It’s been a busy year in the casino industry, with six major new commercial casinos opening their doors since the beginning of January and at least four more scheduled to open in the coming weeks.
Casino Miami Jai Alai opened January 23, adding some 1,030 slot machines to a market that now has about 6,400 machines across six pari-mutuel slot facilities. Through April, the casino’s slots generated $14,091,236 in net revenue. Overall, the South Florida slot market has grown with the addition – revenues increased by 20.6 percent in February, 21.7 percent in March and 7.8 percent in April. The casino at Pompano Park was by far the strongest performer over those three months. All other casinos grew revenues in February and March, despite the new competition from Casino Miami Jai Alai, but Calder, Gulfstream and Mardi Gras declined significantly in April. It’s really too early to tell how the market will settle – seasonal factors are important in this market, and March is usually the best month for all South Florida casinos.
Hollywood Casino at Kansas Speedway opened February 3. Competing with casinos in the greater Kansas City market in neighboring Missouri, the casino has brought in $35,335,789 in net win through April. It has the most gaming positions of Kansas’ three casinos, but its revenue lags behind Kansas Star near Wichita, which opened in late December in a new market.
Valley Forge Casino Resort opened on March 30. Located just outside the Philadelphia market, the casino has 600 slot machines and 50 gaming tables. Through April, the casino generated $4,535,085 in net revenue from its slot machines and $2,594,715 from its tables.
Revel opened on a limited basis in Atlantic City on April 2. The long-awaited $2.4 billion resort didn’t help overall gaming revenue in the city during its first month, but the casino is planning its official grand opening with all wheels spinning this weekend. Revel’s April gaming revenues were $13,469,258, ranking it eighth out of 12 casinos. Citywide gaming revenues in April dropped 10 percent compared to last year.
Horseshoe Casino Cleveland opened May 14, the first of many to come, including racetrack casinos, in Ohio. It will likely have some impact on casinos in Western Pennsylvania.
Jimmy Buffett’s Margaritaville Casino and Restaurant opened May 22 in Biloxi, Miss.
Hollywood Casino Toledo opens May 29, to be followed by the casino at Scioto Downs in Columbus on June 1. The latter will be the first of the racetrack gaming operations to open – the others are awaiting final resolution of a lawsuit against Ohio's video lottery terminal program.
Maryland Live! Casino at Arundel Mills, south of Baltimore, opens June 6; it will be by far the largest slot casino in Maryland to date.
And finally, Maine’s Oxford Casino is expected to open sometime in June.