gambling

MD Casino Revenue Up

Jul 7, 2015
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BALTIMORE (AP) - State officials say Maryland's five casinos generated $91.4 million in revenue in June.

The Maryland Lottery and Gaming Control Agency said in a news release Monday that June 2015 casino revenue increased from last year by $19.3 million, or nearly 27 percent. In a year-to-year comparison excluding Horseshoe Casino Baltimore, which opened in August 2014, revenue decreased from June 2014 by $3.7 million, or 5.1 percent.

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Shareholders in the parent company of the Rocky Gap Casino Resort near Cumberland, Maryland, have approved a proposed merger with Las Vegas-based Sartini Gaming Inc.

Lakes Entertainment Inc. of Minnetonka, Minnesota, announced the results Tuesday of a special shareholders meeting held June 17.

The $128 million deal still requires approval by regulators in Nevada and Montana, where Sartini's Big Sky Gaming subsidiary operates. Maryland regulators approved the merger last week.

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BALTIMORE (AP) - Maryland casinos are cutting back on the number of slot machines to make room for more table games and other amenities.

The Washington Post reports that over the past three months, the state's three largest casinos have eliminated 1,350 slot machines. That's a 16 percent reduction in the number of slots at Maryland Live, Horseshoe Casino Baltimore and Hollywood Casino Perryville.

Dover Downs Website

DOVER, Del. (AP) - Dover Downs Gaming and Entertainment narrowed its first-quarter loss compared to last year but says further cost-cutting is needed.

The company on Thursday reported a net loss of $352,000, compared to a $1 million loss for the first three months of 2014. Revenues dropped from about $45.5 million to slightly more than $44.3 million.

The company said it will stop offering unprofitable table games at its Dover Downs casino between 2 a.m. and 8 a.m. Monday through Thursday, starting May 18, resulting in the elimination of 24 positions.

Don Rush

NEW CASTLE, Del. (AP) - A panel exploring how to make Delaware's revenue portfolio less unpredictable and more reflective of economic conditions is taking a close look at the state's reliance on abandoned property collections and lottery revenue.

Friday's meeting of the Structural Revenue Review Committee includes a background examination and outlook at the abandoned property, or escheat system.

The panel also will look at the bank franchise tax system, as well as lottery and casino gambling.

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HAGERSTOWN, Md. (AP) - The owner of the Rocky Gap Casino Resort in western Maryland says shareholders will benefit tremendously from the company's planned merger with a privately held Nevada casino operator.
 

Don Rush

BALTIMORE (AP) - The director of Maryland's lottery and gaming agency is cashing in his chips.

Stephen Martino, who heads the state's Lottery and Gaming Control Agency, told staff in an email that he was resigning and his last day would be March 27. He plans on taking a job as a partner in the Baltimore office of law firm Duane Morris.

Martino was appointed to his position by former Gov. Martin O'Malley in 2010. Prior to his appointment, he served as the executive director of the Kansas Racing and Gaming Commission.

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A Delaware state has recommended providing a $46 million bailout for the First State’s gambling industry.

The plan to stabilize the Delaware’s three casinos came as a shock to some on the state’s Lottery, Gaming and Study Commission.

Where the money would come from as the budget battles heat up in Dover is still not clear.

House Majority Leader Valerie Longhurst who is also a member of the panel…called the proposal “an annual tradition that is not sustainable.”

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DOVER, Del. (AP) - A state panel charged with helping find a path forward for Delaware's gambling industry is meeting again after missing last week's deadline to submit recommendations.

Members of the panel, which recommended a $10 million casino bailout approved by lawmakers last year, were to meet Thursday to get updates on the state's most recent revenue forecast and on Delaware's horse racing industry, which gets a cut of gambling revenue.

The panel also was scheduled to discuss recommendations regarding further relief for Delaware's three casinos.

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Dover Downs is looking at some tough times.

Regional casino competition has doubled over the last few years while the bank demanded the casino’s mortgage as collateral when the gambling outfit recently refinanced $42 million of debt.

Meanwhile, its stock price has dropped to 72 cents after hovering around 30 dollars a share.

And it has the largest tax burden in the region at 43.5 percent.

After spending $283 million to building the casino and expand the casino over the last 18 years the owners say they are now fighting for their financial lives.

