![]() ![]() The main urban casinos are Horseshoe and Maryland Live, which own 74% of state’s total slot machines and almost all the gaming tables. Maryland currently has five casinos, three in rural locations. “Maryland has too many casinos in too close an area,” said Alan Woinski, president of Gaming USA Corp., which publishes an industry newsletter. MGM is expected to take 7% of Horseshoe’s business and 16% of Maryland Live’s in 2019, according to a December 2013 study by Cummings Associates, a consulting company commissioned by the state gaming agency. With the opening of the MGM National Harbor in Prince George’s County next year, the competition will get even more intense. Horseshoe Baltimore has yet to meet revenue projections. In the past 10 months, Maryland Live’s market share has dropped to 60%. Maryland Live’s market dominance was challenged by Horseshoe Baltimore, a similar-sized gaming facility which opened 13 miles away near downtown Baltimore in last August. Maryland Live, the largest casino in the state, accounted for 76% of the state’s total casino business in 2014, with its 4,200 slot machines and 189 gaming tables, according to the Maryland State Lottery and Gaming Control Agency. But for casino operators, surviving and prospering becomes increasingly challenging in a climate of fierce competition. Maryland’s casino industry has been growing at a double digit pace since casino table gaming was legalized in 2012. ![]()
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