It’s pretty clear that the casino industry is entering its second recession in 10 months and too soon to know if the ‘skinny’ stimulus will bring a January boost. One of the most reliable markets in the U.S., Maryland plunged 20% last month. The gross was $119.5 million. JP Morgan analyst Joseph Greff pins the declivity upon both an upsurge in Covid-19 cases and consequent restrictions in casino capacity (25% at the big three). “We expect a similar trend to play out in other regions, which points to a retrenchment,” Greff added. Market share was dominated by MGM National Harbor (41%) and Maryland Live (above, 36%). MGM had a 28% falloff in high-priority table revenue and shed 18% at the slots, for a total haul of $58.5 million.
Maryland Live slipped 17% to $43 million while Horseshoe Baltimore posted an anemic $13 million, a 32% plummet. Small wonder Penn National Gaming recently re-acquired Hollywood Perryville. It was actually up 8.5% to $6.5 million. Ocean Downs was down 10% to $5 million and Rocky Gap Casino tumbled 16% to $3.5 million. Final West Virginia tallies aren’t yet available but the week-to-week tracking of revenue indicates that their results will make Maryland casinos look flush.