Don Rush

DOVER, Del. (AP) - A state panel that recommended a $10 million financial bailout for Delaware's three casinos earlier this year has reconvened to figure out what, if anything, to do next to help the state's struggling gambling industry.

The gambling study commission, which met Thursday, is charged with studying challenges facing Delaware's gambling industry and recommending ways to help the state remain competitive in a region that is becomingly increasingly saturated with casinos.

Don Rush

DOVER, Del. (AP) - With lawmakers already having approved a $10 million financial bailout for Delaware's three casinos earlier this year, a state panel is reconvening to figure out what to do next regarding the struggling gambling industry.

The state gambling study commission, which recommended the bailout, is scheduled to meet Thursday to resume its work. The panel is charged with studying the competitive marketplace facing Delaware's gambling industry and recommending ways to address it.

casino website

BALTIMORE (AP) - The opening of Baltimore's first casino highlights a nationwide trend of casinos moving from traditional gambling destinations to other cities.

The Horseshoe Casino in downtown Baltimore opened its doors Tuesday night. A spokesman for an agency representing the casino said it hosted more than 15,000 guests in its first 12 hours.

Gambling experts say rust-belt towns like Philadelphia, Cleveland and now Baltimore have become desirable casino locations, especially as gambling destinations like Atlantic City continue to plunge into economic decline.

Horseshoe Casino Baltimore website

BALTIMORE (AP) - The Horseshoe Casino Baltimore is scheduled to open, marking a new milestone in Maryland's development of casino gambling.

The casino set to open Tuesday is the fifth and last of the five casinos initially planned when lawmakers approved slot machine gambling in a 2007 special session, a plan later approved by voters in a statewide vote in 2008.

The Baltimore casino will be home to 2,500 slot machines and 122 table games like blackjack.

bmoremedia.com

BALTIMORE (AP) - The Horseshoe Casino Baltimore is scheduled to open in late August.

Casino officials say the $442 million casino is scheduled to open on the night of Aug. 26, pending regulatory approval.

The casino will feature 122,000 square feet of slot machines and table games like blackjack. It also will have two celebrity chef restaurants and a steakhouse. The facility will have about 2,500 slot machines and 100 table games. It also will have a World Series of Poker-branded poker room.

Casino officials say it will employee about 1,700 people.

Don Rush

DOVER, Del. (AP) - Senate lawmakers have approved a $10 million financial bailout for Delaware's three gambling casinos.

The Senate voted 14-5 Wednesday on legislation to help the casinos, which say they are struggling with increased competition from neighboring states and have to share too much of their gambling revenue with the state.

The bill, which now goes to the House, calls for the state to help pay vendor costs for slot machines that currently come out of the casinos' share of gambling revenue.

Don Rush

DOVER, Del. (AP) - Delaware lawmakers are poised to introduce proposed revisions to gambling laws that could cost the state more than $20 million a year.

Finance secretary Tom Cook told an industry panel Tuesday that a bill revising how Delaware's three casinos share gambling revenue with the state will be introduced this week.

The legislation is based on recommendations from a study commission led by Cook that discussed how to help Delaware's casinos as they struggle with competition from neighboring states.

Don Rush

DOVER, Del. (AP) - Members of a panel examining how to keep Delaware's gambling industry competitive say they need more time to submit a report to lawmakers.

The commission was to submit its findings and recommendations on Friday.

But state finance secretary Tom Cook, the panel chairman, disclosed Thursday that members now expect to complete their work by Feb. 28.

A key issue for the panel is how much of a hit the state general fund should take in order to give a financial break to Delaware's three casinos.

Don Rush

DOVER, Del. (AP) - A panel examining how to keep Delaware's gambling industry competitive has yet to decide on recommendations for state lawmakers to consider.

The lottery and gaming study commission, which faces a Jan. 31 deadline to submit its report, met Monday to review several options, but members could not agree on any of them.

Several commission members noted that they are still awaiting a report from the accounting firm KPMG on the current status of Delaware's gambling industry.

Don Rush

DOVER, Del. (AP) - Members of a state panel looking at Delaware's gambling industry amid increasing competition from neighboring states is reviewing a report on the feasibility of allowing more casinos in Delaware.

Lawmakers established the lottery and gaming commission earlier this year to examine the competitive marketplace facing Delaware's gambling industry. The panel, which meets Wednesday at Legislative Hall, is facing a Jan. 31 deadline for reporting its findings and recommendations to the governor and General Assembly.

