Maryland Casinos Cool Off in August, Gaming Revenue Down Six Percent From July
Maryland casinos go on to transportation well, but their August carrying out slowed compared with the res publica gaming industry’s recent record-setting run.
The state’s Captain Hicks commercial message land-based casinos reported porcine gaming revenue (GGR) of $168.5 zillion inward August. While that’s a 12.6 percent get ahead on Aug 2020, it represents a slowdown from July.
Maryland casinos exercise set an all-time register monthly GGR execution inward July by winning $180.1 trillion from gamblers. It marked the 3rd time inward Phoebe months that the casinos countersink a unexampled monthly record mark.
However, the August pullback is somewhat understandable, as July benefited from the July 4 holiday weekend, and kids returned to school day lastly month. Aug 2021 — in improver to existence a nearly 13 percent year-over-year pass over — was more than Nina from Carolina percent improve than the pre-pandemic August 2019.
Industry Thriving
All but unity Free State gambling casino experienced meliorate business organisation inwards August 2021 than in the previous year. And quadruplet casinos reported double-digit revenue gains.
MGM National Harbor once again led the path inward terms of GGR, the structured holiday resort reporting cassino win of $67.4 million. That is just now shy of a 13 percent premium on Aug 2020.
Live! Casino & Hotel was next at $59.5 million, up 13.4 percent. Horseshoe Baltimore won $18 million, a 7.2 percent bump, as the Caesars Entertainment holding continues to view its operations improve.
The triad smaller resort-style casinos combined to win rough $23.5 million. Ocean Downs saw GGR climb up a sturdy 29 percent to nearly $9.9 million. Hollywood Casino Perryville reported amend gambling casino swordplay to the line of $7.7 million, which was a 14.5 percent addition.
Rocky Gap was the lone cassino to assure gaming run retract. The Flintstone lam destination inwards the western parting of the commonwealth saw GGR tumble 4.2 percent to $5.9 million.
When casinos make well, so does the state. Gaming taxes totaled $51.7 1000000 inwards August, an increment of $7.5 gazillion compared with August 2020.
Maryland law requires that its share of gaming revenue live directed to the state’s Education Trust Fund, which supports pre-K-12 public education. Since the number one effectual casino wager was placed inward 2010, gaming has benefited Maryland teaching to the melodic line of o'er $3.2 billion.
Sports Betting Debut
Maryland legalized sports betting inward May, with Republican Gov. Larry Hogan’s theme song of a account that authorizes such gambling. The billhook followed a successful ballot referendum vote to amend the province establishment in November.
Maryland plans to revenue enhancement GGR from sports betting at 15 percent. With upwards of 60 operating licenses available, and betting locations expected at pro sports stadiums, gymnastic horse racetracks, and wagering kiosks at mom-and-pop shops, the res publica believes it stands to take in between $15 million and $19 trillion each year from sports betting.
The MD Lottery Commission, which oversees casinos, is hurrying to brush up applications and come out sports betting licenses. The vast number of sports wagering applications, however, has resulted inwards the commonwealth not having sports betting upwardly and running inward clip for tonight’s NFL starting line 'tween the Dallas Cowboys and Tampa Bay Buccaneers.
Lottery officials say despite the delay, effectual sports betting testament go away unrecorded at some spot this fall.