Neither casino has an adjoining hotel, although Maryland Live's owners say they are planning one. Horseshoe and Maryland Live declined to comment on the impact of MGM's entry into the market. Still, Martino said: "It seems certain there is going to be some impact to Maryland Live and maybe Horseshoe as well." Also, Maryland Live has not suffered the level of revenue losses expected from the arrival of Horseshoe, which opened last August. The region has a bigger appetite for table games than originally believed. "Clearly, the market has developed in ways that weren't fully anticipated," said Martino, now an attorney with Duane Morris in Baltimore. The study was conducted in December 2013, before MGM was awarded its site license, and "there is so much that has changed," said Stephen Martino, former director of the Maryland Lottery and Gaming Control Agency. Horseshoe, smaller and a little farther away, is predicted to see smaller declines.Ī study by Colorado-based consultant Jim Oberkirsch predicted Maryland Live could lose 23 percent of its revenue and Horseshoe 14 percent. Analysts forecast that Maryland Live, the state's largest casino, could see some revenue declines once MGM opens.
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