MGM Resorts International's stock was down roughly 28% Friday afternoon when compared to where it was a year ago. Oddly, stock prices don't reflect the positive trends. Voisin/The Washington Post via Getty Images) The Poker Room at Live! Casino Hotel Maryland. It was only bested by the $14.35 billion reported for the last three months of 2021, according to the American Gaming Association. gaming revenue reported for the first three months of this year was the strongest start to any year in reporting history.

While the sprawling property's revenue haul scaled back slightly to a little more than $60 million in June, it's still considerably more than it was for several months in the property's opening year in 2019, when the resort often brought in revenue below the $50 million mark.įurther south in Maryland, the Old Line State's casino industry - which is dominated by MGM National Harbor outside Washington, D.C., and Live! Casino Hotel Maryland in the Baltimore suburbs - reported its best year ever in 2021.įor more TPG news delivered each morning to your inbox, sign up for our daily newsletter. The nearly $65 million in gross gaming revenue Encore Boston Harbor - Wynn Resorts' $2.6 billion casino just north of downtown Boston - collected in March was the resort's largest amount earned in any month since opening, according to the Massachusetts Gaming Commission. The reality today is quite different, with several of these new resorts seeing their best financial performance to date. at least, that was the thinking only a few years ago. A crashing wave of casino resort development up and down the East Coast cannibalized the finite pool of customer revenue that exists in the U.S.

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