There is no replacing the excitement of Las Vegas, but a lot of locals in Maryland are finding that they can get their fill of gaming right at home. That's part of what's led to some impressive revenue returns for the five casinos in the state of Maryland.
With the calendar flipping to April, the reports on the March revenue numbers are in and they are quite impressive. Maryland casinos saw nearly $98 million in revenue in March, which is the second-biggest number the state has even seen ever in a single month. That high watermark was set in July of 2015 when the state pulled in a whopping $98.9 million in revenue.
A lot of people are happy with the March report not only because it was nearly a record-setting month, but the year-over-year growth creates a healthy trend line. Compared to March 2015, the state saw growth of 7.5 percent, which translates to $6.82 million.
The leader of the pack was the Maryland Live! Casino in Hanover, which produced $54.6 million in March. When crunching the numbers, it's pretty clear that it's the first choice for local gamblers. That casino alone produced more than half of the total revenue for the entire state in March.
The bulk of their action comes in from table games as well as blackjack, poker and other games where bettors go against the house. Those games alone produced just under $4,000 per day for the casino.
While the Maryland Live! Casino produced the biggest overall number, it was actually Horseshoe Casino Baltimore that led the way in terms of growth. They generated $27.6 million in March, which marked an 11.9 percent increase year-over-year. That was the largest increase of any of the casinos.
They were helped out by the fact that they hosted the World Series of Poker circuit event, which attracted a number of players from all over the United States. They're under the Caesars umbrella, which acquired the series in 2004, and that's why they're able to host such events.
The Casino at Ocean Downs was second in terms of year-over-year growth, delivering an 11.5 percent bump in March, which translated into $4.5 million in revenue. As for the Maryland Live! Casino, they weren't too far behind as they still saw growth of 5.2 percent.
In terms of the overall revenue, the Horseshoe Casino Baltimore, which is located in Baltimore City, delivered $27.6 million, the Hollywood Casino Perryville brought in $7 million, Casino at Ocean Downs did $4.5 million and the Rocky Gap Casino Resort generated $4.1 million.
Casino gaming revenues are in a really good place right now in Maryland as March marked the fourth straight month that we've seen growth. Each of the casinos saw year-over-year growth and analysts are pointing to the fact that the economy is doing really well right now. As a result, people have more disposable income to work with.
And in case you missed the national story about the Maryland casinos from last month - specifically Maryland Live! - rapper Fat Trel was busted for using counterfeit money at the casino. Had he been using authentic currency, maybe their monthly report would have been even stronger.