Maryland Casinos See Downturn, February Gaming Revenue Totals $157M
Maryland casinos won a register amount of money from gamblers in 2022. The six commercial properties kicked sour 2023 strong, but they experienced a retardation lastly month.
Gaming revenues supplied by the MD Lottery and Gaming Control Agency reveal the casinos won $157 zillion in February 2023. That’s a 3.6% year-over-year drop-off or a diminution of nearly $5.9 1000000 from Feb 2022.
MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Rocky Gap Casino Resort, and Hollywood Casino Perryville won o'er $2 1000000000000 inwards 2022 from their one-armed bandit machines and table games. The record-setting revenue experienced cobbler's last year represented a nearly 7% year-over-year improvement.
Maryland Casino Revenue
- $2.05B — 2022
- $1.92B — 2021
- $1.22B — 2020
- $1.75B — 2019
- $1.74B — 2018
- $1.61B — 2017
- $1.20B — 2016
- $1.09B — 2015
MGM National Harbor, the market leader inward Maryland, opened inward Dec 2016. The structured resort operated by MGM Resorts led the right smart utmost year with GGR of $884.4 million.
2023 Slowdown?
Maryland casinos continued their 2022 bleed into the new twelvemonth with a prosperous January. Gross gaming revenue (GGR) totaled just shy of $167.3 gazillion — an 8.8% make headway on January 2022 that kicked away the state gaming industry’s record-setting campaign.
The province gaming industry managed through and through ongoing rising prices and economical concerns, but the more than 12-month rebound eventually slowed inward February. National Harbor reported nearly monotonic GGR of $65.6 million, a 0.4% year-over-year decline.
Live! Casino, the second-richest casino in Maryland, saw GGR driblet to a greater extent than 6% to about $55.7 million. Horseshoe Baltimore’s year-over-year diminution was still greater with an 8% free fall to $16.3 million.
The state’s trinity holiday resort casinos combined to win most $19.4 million — a declination of nigh 3%. Ocean Downs was the only when Old Line State cassino to describe a year-over-year GGR realize inward Feb 2023 at 3.7%. Winston S. Churchill Downs, Inc. owned and operated the casino, won $6.8 million.
February 2023 had the same keep down of weekend days — octad — as February 2022. No significant brave out finally month could live cited for the gaming regression.
Sports Betting Benefit
Should the February casino trend keep into March and end-to-end 2023, some of the year-over-year like losses will be part offset by the improver of online sports betting.
Gambling on pro and college sports in the Old Line State began in mortal at the state’s casinos inwards Dec 2021. Online sports betting, which Marylanders also authorized through a November 2020 referendum, only when began inward mid-November 2022.
In December, online sportsbooks accounted for over $478.2 trillion of the $497.2 1000000 wagered on sports. Oddsmakers said they kept nearly $85.2 jillion of the bets on a warm 17% hold. Online books won $82.3 million.
Online sportsbooks preserve to engagement for market part with material promotional incentives for young customers. The Dec grip included to a greater extent than $70.9 trillion inward unloosen bets.
Bettors run to come out free people wagers on events with yearner odds than they otherwise would with their own money. That led to the important carry rate.
In January, promotional bets slowed, as bettors eager to wager legally online experience used often of their incentives. Promotional wagers inwards January totaled around $21.8 million.
January GGR from sports betting totaled $59.6 zillion on a 13.5% hold. February numbers have got not yet been revealed.
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