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Perryville Rakes in More Than $11 Million Last Month

Posted on November 8th, 2010

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As the only casino operator in the state of Maryland for now, the Hollywood Casino in Perryville is capitalizing on this advantage. Last month, the facility has been generating a huge profit, with revenues reaching almost $11.4 million. These figures can be attributed to the close to 167,800 visitors just in the month of October, when the facility finished its first full month of operation. The casino also reported that it has raked in perhaps the highest take per slot machine than most, if not all competitors in the surrounding states. The gambling facility, located in Cecil County is home to 1,500 slot machines. Each slot machine averaged $245 per day per machine last month as reported by the Maryland Lottery last Friday. That figure has been slightly higher compared to slots casinos across the state borders of Maryland, where operators there even have an advantage: they are allowed to offer poker and blackjack aside from slot machines. As with the Perryville facility, it is the first of five locations in the state of Maryland where slots parlors have been licensed to operate.

An analyst and partner at Union Gaming Group a firm based in Las Vegas, Grant Govertsen, said, “To see them doing so well out of the gate is a great sign. The firm had released a positive yet conservative estimate for the casino’s daily revenue of $180 per machine for the fourth quarter, from October to December. He regards the win of more than $200 every day as a “sweet spot” that every casino operator aims for. As of the moment, Govertsen claimed that the Perryville facility has acquired “temporary monopoly” in Maryland. This may change as Anne Arundel County is revving up for their slots facility after a zoning decision was upheld in last week’s referendum. Hollywood Casino Perryville even gained a higher average daily take when it opened in September and the last four days. Calculations amounted close to $346 for every machine. Analysts of the gambling industry stated that this strong showing early in its opening was not really that surprising as new casinos are usually expected to attract large crowds. But the fact that this particular casino was able to sustain most of the momentum was definitely welcome news to an industry that is still finding its footing after a huge downturn for the past two years.

The general manager of the Perryville facility, Himbert Sinopoli, explained that the casino’s good revenue for October is still in line with expectations. He also noted that the coming fourth quarter may be slower, as it is generally expected that October to December are slow months in the industry. He also gave a profile of the customers in his casino; he claims that it is a mix of customers that have been coming back and new patrons that have come from other parts of the state, as well as others from the neighboring areas of Pennsylvania, Delaware, Virginia and even as far as New Jersey. He remarked, “Business is really consistent in how a normal casino operation would be at this point. The Perryville facility will face some form of competition at least within the state as a casino at Ocean Downs racetrack on the Eastern Shore is expected to open before the end of the year. As for the other facilities, the slots parlor next to Arundel Mills mall may have to take a year. With this, Baltimore developer David Cordish has impatiently suggested a temporary slots facility in the area would be in tow, just so that the revenue won’t be wasted.

The continued success of the Perryville facility has even more appreciated as nearby states, have more developed gambling industries and have more expanded facilities that feature table games, something that the Maryland casinos, as of the moment, do not have. For example, the Hollywood Casino at Charles Town Races in West Virginia, averaged $20 dollars less at $227 daily per slot machine for its 5,000 slot machines. Three Delaware racetracks that cumulatively operate close to 6,900 slot machines have about $223 daily per machine in October, with data from the Delaware Lottery. On the other hand, Pennsylvania casinos with almost 27,000 slot machines has generated close to $237 every day per machine last month, the Pennsylvania Gaming Control Board said.