Maryland Casinos Cap Off Record Revenue Year in 2021


Posted on: January 11, 2022, 05:58h. 

Final up to date on: January 11, 2022, 05:58h.

Maryland casinos loved their finest 12 months ever in 2021. And the six industrial gaming properties hope to solely enhance on the record-setting efficiency this 12 months now that sports activities betting is formally dwell.

Maryland casino revenue GGR sports betting
Maryland sports activities radio host J.P. Flaim locations a wager final month on the BetMGM Sportsbook at MGM Nationwide Harbor. Sports activities betting is simply starting, as Maryland casinos come off their finest income 12 months ever. (Picture: Maryland Issues)

Gross gaming income (GGR) in 2021 totaled $1.922 billion for the six casinos. Final 12 months’s haul simply bested the state gaming trade’s earlier all-time finest income mark of $1.76 billion set in 2019.

Regardless of ongoing COVID-19 issues, Maryland casinos benefited from pent-up demand for leisure and private freedom not skilled for the reason that 1920s. On line casino executives and trade stakeholders hope 2021 was the kickoff of a second “Roaring 20s.”

MGM Nationwide Harbor led the way in which in 2021 with GGR of roughly $769.eight million. Dwell! On line casino & Lodge was subsequent at $692.2 million. The 2 dominant casinos mixed to account for $1.46 billion, or 76 p.c, of the entire gaming income.

Horseshoe Baltimore gained $208.9 million. The state’s three smaller resort-style casinos — Hollywood Perryville, Ocean Downs, and Rocky Homosexual — mixed to win the remaining $252 million.

File Play

Maryland casinos concluded the 12 months with one other robust efficiency, as December GGR totaled $172.9 million. MGM once more was the highest earner at $74.5 million, and Dwell! — which claimed the top spot in October for less than the second time since MGM Nationwide Harbor opened in December of 2016 — was in its typical second-place place at $62.5 million.

The mix of the vacation season and the launch of sports activities wagering at 5 of the casinos throughout December led to nice outcomes,” stated Maryland Lottery and Gaming Director John Martin. “We congratulate our on line casino companions for his or her ongoing success.”

Maryland casinos set a number of information in 2021. The state gaming trade in July posted its finest month-to-month GGR efficiency in historical past when on line casino income topped $180.1 million. July was the third time in 5 months {that a} new month-to-month GGR document was set.

On line casino gaming in Maryland advantages public training. In 2021, slot machines contributed practically half of a billion {dollars} ($498.1 million) to the Maryland Schooling Belief Fund. Desk video games added one other $93.four million.

Sports activities Betting Arrives

2021 was a banner 12 months for Maryland casinos. The arrival of sports activities betting solely provides to the 2022 enthusiasm and income momentum.

The primary authorized sports activities guess in Maryland was wagered on December 9 at MGM National Harbor. 4 further retail on line casino sportsbooks have since opened.

December deal with, or the quantity guess, totaled $16.5 million. Of the motion, oddsmakers saved $3.17 million on a 19 p.c maintain. Sports activities betting income generated practically $470,000 for the training belief.

Sportsbook deal with and income will enhance considerably because the trade is permitted to debut their cellular wagering apps. Along with sportsbook privileges for the casinos, horse racetracks, skilled sports activities venues, and the State Fairgrounds, Maryland’s huge sports activities betting legislation authorizes as much as 60 cellular sportsbook licenses.

State gaming regulators are presently deciding how cellular sports activities betting will function. On-line sports activities betting is predicted to go dwell within the second half of this 12 months.



Source link

WCD

Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *