MGM National Harbor that entered the Maryland casino market nine months back is continuing growing business while taking away the business from its other Maryland competitors.
MGM National Harbor reported $52.8 million revenue, a $50 million in monthly revenue for the fifth time in August. The casino is outperforming all the other five casinos in the state, as per the figures released by the Maryland Lottery and Gaming Control Agency on Wednesday.
In total all the casinos generated $137 million, down by $3.7 million from March. However, the figures were up by $37.1 million from the same period last year, before the opening of MGM in December 2016. If MGM figures are removed, the other five casinos saw a decrease in revenue by 15.7 percent.
The significant monthly decline was experienced by the MGM’s biggest rival, Live Casino & Hotel in Hanover with August revenue of $44.7 million, down by 19.9 percent and Horseshoe Casino Baltimore with a decline by 21.3 percent to $21.8 million from last year.
According to the Analysts, MGM property has an advantage of its destination, which is very near to a popular tourist destination in Washington.