Maryland Casino Revenue Wanes Nearly Five Percent in August, Gamblers Lose $161.4M
Maryland casino revenue lastly month dropped nearly 5% year-over-year to just now shy of $161.4 million.
The Free State Lottery and Gaming Control Agency reports that the state’s half dozen casinos won $161.39 zillion from their one-armed bandit machines and tabularize games during August 2023. That’s shoot down 4.7% — or well-nigh $8 billion — from August 2022. Last month also represented a to a greater extent than 7% slump from July 2023, when the casinos won $174.3 million.
MGM National Harbor still henpecked the nation gaming market place with receipts gaming revenue (GGR) of $68.4 million, which represented a 4.8% year-over-year drop. Live! Casino Hotel Free State placed a remote indorsement at $55 trillion — a 3.1% diminution from Aug 2022.
Horseshoe Casino Baltimore’s woes continued shoemaker's last month, as the Caesars-operated holding won just now $15.4 million — a nearly 11% dump from the previous August.
Ocean Downs, Hollywood Perryville, and Rocky Gap, Maryland’s terzetto smaller resort-style casinos, combined to win virtually $22.5 million. That is $1 jillion less, or a 4.3% decline, from August 2022 when those III casinos won $23.5 million.
August marked the indorse month inwards a row where GGR declined year-over-year. However, July 2022 was a difficult comparable, as the $181.5 one thousand thousand won by the casinos represented the second-best month in the 13-year account of Maryland’s commercial message gaming industry.
Gaming Breakdown
It’s difficult to nail why gaming income went S for Maryland casinos cobbler's last month.
Unlike some states, such as Nevada, which breaks shoot down revenue by biz inwards its monthly revenue reports, Maryland’s financial filings do not. The Maryland Lottery and Gaming Control Agency only when specifies GGR past slots and tables.
In August, slots won $109.1 jillion from gamblers, representing a 3% drop — or $35.2 trillion — from August 2022. Table games kept $52.3 million of the wagers, mastered 8% from Aug 2022, when the felt won more than $56.7 million.
Since Maryland doesn’t pinpoint win rates for table games and expansion slot terminals, it’s unclear if the revenue declines because of poorer households or if gamblers wagered less. But Free State casinos winning to a lesser extent money inward July than inward July 2022 wasn’t unique to the Old Line State.
Gaming revenue inwards nearby Atlantic City also went south inward July, as New Jersey casinos reported a brick-and-mortar GGR coast of 3%. The ix casinos inwards Atlantic Ocean City won around $290 jillion on their physical floors — $9 billion to a lesser extent than July 2022. New Jersey hasn’t yet released its August numbers.
July brick-and-mortar gaming revenue inward Keystone State was also down. GGR inwards the Keystone State felled seam virtually 1% to roughly $298 million.
iGaming Review
Maryland’s gaming regulators last-place month, at the request of the tell legislature, commissioned an iGaming study to shape what sort of task benefits the nation power invite should it allow online casinos.
The Innovation Group, a Denver-based gaming consultancy, is compiling the data. The reexamine is portion of an exertion past state lawmakers in Annapolis who backing online gaming to win o'er to a greater extent General Assemblypersons.
In January, State Sens. Daffo Watson (D-Prince George) and Nancy Martin Luther King Jr. (D-Montgomery) introduced statute law seeking to savant a statewide ballot referendum asking Marylanders if they wished to amend the Old Line State Constitution to include iGaming. But the statute — Senate Bill 267 — stalled inwards the Senate Budget and Taxation Committee.
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