'According to Wall Street, the shoe's about to drop, and they're about to get killed by a recession. Wynn Resorts stock was also down nearly 28%, and Caesars Entertainment was down more than 50%. 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. One more casino resort may be issued, though there has been no announcement yet.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.

A slot parlor opened at Plainridge Park Casino in 2015, and MGM and Encore are two casino resorts. In 2011, the Expanded Gaming Act passed in Massachusetts, allowing as many three casino resorts and one slot parlor to be opened in the state. It cost $960 million to build, according to The Boston Globe, and has 250 rooms, nearly a dozen food and beverage outlets and a 125,000-square-foot casino. In August 2018, MGM opened a 2 million-square-foot casino resort in Springfield, Massachusetts, about 90 miles from Boston. The resort planted 1,000 trees and plenty of floral as well as sculptures. The Harborwalk, opening the same day, is a park that opens the shoreline to the public for the first time in more than a century, according to Encore.

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