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\tBALTIMORE (WJZ) \u2014 Disappointing results. Baltimore\u2019s new Horseshoe Casino falls millions of dollars short in its first few months of revenue. There\u2019s concern the city will see a lot less of its cut.
\n\tChristie Ileto explains why communities are counting on those funds.
\n\tMaryland\u2019s five casinos generated $90.2 million in November, a 35 percent increase over the same month last year. But, Horseshoe casino has been struggling to meet expectations.<\/p>\n
\t\u201cI am very surprised being that it\u2019s usually really crowded,\u201d said Gina, a casino regular.
\n\tExperts thought Horseshoe would make up to $35 million a month. In reality, they\u2019re making $22 million, which is less than half the $53 million its competitor, Maryland Live made in November.
\n\tCasino officials said they\u2019re confident it will gain momentum.
\n\t\u201cWell obviously we\u2019re disappointed,\u201d Ben Hyman with Horseshoe Casino said. \u201cAs long as they\u2019re open we\u2019re gonna see a percentage of their revenue\u2026 this time it might be a little bit down, but going forward we can count on that revenue every year.\u201d
\n\tNeighborhoods like Pigtown are counting on the casino\u2019s success. The concern is if the casino\u2019s profits fall short, it could mean less funding for community improvement projects in surrounding communities. These funds would go towards street cleaning, lighting and public safety.
\n\t\u201cWhen you\u2019re in business, the first five years is hard anyway,\u201d said Gina, a local business owner.
\n\tNearby businesses say the shaky start is temporary.
\n\t\u201cYou gotta give it a chance, give it a chance,\u201d Gina said.
\n\tThe Maryland Live! Casino in Hanover generated the most revenue last month, at about $53.8 million. That\u2019s a .7 percent increase over the casino\u2019s revenues from last November.
\n\tRevenue at Hollywood Casino Perryville, about 34 miles north of Baltimore, dropped about 7 percent.
\n\tMaryland\u2019s sixth casino is scheduled to open at National Harbor in 2016.<\/p>\n
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BALTIMORE (WJZ) \u2014 Disappointing results. Baltimore\u2019s new Horseshoe Casino falls millions of dollars short in its first few months of revenue. There\u2019s concern the city will see a lot less of its cut. Christie Ileto explains why communities are counting…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8399","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8399"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8399\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}