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Maryland Casinos Win Record Monthly Total, MGM National Harbor Back on Top
But when MGM s March revenue is subtracted, Maryland s five casinos actually saw gaming income decrease eight percent. Maryland Live saw its revenue drop by 14.6 percent, and Horseshoe Baltimore lost 2.4 percent. Combined, the two properties lost over $8.6 million.
While MGM and its supporters will see the bright side in that Maryland s total gaming revenue grew by $43.3 million, those who are paying the price, specifically Maryland Live, won t be sharing in the excitement.
With its new competition from MGM roughly 35 miles south, Maryland Live is investing heavily in its property to better position its marketability. Locally owned by the Cordish Company, a private real estate developer based in Baltimore, the casino announced in 2016 that it would be investing $200 million to construct a with 310 guestrooms.
For comparison, and to highlight the bitter turf war, MGM National Harbor has 308 rooms.
Construction on the tower has begun, and to cater to overnight guests in the meantime, Maryland Live purchased a nearby Hilton Garden Inn and Homewood Suites last fall. The hotel has since been rebranded as the Live Lofts, and offers free shuttle service to and from the casino.
Maryland Live is catering to the more blue collar crowd. A room tonight is booking for $130 at Live Lofts, while National Harbor is sold out at rates that ranged everywhere from $399 to $529.
