MGM National Harbor Top Grossing Ex-Nevada Casino

MGM Resorts International (NYSE: MGM) isn’t simply the largest operator on the Las Vegas Strip. It runs some of the biggest regional casinos in the US, including MGM National Harbor in Oxon Hill, Md.

In 2022, that locus was the highest grossing gambling casino alfresco of Battle Born State in the country, eking yesteryear Resorts World New House of York in Queens for that distinction. Helped past the strength of National Harbor, the Maryland/Washington, DC gambling casino securities industry nudged yesteryear Chicago/Southern IN for the third blob among US gambling casino markets in terms of 2022 144 gaming revenue, trailing only if Las Vegas and Atlantic City.

At the property level, MGM National Harbor inward Maryland narrowly surpassed Resorts World New House of York City in Queens, NY as the highest grossing commercial gambling casino inward terms of gaming revenue out of doors of Nevada,” noted the American Gaming Association (AGA). “The MD prop benefited from a replete(p) twelvemonth of retail sports betting, which is currently unavailable at the New York property.”

National Harbor is 1 of 7 regional casinos operated past MGM. The company’s other domesticated venues remote of Las Vegas are in Atlantic City, Biloxi, Miss. Detroit, Springfield, Mass., Yonkers, NY, and Ohio. VICI Properties (NYSE: VICI) owns the tangible estate of National Harbor and the other venues.

MGM Dominant Regional Operator

Owing to its step on the Strip, which includes glitzy integrated resorts such as Aria, Bellagio, and Cosmopolitan, MGM is most often associated with its place city.

However, as noted, the fellowship has an extended regional portfolio, offering investors geographic diversification. Importantly, the operator’s venues outside of Sin City are strong performers. Including National Harbor, tetrad of the whirligig octonary grossing regional casinos in 2022 were MGM properties, according to the AGA.

The others on that name were Borgata inward Atlantic Ocean City, MGM Grand Motor City and Empire City inwards Yonkers, NY. Borgata was ane of threesome Atlantic Ocean City among the top of the inning 20 regional casinos inward terms of 2022 receipts gaming revenue (GGR) and was far and aside the leader of that trio.

The top of the inning regional casinos inwards 2022 GGR terms were rounded out by Wynn Resorts’ Encore capital of Massachusetts Harbor and Live! Casino and Hotel inward Hanover, Md.

MGM Could Be Sitting on Another Gold Mine

By list of venues inwards the upper side 20 inward terms of 2022 GGR out of doors of Nevada, MGM leads with quartet of aforementioned venues. Caesars Entertainment, Hard John Rock and Rivers for each one experience a pair of casinos on the list.

For MGM, its next magnanimous thing among regional casinos could already live inwards its portfolio. When method of accounting for the fact that Resorts World New House of York City inward Queens and MGM’s Empire City Casino inward Yonkers are already deuce of the top of the inning grossing regional casinos as slots-only properties and the likelihood those venues turn full-service casinos, MGM could live sitting on valuable attribute inwards the New York area.

Regulators in that nation are expected to award III downstate casino permits later this year and it’s widely believed Empire City and Resorts World testament garner deuce of those licenses.

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