Maryland Casinos Cool Off in August, Gaming Revenue Down Six Percent From July
Maryland casinos persist in to fare well, but their Aug carrying into action slowed compared with the tell gaming industry’s recent record-setting run.
The state’s vi commercial-grade land-based casinos reported receipts gaming revenue (GGR) of $168.5 meg in August. While that’s a 12.6 percent gather on Aug 2020, it represents a lag from July.
Maryland casinos go down an all-time track record monthly GGR carrying out inwards July by winning $180.1 billion from gamblers. It pronounced the third clip inwards pentad months that the casinos countersink a unexampled monthly track record mark.
However, the Aug pullback is somewhat understandable, as July benefited from the July 4 holiday weekend, and kids returned to schooltime last-place month. Aug 2021 — inward addition to being a nearly 13 percent year-over-year leap — was to a greater extent than ennead percent ameliorate than the pre-pandemic August 2019.
Industry Thriving
All but I MD cassino experient ameliorate business sector inward August 2021 than in the previous year. And IV casinos reported double-digit revenue gains.
MGM National Harbor once more led the path inward terms of GGR, the integrated resort hotel reporting casino win of $67.4 million. That is just now shy of a 13 percent insurance premium on Aug 2020.
Live! Casino & Hotel was next at $59.5 million, upwards 13.4 percent. Horseshoe Baltimore won $18 million, a 7.2 percent bump, as the Caesars Entertainment belongings continues to insure its trading operations improve.
The iii littler resort-style casinos combined to win rough $23.5 million. Ocean Downs saw GGR climb a sturdy 29 percent to nearly $9.9 million. Hollywood Casino Perryville reported amend casino child's play to the melodic line of $7.7 million, which was a 14.5 percent addition.
Rocky Gap was the lone cassino to view gaming gambol retract. The Flintstone getaway destination in the western sandwich voice of the tell saw GGR topple 4.2 percent to $5.9 million.
When casinos fare well, so does the state. Gaming taxes totaled $51.7 billion inward August, an increase of $7.5 1000000 compared with Aug 2020.
Maryland jurisprudence requires that its percentage of gaming revenue follow directed to the state’s Education Trust Fund, which supports pre-K-12 public education. Since the foremost sound gambling casino wager was placed in 2010, gaming has benefited Free State didactics to the melodic line of over $3.2 billion.
Sports Betting Debut
Maryland legalized sports betting in May, with Republican River Gov. Larry Hogan’s signature of a vizor that authorizes such gambling. The bank bill followed a successful ballot referendum voter turnout to amend the commonwealth make-up in November.
Maryland plans to task 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 state believes it stands to incur between $15 zillion and $19 jillion annually from sports betting.
The Free State Lottery Commission, which oversees casinos, is hurrying to brushup applications and publication sports betting licenses. The vast keep down of sports wagering applications, however, has resulted inward the commonwealth not having sports betting upward and running inwards time for tonight’s NFL go betwixt the Dallas Cowboys and Tampa Bay Buccaneers.
Lottery officials say despite the delay, legal sports betting testament move live at some gunpoint this fall.