Maryland's Two Top Casinos Pave Way in November Gaming Revenue
Maryland’s compact but vigorous real money casino industry continued to contribute tens of millions of dollars in tax money to the state in November. And the two biggest cash generators, MGM National Harbor and Live! Casino & Hotel, dominated the gaming revenue picture.
Combined, Maryland betting hauled in $160.36 million in revenue with its six casinos for November, an increase of 23% from the same month a year ago when the casinos were doing business under capacity restrictions from the COVID-19 pandemic.
The revenue figure for October was $154.98 million, which was less than the September figure of $165.4 million.
Maryland’s casino industry continued to contribute tens of millions of dollars Those gaming revenues yielded a combined $67.17 million in money to the state for the month with the lion’s share going toward education (the state’s Education Trust Fund). The ETF was the beneficiary of $48.86 million of the total money sent to the state in November. Other recipients of casino-generated cash are the horse racing industry, communities and jurisdictions where the casinos are located, and small, minority- and women-owned businesses.
Retail Sports Gambling Is Coming
The casinos, in general, are looking forward to the advent of retail sports gambling, which is expected to launch some time this month. Five of the casinos have been given preliminary green lights for sportsbooks but some regulatory processes still have to be completed. The only casino without preliminary sports gambling approval so far is the state’s smallest, Rocky Gap Casino Resort in Allegany County.
In Maryland, small non-casino businesses – off-track betting parlors, bingo halls and even bars and restaurants – also can apply for retail sportsbook licenses and a number of those establishments are expected to join the sports gambling marketplace. Online sports gambling is also authorized in Maryland but internet sports betting isn’t expected to start until well into 2022.
Concerning November gambling figures, the two powerhouse casinos in Maryland have been and remain MGM National Harbor in Oxon Hill, near Washington D.C., and Live! Casino & Hotel, in Hanover. Together, those two halls accounted for about $126 million of the state’s casino revenue in November, or nearly 79% of the total.
MGM Revenue Up 22.7%, Live! Increases By 29.3%
MGM National Harbor was the market leader with $67.86 million in revenue, an increase of 22.7% from November 2020.
Live! Casino & Hotel was close behind with $58.2 million in revenue, a 29.3% jump from November 2020.
Running third for November was the Horseshoe Baltimore, located near M&T Bank Stadium, where the NFL Ravens play along the city’s southern gateway. The Horseshoe’s revenue was $15.68 million for the month, an increase of just 2.8% from November 2020.
The rest of the state’s casinos shaped up this way:
- Hollywood Casino in Perryville, $7.05 million, an increase of 19.9% from November 2020
- Ocean Downs Casino in Worcester County, $6.64 million, an increase of 30.4% Nov. 2020
- Rocky Gap Casino, $4.94 million, an increase of 29.5% from November 2020.