Maryland casinos set new gaming revenue record in July
Maryland’s six casinos registered $181.5m in gaming revenue in July.
US.- Maryland’s six casinos registered $181.5m in gaming revenue in July. According to the report released by the Maryland Lottery and Gaming Control Commission, gaming revenue surpassed the previous single-month record set in July 2021 by 0.8 per cent.
Contributions to the state totalled $76m, 1.6 per cent lower year-on-year. That’s because, although table game revenues grew, slot machine revenues declined slightly. Maryland taxes slot machines at a higher rate.
Leading the way for casino revenue was MGM National Harbor, which generated $77.2m – up 6.8 per cent year-on-year. Live! Casino & Hotel recorded $61.5m, a decrease of 2.1 per cent. Horseshoe Casino generated $18.3m, a decrease of 4.9 per cent from July 2021.
Of the state’s three smaller casinos, Ocean Downs, Hollywood Casino and Rocky Gap, only Ocean Dows registered an year-on-year increase, with a gaming revenue of $10.5m. Hollywood Casino reported 7.5m, down 14 per cent year-on-year, and Rocky Gap Casino $6.2m, down 1,4 per cent.
Maryland Lottery and Gaming director John Martin said: “We had a record-setting Fiscal Year 2022, and we’ll be announcing those figures soon, but for now we congratulate our casino partners on a great first month of FY2023.
“The casinos are continuing to expand their entertainment options as they rebound strongly from the pandemic, and their success translates into funding for schools, communities and businesses.”
Contributions to the Education Trust Fund totalled $55.2m. Casino gaming revenues also support local communities and jurisdictions home to casinos, Maryland’s horse racing industry, and small, minority- and women-owned businesses.
Sports betting in Maryland
The Maryland Sports Wagering and Application Review Commission (SWARC) has approved regulations to speed up the launch of mobile sports betting. The move comes after governor Larry Hogan urged the commission to “accelerate and intensify” its work to get mobile sports gambling up and running by September. However, the launch date is still uncertain.
The commissioners have signed off on the amended online licensing procedures, which now go to the Maryland Legislature’s Joint Committee on Administrative, Executive, and Legislative Review for emergency approval. If the legislature ratifies the altered online sportsbook licensing process, SWARC will begin fielding applications and issuing permits to approved entities.
Governor Hogan signed a bill to legalise online and retail sports betting in Maryland last year after voters approved sports betting through a November 2020 referendum. Retail betting has been available for seven months, but online sports betting has not yet launched. Hogan has said he wanted to have mobile sports betting in time for the NFL season in September. There will be 60 mobile and 30 retail licences available.
