Impact studies find Baltimore casino could take 23 percent of Maryland Live's revenue
November 21, 2013
The new Horseshoe Baltimore casino, slated to open next year, could begin to swipe more than one-fifth of Maryland Live's revenues as early as the 2016 fiscal year.
The Hollywood Casino Perryville in Cecil County would take the second-largest revenue hit, around 19 percent, from the casino on Russell Street near M&T Bank Stadium, according to two studies commissioned by the Maryland Lottery and Gaming Control Agency to gauge the casino's potential impact.
Littleton, Colo.-based Custom Consulting LLC and Arlington, Mass.-based Cummings Associates found that the state's two other casinos in Allegany and Worcester counties would see only a slight impact. Rocky Gap, in Allegany, should expect a 2 percent dip and Ocean Downs in Worcester should see a drop of 0.9 percent, Custom Consulting's report said.
Even after a 23 percent drop in revenue, Maryland Live is expected to stay at the top in the state with $542.3 million in fiscal 2016. The Horseshoe is expected to generate an annual $454.4 million in revenue.
Another casino set to open in 2016 in Prince George's county was not factored into the impact studies.
Read more: http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-baltimore-casino-20131121,0,7564235.story#ixzz2lQAzvu7k
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