from last year in July.

The biggest winner was Maryland Live Casino which raked in over $60 million in revenue while the Horseshoe Casino in Baltimore produced revenue of nearly $25 million.

Hollywood Casino Perryville generated $6.7 million with Ocean Downs earning around $6.5 million.

Ocean Downs is being bought by Churchill Downs Inc. and Saratoga Casino Holdings LLC.

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Casino revenues may be up but Ocean Downs is not bringing in the kind money that had been hoped for when slots got approved.

It only brought in $56 million in revenue providing only $27 million in taxes and fees.

When the green light was given in 2009 to build the casino it was supposed to rake in $97 million by 2013 with $65 million going to the state and local governments.

The Salisbury Daily Times reports that the casino has only been able to hire half of the workforce that had been projected.

Maryland Live Casino, marylandlivecasino.com

HANOVER, Md. (AP) - The Cordish Cos. plans to break ground this fall on a hotel next to its Maryland Live! Casino.

Media outlets report that the real estate developer announced the construction schedule on Monday for the $200 million hotel. The 17-story building will be about 350,000 square feet. The company hopes to complete the building by the end of 2017.

Rob Norton, president of Cordish Global Gaming Group, says adding a resort hotel to the casino at Arundel Mills will make the state's largest casino more of a destination.

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BALTIMORE (AP) - Maryland officials say the state's casinos raked in a monthly record of $104.3 million in May.

Maryland Lottery and Gaming says the total surpassed the $103.9 million record established a month earlier. The May figure was $8 million higher than the same month a year ago.

The first of Maryland's five casinos opened in September 2010. Revenue from the casinos supports the Maryland Education Trust Fund, local impact grants, the horse racing industry, and small-, minority- and women-owned businesses.

Dover Downs Casino Website

Dover Downs raked in a profit last year earning
$763-thousand in the last three months of 2015.

Much of it was due to the late NASCAR race and cutting costs by 3 percent or $5.3 million.

The Wilmington News Journal reports that at the end of 2014 the company registered a loss of $516-thousand.

Total revenue for the fourth quarter was $46.1 million – an increase of 8.7 percent.

2015 was also the first year that the casino made an annual profit since 2013.

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