Maryland Casinos Bring In $145.5 Million in January Revenue
Gambling in Maryland had another strong month for revenue, as the state’s six casinos combined to bring in around $145.5 million in January 2020. That figure represents an increase of 6.2% from January a year ago, though it’s a little down from December.
Maryland generated $149.1 million in casino revenue in December 2019 to cap a great phenomenal calendar year. Between video lottery terminals and live table games, the six casinos brought in a whopping $1.757 billion in Gross Terminal Revenue from January to December 2019.
January’s figure to kick off 2020 was down about 2.6% from December despite all but one Maryland casino growing in revenue.
MGM National Harbor Leads the Way
The leader was MGM National Harbor with $58.2 million as it continues to set the standard for the state’s other gambling facilities. Revenue was up 4.1% from January 2019 at MGM while the second-highest earner, Live! Casino & Hotel was up 11.8% with $51.7 million generated.
MGM remained the revenue leader but Live! maintains its distinction as the largest Maryland casinos, offering a state-leading 3,853 slot machines as well as 193 table games.
Maryland’s third ranked casino in revenue, Horseshoe Casino Baltimore, was the only one of the six to experience a year-to-year decline as its $19.3 million represented a 4.4% decrease. The state’s other three casinos, Rocky Gap, Ocean Downs and Hollywood Casino Perryville, all saw revenue percentages increase by double digits.
As these casinos continue to rake in the revenue several facilities, including MGM, have recently been at odds with Maryland’s racetracks and other gambling locations. The casinos believe they should be granted exclusivity to offer sports betting and have been recently pushing legislators to make that happen.
With the potential for even stronger revenue as an incentive, Maryland’s casinos are looking to maximize on the state’s growing friendliness towards wagering on sporting events.
Maryland Casinos Contributing to Education
The high revenues furthered the cause and efforts of Maryland’s casinos to bolster community programs, most notably public education.
A sizable portion of all casino revenue generated in Maryland is customarily funneled towards education funding, and January was no different. Around $60.2 million of the month’s casino revenue was distributed to the local community including $45.2 million exclusively for the Education Trust Fund.
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