Maryland casinos raise $160m in November as revenue soars

This marks a 23% year-on-year increase according to the Maryland Lottery and Gaming Control Commission.

November saw Maryland’s casino revenue continue to grow according to data released by the state’s Lottery and Gaming Control Commission on Monday.

Casinos recorded a year-on-year revenue increase of 23% as properties raised $160m in revenue. This also represents a boost in revenue from October, which was approximately $154m.

This growth in revenue is reflected in the amount sent to the state’s fund, with $67m, or 41%, put toward government initiatives, marking a $13.5m year-on-year increase.

From the $67m, $49m was sent to the state’s Education Trust Fund, approximately $10m more than last year.

Of the Free State’s properties, the MGM National Harbor in Oxen Hill led the way with $67.9m in profits, a 23% boost over last year. Live! Casino & Hotel was close behind with $58.2m, with year-on-year growth coming in at an impressive 29%. Together these two properties accounted for almost 79% of profits in the state.

In third place, was the Horseshoe Casino with $15,7m. Reporting lower profits was the Hollywood Casino Perryville with $7.05m, while Worchester County’s Ocean Downs Casino recorded the highest year-on-year boost at 30% and $6.64m. 

November saw the state grant five sports betting licenses to operators is at prepared to launch its offering. In a 5-2 vote, the Sports Wagering Review Commission vote for licenses to be granted to the MGM Nation Harbor, Live! Casino & Hotel, the Horseshoe Casino, Hollywood Casino, and Berlin’s Ocean Downs Casino.

While popular, the decision to launch sports betting in the state faced some resistance, with Frank Turner, an ex-lawmaker, voting against the proposal, citing a lack of African American and minority owners among the operators selected.

“We don’t ever seem to start at the same starting point that everybody else does, and then we get left behind, just like we did with the cannabis,” Turner noted of the state’s legal cannabis program. “We got left behind, and that’s what I’m trying to avoid this time.”

Henry Moore

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