Maryland Live Back on the Top After Using Wind Out of MGM Nationwide Harbor’s Sails

Maryland Live Back on the Top After Using Wind Out of MGM Nationwide Harbor’s Sails

Maryland Live is once again the top casino in their state after the Arundel Mills resort generated more gaming revenue during the thirty days of February than its new rival MGM National Harbor.

Maryland Live, billed as the family friendly casino compared to MGM National Harbor, saw the most gambling money come through its doors during February.

Collectively, the state’s six casinos pulled in $128.7 million in gross gaming win, Maryland’s second-best performance that is all-time. The record mark came in December after the opening that is grand of Harbor led to a win of $133.5 million.

Maryland Live’s revenue totaled $46.29 million month that is last narrowly edging MGM’s property that sits just outside Washington, DC, at $45.77 million. The two casinos represented the lion’s share of gaming income, with Horseshoe Baltimore coming in a distant third with $22 million.

Three smaller gambling that is regional, Hollywood Casino Perryville, Rocky Gap Casino Resort, while the Casino at Ocean Downs, posted a combined $14.6 million.

The Cordish Companies, the parent organization of Live that is headquartered in Maryland, credited its ‘family approach’ for the home retaking the top spot. The group also says being locally owned allows it to provide a better experience to customers, in what’s certainly a slight jab at MGM in a statement.

Mixed Outcomes

The February gambling report represents a 38 percent i (more…)

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Paddy Power Betfair Revenues Soar But Merger Costs Hurt Bottom Line

Paddy Power Betfair Revenues Soar But Merger Costs Hurt Bottom Line

Paddy Power Betfair on Monday reported revenues had been up by 89 percent during its first year as a merged business, despite costs associated with the merger that ultimately dragged straight down its important thing.

Paddy Power Betfair chief Breon Corcoran is bullish about the company’s prospects. The integration of the two betting giants was running in front of schedule, he said.

While revenues soared to £1.5 billion ($1.83 billion) in 2016, these numbers had been tempered by one-off merger-related payments of £116 million ($141 million), which weighed heavily on its operating profits.

These were down to £15 million ($18 million) from £125 million ($152 million) a year early in the day.

Since Paddy Power and Betfair only finalized their £7 billion ($8.5 billion) merger in February 2016, of course, comparative figures for 2015 have already been calculated as if they were merged entities in that 12 months.

Online Betting Monster

Paddy Power and Betfair created one of the greatest, or even the biggest, online gambling powerhouses in the world when they agreed terms to join forces in September 2015.

And Breon Corcoran, chief executive of the company that is enlarged said Monday that the utilization of the merger, and the integration for the two organizations, ended up being ahead of routine.

‘2016 had been a transformational year for Paddy Power Betfair with a lot of the integ (more…)

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