February Casino Revenue Dips in Maryland; Capacity Still Down
February saw a slight drop in Maryland casino revenue compared to January, with coronavirus-related capacity limits still in place.
Maryland casinos recorded $126.2 million in gaming revenue for February, down 2% from January’s total of $128.8 million. The state’s six commercial facilities contributed $53.2 million to Maryland’s coffers in February.
The state’s casinos are still under reduced capacity nearly a year after the spread of COVID-19 first shut down the industry in March 2020. The state’s largest casino, MGM National Harbor in Oxon Hill, is operating at 25% capacity, as is Horseshoe Casino Baltimore.
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The Live! Casino & Hotel in Hanover is now allowed to run at 50% capacity; it had been at 25%. The other three Maryland casinos — Hollywood Casino Perryville, Ocean Downs Casino in Berlin and Rocky Gap Casino Resort in Flintstone — were already running at 50%.
Of the $53 million that the casinos combined to contribute to the state in February, about $38.7 million went to the Education Trust Fund, Maryland Lottery and Gaming reported.
For the 2020-21 fiscal year so far (July through February), the state has drawn $1.08 billion in revenue, 15.6% off the pace from 2019-20.
Maryland Casino Revenue Highlights
All six casinos in Maryland had revenue drops last month compared to February 2020, as the state total was off 16.6% in a year-over-year comparison.
MGM National Harbor had the highest revenue overall (slot machines plus table games) in February at $50.8 million. MGM was one of three casinos with a revenue increase in February compared to January, rising from $50.5 million the previous month. Horseshoe (from $13.8 million in January to $14.3 million in February) and Ocean Downs ($5.7 million to $5.8 million) were the other two facilities where revenues rose in a month-over-month comparison.
The gross terminal revenue from Video Lottery Terminals (VLTs) was down slightly, from $85.7 million in January to $84.7 million in February. Likewise, revenue from table games dipped from $43 million to $41.5 million.
What About Maryland Sports Betting?
The six casinos could offer legal sports betting to folks in Maryland if legislation makes its way through the system.
If sports betting measures pass, the six Maryland casinos could apply for Class A retail licenses as well as online licenses, which should mean that the facilities could offer mobile sports betting too.
One current emphasis in the legislature is that minority-owned and female-owned businesses should have a fair stake in any Maryland sports betting market.