Bright Predictions for the Maryland Project by MGM Resorts
Posted: August 3, 2015
Updated: October 6, 2017
The Maryland Project run by the MGM Resorts is expected to make increase the total revenues of the gambling industry in the United State
According to online gambling sites in the US the aggregate results of the gambling industry at the Las Vegas Strip, show an unexpected increase of revenues for 2 % in the first half of 2015.
The Pacquiao-Mayweather match might of course had its impact on the improved results in the industry. However the total amount of revenues on an annual level in the sector is something below USD 6 billion. That the popularity of the match was of some greater significance when this amount is concerned is something that is really unlikely. On the other side if we have in mind the fact that casinos in other states are being legalized more than even before, then the logical conclusion is that the increase of revenues at Las Vegas Strip is something that was very improbable in the first place, let alone because of the above mentioned match.
The statistical data from the past balances shows that the total revenues of the casinos have increased for only 2 % yearly amounting to USD 2.65 billion in 2014. As gambling news report, this percentage is going to be overcome in the years to come although it is not likely to be drastically changed. This optimism is due mainly to the projections concerning the famous Maryland casino project by the MGM Resorts and the improvement of the macroeconomic environment in the U.S. which are expected to contribute to the growth of the personal income in the States.
According to the surveys made by IBISWorld the disposable income per capita in the US in 2014 is USD 37,410. This income is expected to grow to USD 44,521 in 2021.What the increased personal income means for the gambling industry is that the consumers with upper income will spend more of their budget on different kind of leisure activities which naturally include gambling and other types of entertainment. The Maryland Project is the one that is predicted to take a huge piece of the personal incomes of the Americans in the years to come.
The Maryland Project of the MGM Resorts is expected to bring the first results in 2016 taking the casino revenues of MGM in general, on a higher level. Many experts in the gambling industry are convinced that the project will contribute to the increased revenues of the company that are estimated to reach incredible USD 3.5 billion by 2021. The increased profit will not be due only to the growth of the revenues but also to the increase in the EBITDA margins.
Many are surprised by these predictions and ask how this could be done concerning the situation of the gambling industry today in the US? First of all the location of Maryland is of crucial importance, since it will operate in the richest state in the U.S., where the income per capita is for almost USD 8,000 higher than the average in the United States. As online gambling news in the US stress, since it is located at Prince George’s County it is likely to suppose that it will be visited by inhabitants both of Virginia and Washington D.C.
The content that the complex will offer is another reason. Hotel with 308 rooms, divergent dinning offer, more than 160 table games, around 3,600 slot machines are just part of the offer that Maryland will provide. All this amount to the conclusion that while MGM will collect the profit from providing casino operation for a wider body of consumers, the non-gaming services that the Maryland project offers will also bring benefits to the company.
The combination of gambling and non-gambling services is more frequent than ever before in the States. It is now up to the executives of MGM to find the right balance between them and offer a unique content on the market that will fulfill the optimistic predictions about the Maryland Project.
According to online gambling sites in the US the aggregate results of the gambling industry at the Las Vegas Strip, show an unexpected increase of revenues for 2 % in the first half of 2015.
• Small growth of revenues in LV StripEven in comparison with the results from May last year, when the Strip has gained an 86 % increase due to the surge in baccarat, that led in turn to 17 % up of the total gaming revenues, the Las Vegas Strip has still made a progress for 1 %. Many online casino sites stress as a chief reasons for the growth, the increased number of passengers willing to watch the match in Las Vegas between Pacquiao and Mayweather match.
• Maryland project to contribute to increase ofrevenues
• Location of Maryland crucial for success
The Maryland project: a promising investment
The Pacquiao-Mayweather match might of course had its impact on the improved results in the industry. However the total amount of revenues on an annual level in the sector is something below USD 6 billion. That the popularity of the match was of some greater significance when this amount is concerned is something that is really unlikely. On the other side if we have in mind the fact that casinos in other states are being legalized more than even before, then the logical conclusion is that the increase of revenues at Las Vegas Strip is something that was very improbable in the first place, let alone because of the above mentioned match.
The statistical data from the past balances shows that the total revenues of the casinos have increased for only 2 % yearly amounting to USD 2.65 billion in 2014. As gambling news report, this percentage is going to be overcome in the years to come although it is not likely to be drastically changed. This optimism is due mainly to the projections concerning the famous Maryland casino project by the MGM Resorts and the improvement of the macroeconomic environment in the U.S. which are expected to contribute to the growth of the personal income in the States.
According to the surveys made by IBISWorld the disposable income per capita in the US in 2014 is USD 37,410. This income is expected to grow to USD 44,521 in 2021.What the increased personal income means for the gambling industry is that the consumers with upper income will spend more of their budget on different kind of leisure activities which naturally include gambling and other types of entertainment. The Maryland Project is the one that is predicted to take a huge piece of the personal incomes of the Americans in the years to come.
What is special about the Maryland project?
The design is inspired by Pierre Charles L'Enfant's 1791 plan for the new city of Washington, D.C.
The Maryland Project of the MGM Resorts is expected to bring the first results in 2016 taking the casino revenues of MGM in general, on a higher level. Many experts in the gambling industry are convinced that the project will contribute to the increased revenues of the company that are estimated to reach incredible USD 3.5 billion by 2021. The increased profit will not be due only to the growth of the revenues but also to the increase in the EBITDA margins.
Many are surprised by these predictions and ask how this could be done concerning the situation of the gambling industry today in the US? First of all the location of Maryland is of crucial importance, since it will operate in the richest state in the U.S., where the income per capita is for almost USD 8,000 higher than the average in the United States. As online gambling news in the US stress, since it is located at Prince George’s County it is likely to suppose that it will be visited by inhabitants both of Virginia and Washington D.C.
The content that the complex will offer is another reason. Hotel with 308 rooms, divergent dinning offer, more than 160 table games, around 3,600 slot machines are just part of the offer that Maryland will provide. All this amount to the conclusion that while MGM will collect the profit from providing casino operation for a wider body of consumers, the non-gaming services that the Maryland project offers will also bring benefits to the company.
The combination of gambling and non-gambling services is more frequent than ever before in the States. It is now up to the executives of MGM to find the right balance between them and offer a unique content on the market that will fulfill the optimistic predictions about the Maryland Project.
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