MGM Resorts Runs the Most Profitable Property Outside of Las Vegas
The Las Vegas Strip has been known in the United States to drive some of the biggest revenue for its operators and owners, but many companies are doing well beyond Nevada, too
One such company is MGM Resorts International which owns the MGM National Harbor in Oxon Hill, Maryland. The gross gaming revenue generated by the property in 2022 was enough to place it as the most profitable casino outside of Nevada.
Regional Casinos Caught in an (Un)fair Race
National Harbor, which services both Maryland and Washington, DC, has been able to leapfrog over other properties such as Resorts World New York in Queens, securing a small but sufficient advantage to win it the accolade.
The news was confirmed by the American Gaming Association (AGA) which keeps stock of such developments in the commercial gaming market in the United States. The statement said:
At the property level, MGM National Harbor in Maryland narrowly surpassed Resorts World New York City in Queens, New York as the highest grossing commercial casino in terms of gaming revenue outside of Nevada.
American Gaming Association
The results included both sports betting and gaming operations, which is what drove the results for the Maryland property whereas Resorts World New York City is still not offering sports gambling which has put it at a disadvantage.
Presently, MGM is happy to operate the brand and day-to-day whereas VICI Properties is the owner of the property. MGM Resorts International runs a number of highly-grossing venues across the United States, including in places such as Massachusetts, Ohio, Mississippi, and New Jersey to name a few.
MGM Dominates Regional Casino Revenue and Results
MGM also maintains an unfaltering presence on the Strip where the property stands tall with brands such as Cosmopolitan, Bellagio, and Aria. The company’s been packing a powerful punch and in 2022, four of the eight top-grossing regional casinos were actually MGM properties which demonstrates the company’s ability to drive successful results across the board and in different market conditions.
The Empire City in Yonkers, New York, Borgata in Atlantic City, New Jersey, and the MGM Grand Detroit in Michigan all joined the National Harbor as some of the top-grossing regional casinos based on AGA’s list for 2022. Other venues on the list include properties by Hard Rock, Rivers and Caesars Entertainment, but none of these casinos quite measures up to MGM’s presence which gives the latter brand a strong base of operation to grow.
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