Revenue for Maryland casinos slows in June
The six casinos located in the state brought in over $16m less than in May 2022.
In May, Maryland casinos brought in the second-best numbers on record with $178.8m. However, just a month later, the six casinos brought in a total of $162.7m, an over $16m drop.
Maryland Lottery and Gaming reported the state’s share of June gaming revenue was $68.4m. Most of this revenue will go towards Maryland’s Education Trust Fund.
The casino which brought in the most revenue was MGM National Harbor, which generated $68.4m, up 7.4% from the same month last year. However, gaming revenue at Live! Casino & Hotel was $56m, 4.2% lower than the year before.
Horseshoe Casino in Baltimore reported $17.1m while the other three casinos brought in less gaming revenue than they did in June of 2021. It’s important to note that all capacity restrictions were lifted in May of 2021.
Recently it was revealed that Betfred Sports and Long Shot’s of Frederick, Maryland plan to bring retail and online sports betting to the state via a new partnership. The plan is to have a temporary retail sportsbook adjacent to the Maryland Jockey Club’s OTB within Long Shot’s for the 2022 football season.
Long Shot’s CEO Alyse Cohen commented: “We were at the forefront of bringing sports betting to Maryland and specifically to Frederick. We are thrilled to open a sportsbook at Long Shot’s in partnership with Betfred Sports.”
SCCG Management represented Betfred Sports in this deal and has in previous deals as well. Betfred also plans to build a permanent 8,800 square foot sportsbook with a video wall and theater-style seating at the beginning of 2023.
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