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Massive revenues by Maryland Live in the first month | 9th July 2012 : WorldCasinoYellowPages

Massive revenues by Maryland Live in the first month

... 09 July 2012

Established on June 6, in Anne Arundel County at Arundel Mills mall; Maryland Live Casino, with approx 3,171 games on its gaming portfolio has hit the lines by generating approx 70% of the states total gaming revenue in the month of June. During the facilitys first 25 days operation it has been able to bring in $28.5 million in the shape of revenues, i.e. $359.27 on daily basis per machine. Joe Weinberg, managing partner and president of gaming for the Cordish Cos. commented that a live entertainment venue would be set up and the total number of slot machines & electronic table machines could go up to 4,750 by end September whereas the casinos finishing touch would be completed by November. He added that the results for the month of June are quite satisfactory when approx 500,000 visitors had enjoyed the activities at Maryland Live Casino. James Karmel, the Harford County Community College history professor and a gaming analyst said that the record number statistics of Maryland Live suggests that it is penetrating into the business of casino-racetrack complex in Charles Town, W.Va, but still nothing could be assured on the basis of a single months output. He added that as per the standards of the industry, per-machine take of Maryland is quite strong and the casino has been able to catch the attention of lot of media and created a great image for itself. Karmel further said that Hollywood casino, situated at an hours drive north of Maryland Live is being affected by this new casino that is taking a considerable business from Hollywood table.
As per the casinos reports, an amount of approx $169 has since been paid by it in the form of winnings in the month of June, comprising $6.8 million by way of jackpots. State receives about 2/3rd of the casinos revenues in the form of taxes, approximately going to the education trust fund. Weinberg expressed that the revenues would go up considerably when all the slot machines become operative.

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