Maryland’s six casinos reported that they have earned much more from the gamblers in May 2021 than they have ever made in the gambling industry of Maryland.
The Gross Gaming Revenue generated by casinos in May was totaled to be $172.9 million. The generated revenue of May tops the all-time high monthly gross gaming revenue of $169.1 million generated in March 2021.
The revenue generated in May 2021 showcased a 13.2% hike compared to May 2019, the revenue generated by six casinos was $152.27 million from gamblers.
There was no revenue generated in May 2020, since the majority of casinos were shut down by Governor Larry Hogan’s order to avoid contraction with Covid-19. The casinos were closed till June 19.
MGM National Harbor was first on the list of huge winnings, nearly $68.4 million. Live! Casino earned $61.4 million and Horseshoe Baltimore earned $19.5 million.
The combined gross gaming revenue of Hollywood Perryville, Rock Gap, and Ocean Downs was $23 million.
The state generated taxes from the May gross gaming revenue by casinos is $73.4 million. The Education Trust Fund received the support of $53.3 million.
Among the six casinos, only Horseshoe Baltimore gained less revenue in May 2021 when compared to the revenue generated in May 2019. The Caesars Entertainment property still struggles, but the firms continue to make the heavy investment to remove urban blight between the city’s sports stadium and the firm’s casino.
For the rest of the five casinos of Maryland, May has been the most profitable month. When compared with the revenue generated in May 2019, which was way before the Covid-19 pandemic hit the world, the revenue generated in May 2021 experienced a high surge in its gaming floor.
MGR National Harbor saw an increase in the Gross Gaming Revenue up to 15.7% from 2019, and Live! Casino saw a surge of 14.8%.
The smaller resort-style casinos saw even higher surges such as Hollywood (22.8%), Ocean Downs (18.8%), and Rocky Gap (21.4%).
Hogan eased all the Covid-19 restriction during mid-March, but casinos follow local coronavirus laws. Horseshoe Baltimore and MGM National Harbor remained to operate with 50% operating capacity. By May 17th, casinos were operating in full capacity.
Gaming authority and executives have been promoting the idea of increased demand starting from 2020 lockdown and home orders would result in quick recovery. This certainly seemed to be the case in Maryland, where all six casinos posted two record-setting revenue since march.
Sports Betting Launched
The month of May has proved to be great for Maryland casinos, but not just for performances of land-based casinos. Casino operators also have received big news out of the Annapolis capital that sports betting was officially signed and officially regulated by Hogan.
The regulation allows the six casinos to also include sportsbooks into their property, additionally, operators are also allowed online sports betting. Hogan was the first casino operator to introduce the initiative of sports betting.
Maryland now joins its four border states – Delaware, Pennsylvania, Virginia, and West Virginia.