The competition to lure gamblers to lose money at casinos in heating up in Maryland, West Virginia and Delaware.
The largest casino in Maryland will introduce blackjack, craps, roulette and other table games next week and stay open around the clock. The moves are expected to keep many Maryland gamblers from traveling to West Virginia and Delaware.
The expanded casino in Maryland is just latest example of the increased competition for gambling dollars. As more and more states legalize casinos, they are finding there is a limited number of gamblers to go around.
The competition also shows how casinos do not attract tourists, but instead depend on repeat local gamblers. Ed Sutor, president and chief executive of Dover Downs in Delaware, said 50 percent of his business comes from Maryland residents. Many of those gamblers live near the Maryland Live casino in Maryland.
Delaware’s slots revenue is already down 25 percent from five years ago, thanks to increased competition from area states. The Maryland Live casinos threatens to hurt business even further, prompting Delaware casino operators to seek tax breaks from lawmakers.
The upshot is – as a result of increased competition – many states can’t depend on gambling as a steady or growing source of revenue. As a result, the states are being forced to reduce taxes, which reduces the amount of revenue the states take in. Like addicted gamblers, state lawmakers are being forced to chase their losses.