Don Rush

BALTIMORE (AP) - A Maryland panel has found that three applicants are suitable to pursue a license to open a casino near the nation's capital.

The Maryland Lottery and Gaming Control Commission unanimously made the decision on Thursday.

The applicants are Prince George's Racing Ventures, LLC, a subsidiary of Penn National; Maryland Casino, LLC, a subsidiary of Greenwood Racing, and MGM National Harbor, LLC, a subsidiary of MGM.

Don Rush

Maryland gambling revenues may be hitting a ceiling soon with total take at $71 million in gross revenue in August.

Mark Nichols, an economics professor who specializes in the gambling industry at the University of Nevada in Reno says, don’t expect that expansion to continue.

There will be more competition in the next three years from the state’s two new casinos in Baltimore and Prince George’s county over the next three years.

Don Rush

DOVER, Del. (AP) - Representatives of state's gambling industry say times remain tough as Delaware's casinos cope with competition in neighboring states.

Representatives of Delaware's three casinos gathered with state lottery officials and industry suppliers on Tuesday at a meeting of the state Video Lottery Advisory Council.

Dover Downs CEO Ed Sutor said his company has seen a sharp drop in table game business and that Delaware casinos will be paying higher fees to suppliers of slot machines under new contracts that are still being negotiated.

Don Rush

DOVER, Del. (AP) - Representatives of Delaware's casino industry are gathering to discuss the state of Delaware's gambling industry.

The state Video Lottery Advisory Council was to meet Tuesday at Dover Downs.

The agenda includes a review of the competitive situation with Maryland and Pennsylvania, Delaware lottery initiatives, and manufacturers' new products.

State lawmakers recently approved a proposal by Gov. Jack Markell to extend an $8 million financial bailout for Delaware's three casinos to help cover anticipated increases in slot machine vendor costs.

Ocean Downs Casino Website

Gamblers could be spending some late nights at Ocean Downs.

The Casino says it will be open 24 hours a day in coming summer months beginning Friday and running through September 30th.

Maryland voters approved the operating hours as part of last year’s referendum.

And the Gaming Control Commission approved the Worcester County casino’s application to offer slots around the clock.

However, liquor sales will stop at 4 am for four hours.

 

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BALTIMORE (AP) - Maryland casino regulators may allow gambling at the Rocky Gap Lodge & Golf Resort in western Maryland to begin May 22.

The Daily Record of Baltimore reports that the Maryland State Lottery and Gaming Control Commission is considering an operations license for resort owner Evitts Resort LLC at its meeting Friday in Baltimore. Evitts is a subsidiary of Minnetonka, Minn.-based Lakes Entertainment Inc.

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ANNAPOLIS, Md. (AP) - Campaign finance reports show more than $93 million was raised in the campaign to expand gambling in Maryland, a record amount.

The Washington Post reported Wednesday that campaign finance records show a handful of Washington's biggest media buying firms and Maryland political consultants benefited handsomely from the fight over the ballot question to allow table games like blackjack and a casino in Prince orge's County.

The reports show about $90.5 million was spent. Nearly $3 million went unspent.

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ANNAPOLIS, Md. (AP) - The University of Maryland School of Medicine says it has received a $5 million grant from the state to create a problem gambling center.

The university made the announcement Thursday. The center is being called a first of its kind in the state. A telephone helpline service to refer problem gamblers to treatment and a public awareness campaign are planned by the new center. Two annual statewide conferences, eight regional conferences and webinars to create a statewide network of health providers to help problem gamblers are also planned.

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MARYLAND

ANNAPOLIS, Md. (AP) - MGM Resorts International has spent about $8.4 million for advertising to support an expansion of gambling.

The Las Vegas company's latest report released Tuesday is about $3 million more than its last report released four days ago. MGM is hoping voters will approve an additional casino site in Prince George's County, near the nation's capital.

Governor Martin O'Malley, Website

ANNAPOLIS, Md. (AP) - Gov. Martin O'Malley has signed a measure to allow table games like roulette at casinos and a gambling venue in Prince George's County.

The governor signed the bill Wednesday, hours after a special session ended after midnight.

The Democratic Governor says the second special session of the year has created a comprehensive solution to a number of issues that were affecting Maryland's gaming industry and its ability to compete with surrounding states.

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