This marks a 3.48% increase on revenue figures for the month of October and an increase of 23% over the same period in 2020. However, the report notes that casinos were working at limited capacity during that time.
November saw Maryland casinos pay more than $67.1 million in taxes and fees to the state, a slight drop from the $68.9 million paid in the previous month. $48.8 million of that figure went directly to the Education Trust Fund (ETF), just over $1 million less than in October.
The monthly report also gives a full breakdown of revenues posted by each of the state’s six casinos:
- MGM National Harbor — $67,858,084 up 22.7% from November 2020
- Live! Casino & Hotel — $58,196,084 up 29.3% from November 2020
- Horseshoe Casino —$15,676,825 up 2.8% from November 2020
- Hollywood Casino — $7,049,361 up 19.9% from November 2020
- Ocean Downs Casino — $6,643,046 up 30.4% from November 2020 Maryland Casino Revenue on the Rise as Operators Prepare for Sports Betting Soft Launch
In early November, the MLGCC approved five operator/casino partnerships for sports betting licenses. These were:
- Barstool Sports/Hollywood Casino in Perryville
- Caesars Sportsbook/Horseshoe Casino in Baltimore
- FanDuel Sportsbook/Live! Casino & Hotel in Hanover
- BetMGM/MGM National Harbor in Oxon Hill
- TwinSpires/Ocean Downs Casino in Berlin
The MLGCC has since approved two further license applications from Riverboat on the Potomac and Long Shot’s. The two applications will now be forwarded to the Sports Wagering Application Review Commission (SWARC) which is responsible for final approval and issuance of sports wagering licenses.
Speaking in a statement released by the MLGCC, Maryland Lottery and Gaming Director John Martin said:
“We’re extremely happy to see these two locally owned businesses move forward, and we’re eager to continue working with them in the coming weeks to launch their sports wagering operations.”
Maryland Casino Revenue on the Rise as Operators Prepare for Sports Betting Soft LaunchMartin added:
Maryland Casino Revenue on the Rise as Operators Prepare for Sports Betting Soft Launch Maryland Casino Revenue on the Rise as Operators Prepare for Sports Betting Soft Launch
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.