December A Loss For Maryland's Casinos
BALTIMORE (WJZ) -- It's a disappointing end to the year for Maryland's casinos. With revenues down, the portion that goes to local communities has also shrunk.
Now some wonder if the casinos' luck is running out.
Christie Ileto has more on the downward trend.
December was the first time Maryland's five casinos did not set a new record.
People play to get lucky, but December proved no such luck for Maryland's five casinos. New numbers reveal about a $5 million dip in profits from November to December.
Is the winning streak over?
"I don't see it that way," said Rob Norton, president of Maryland Live! Casino.
Excluding the newly opened Horseshoe Casino, state revenues were down 3.6 percent compared to this time last year, but jump more than $20 million when Baltimore's gem is factored in.
In the last year, Maryland Live saw an 11 percent boost to its bottom line, but was not immune to the December slump.
"December is one of our slower months in the casino industry, so we would normally expect a slow down from November to December," said Norton.
Dee is a casino regular.
"People have to spend money on children for Christmas and whatnot. They don't have money to spend like that," she said.
At Horseshoe Casino, profits again fell short of the monthly projection of $35 million.
"This year might be a little bit down, but going forward we can count on that revenue every year," said Ben Hyman, Pigtown Main Street.
Areas like Pigtown bank on the casino's success to fund projects like street cleaning and better lighting.
Still, 2014's shaky finish is just part of the game, betting time will show Maryland's casinos are a steady return.
Maryland's sixth casino, the MGM National Harbor, will open next year near Washington, D.C.
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