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Live's revenue fell 21.6 percent in April, 14.6 percent in March, 14.3 percent in February and 15.6 percent in January. Horseshoe's May revenue of $23.5 million was down 18.1 percent, while MGM reported monthly revenue of $50.5 million. In December 2013, a state consultant predicted that MGM — if it were awarded the site license in Prince George's County — would take 23 percent of Live's revenue. While the $1.4 billion MGM — directly across the Potomac River from Virginia — has had a sizable impact, analysts said it hasn't been as dire for Live as predicted. "I think both MGM and Live can both settle in with their own niche customer," said Alan Woinski, president of Gaming USA Corp., which publishes industry newsletters. "MGM is the more high-end, tourist and table game player while Live has the location and enough traffic near them to remain strong." Woinski said MGM may hold an advantage during the summer tourist season because of its proximity to Washington's popular destinations. "That being said, there is still enough business to go around between these three properties," he said. "If you took a poll at National Harbor and Live, my guess would be many regular customers frequent both locations." Regional gambling has been thriving in many states even as the traditional Mid-Atlantic casino destination of Atlantic City, N.J., has been pinched. Five Atlantic City casinos have shut down since 2014. The state received $510 million in revenue sharing from casinos in the last fiscal year, making it Maryland's fourth-largest source of funds after income, sales and corporate taxes. Live is located about a dozen miles from Horseshoe and about 35 miles from MGM.
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