slot machines

Jeff Kubina / creative commons

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.

Dover Downs Website

For the first time in four years Dover Downs has seen an increase of 1.6 percent in net revenue over 2014.

Most of that increase came from slot machines.

After a phone call with investors CEO Denis McGlynn told the Wilmington News Journal that at this point, “we’ll take it any way we can get it.”

But he cautioned that this was only the first quarter that there has been an increase in gaming revenue after 34 quarters of decline.

McGlynn suggested that the availability of comp rooms this year was a factor.

creative commons

Maryland casinos raked in around $87 million last month.

That’s a nearly 6 percent increase over the same month last year.

In Anne Arundel County Maryland Live Casino pulled in the most at nearly $50 million or an increase of nearly 9 percent over the same period last year. 

The Casino at Ocean Downs saw a 15.4 percent increase over last year garnering $5.7 million.

Rocky Gap Casino Resort also saw a pickup in revenue of 6.2 percent or $3.9 million.

Hollywood Casino Perryville pulled in $5.1 million for an increase of 6.2 percent.

jeff kubina / creative commons

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.

Jeff Kubina / Creative Commons

ANNAPOLIS, Md. (AP) - The Maryland Board of Public Works has approved a contract renewal for the state to spend up to $200 million to lease and maintain slot machines over five years.

The board voted 2-1 Wednesday, with Gov. Martin O'Malley and Treasurer Nancy Kopp voting in favor of the renewal. Comptroller Peter Franchot voted against it.

Maryland law initially required the state to own slot machines at the state's five casinos. However, the law was changed in 2012.

Next March, three of the state's casinos will acquire their own slot machines.

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.

Don Rush

DOVER, Del. (AP) - Delaware officials say competition from casinos in neighboring states continues to squeeze revenues at Delaware's three casinos.

The Delaware State News reports that the Video Lottery Advisory Council met for the second time this year to discuss the state of the gambling industry.

Don Rush

DOVER, Del. (AP) - A bill providing a financial bailout to Delaware's three gambling casinos is poised for its initial vote in the state legislature.

The state Senate was scheduled to vote Tuesday on a bill to help the casinos, which have bemoaned competition in neighboring states and the share of gambling revenues they have to give to Delaware's general fund.

But a bailout plan that could have cost taxpayers about $20 million a year will be scaled down before Tuesday's vote to about half that amount.

Pages