Maryland casinos generate August revenue of $168m
Maryland’s six commercial casinos reported August revenue of $168m, a 12.6% increase year-on-year even as win fell off slightly from the prior month.
August revenue increased by approximately $19m from the same month in 2020, when casinos were limited to 50% capacity due to the Covid-19 pandemic.
Five of the six casinos posted y-o-y increases, four of them by double digits.
August revenue was down 6.9% from July, when the state set a single-month record with $180m in win.
MGM National Harbor once again led the state in revenue with $67.4m, a 12.9% improvement y-o-y and a 6.8% drop from July. The Cordish Companies’ Live! Casino & Hotel was runner-up, earning $59.5m for a 13.4% jump from August 2020 and a 5.4% decline m-o-m.
Horseshoe Casino, operated by Caesars Entertainment, was a distant third with $18m in revenue, up 7.2% y-o-y and down 6.7% from the month prior.
Ocean Downs Casino saw the biggest y-o-y improvement of 29% by generating $9.9m. That was a decrease of 5.7% from July.
Penn National’s Hollywood Casino took in $7.8m, up 14.5% y-o-y and down 12.5% m-o-m.
Rocky Gap Casino rounded out the market with $5.9m, a decrease of 4.2% y-o-y and a decline of 6.3% from the month prior.
All eyes in Maryland have turned to the impending launch of sports betting, where the state Lottery and Gaming Commission are still working to develop gaming license rules.
Maryland’s sports betting law names 17 ‘non-competitive’ sites for sports betting, which include the state’s casinos and three professional sports stadiums.
The Sports Wagering Application Review Commission can award up 30 more ‘competitive’ brick-and-mortar licenses and up to 60 online licenses.
As of this week, regulators have not begun the process of distributing and accepting license applications.
Pressure is mounting, especially as the Baltimore Ravens near their NFL regular season opener on Monday against the Las Vegas Raiders.
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