Maryland Casino Revenue on the Rise as Operators Prepare for Sports Betting Soft Launch
The latest revenue report from the Maryland State Lottery and Gaming Control Commission (MLGCC) has revealed that the state’s six casinos combined to generate $160.3 million in revenue during the month of November.
This marks a 3.48% increase on revenue figures for the month of October and an increase of 23% over the same period in 2020. However, the report notes that casinos were working at limited capacity during that time.
November saw Maryland casinos pay more than $67.1 million in taxes and fees to the state, a slight drop from the $68.9 million paid in the previous month. $48.8 million of that figure went directly to the Education Trust Fund (ETF), just over $1 million less than in October.
The monthly report also gives a full breakdown of revenues posted by each of the state’s six casinos:
- MGM National Harbor — $67,858,084 up 22.7% from November 2020
- Live! Casino & Hotel — $58,196,084 up 29.3% from November 2020
- Horseshoe Casino —$15,676,825 up 2.8% from November 2020
- Hollywood Casino — $7,049,361 up 19.9% from November 2020
- Ocean Downs Casino — $6,643,046 up 30.4% from November 2020
- Rocky Gap Casino — $4,940,189 up 29.5% from November 2020
In early November, the MLGCC approved five operator/casino partnerships for sports betting licenses. These were:
- Barstool Sports/Hollywood Casino in Perryville
- Caesars Sportsbook/Horseshoe Casino in Baltimore
- FanDuel Sportsbook/Live! Casino & Hotel in Hanover
- BetMGM/MGM National Harbor in Oxon Hill
- TwinSpires/Ocean Downs Casino in Berlin
The MLGCC has since approved two further license applications from Riverboat on the Potomac and Long Shot’s. The two applications will now be forwarded to the Sports Wagering Application Review Commission (SWARC) which is responsible for final approval and issuance of sports wagering licenses.
Speaking in a statement released by the MLGCC, Maryland Lottery and Gaming Director John Martin said:
“We’re extremely happy to see these two locally owned businesses move forward, and we’re eager to continue working with them in the coming weeks to launch their sports wagering operations.”
The statement also revealed that Hollywood Casino in Perryville; Horseshoe Casino in Baltimore, Live! Casino & Hotel in Hanover; MGM National Harbor in Oxon Hill; and Ocean Downs Casino in Berlin were all awarded licenses by the SWARC on Nov. 18. These operators are now currently preparing for controlled demonstrations that will allow guests to participate in live wagering prior to the industry launch set for January 1st.
Martin added:
“Controlled demonstrations are an important final step before sports wagering opens to the public,” Martin said. “They serve as a dress rehearsal for the facilities and their staffs, and they allow Maryland Lottery and Gaming to assure the public that these operations are ready to go.”
“Everything is on pace for the first public openings to happen in December. The facilities and the public are eager to get started, and so are we.”
Ciaran has a decade of experience writing for some of the biggest names in the eSports, poker, and casino industries.
