Maryland casinos won a book amount of money from gamblers inwards 2022. The vi commercial-grade properties kicked cancelled 2023 strong, but they experienced a lag lastly month.
Gaming revenues supplied by the MD Lottery and Gaming Control Agency reveal the casinos won $157 one thousand thousand in Feb 2023. That’s a 3.6% year-over-year reduction or a declination of well-nigh $5.9 billion from Feb 2022.
MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Rocky Gap Casino Resort, and Hollywood Casino Perryville won over $2 one thousand million inward 2022 from their expansion slot machines and tabularize games. The record-setting revenue experienced utmost twelvemonth 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 way of life lowest year with GGR of $884.4 million.
2023 Slowdown?
Maryland casinos continued their 2022 feed into the new twelvemonth with a prosperous January. Gross gaming revenue (GGR) totaled just now shy of $167.3 trillion — an 8.8% earn on January 2022 that kicked away the state gaming industry’s record-setting campaign.
The state gaming manufacture managed through and through ongoing rising prices and economical concerns, but the more than 12-month rally 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 cassino inward Maryland, saw GGR bead more than 6% to well-nigh $55.7 million. Horseshoe Baltimore’s year-over-year correct was yet greater with an 8% fall to $16.3 million.
The state’s ternary resort hotel casinos combined to win nigh $19.4 trillion — a declination of most 3%. Ocean Downs was the only Maryland casino to study a year-over-year GGR pull in inwards Feb 2023 at 3.7%. Winston Churchill Downs, Inc. owned and operated the casino, won $6.8 million.
February 2023 had the same list of weekend days — ogdoad — as Feb 2022. No significant atmospheric condition in conclusion month could be cited for the gaming regression.
Sports Betting Benefit
Should the Feb casino trend go on into Mar and throughout 2023, some of the year-over-year like losses testament live part offset by the increase of online sports betting.
Gambling on pro and college sports inward the Old Line State began in somebody at the state’s casinos in Dec 2021. Online sports betting, which Marylanders also authorized through a Nov 2020 referendum, only when began inwards mid-November 2022.
In December, online sportsbooks accounted for o'er $478.2 1000000 of the $497.2 one thousand thousand wagered on sports. Oddsmakers said they kept nearly $85.2 gazillion of the bets on a strong 17% hold. Online books won $82.3 million.
Online sportsbooks persist in to combat for securities industry divvy up with material promotional incentives for young customers. The Dec handgrip included more than $70.9 gazillion inwards liberate bets.
Bettors run to localize unloosen wagers on events with longer betting odds than they otherwise would with their own money. That led to the important hold up rate.
In January, promotional bets slowed, as bettors eager to wager de jure online get used often of their incentives. Promotional wagers inwards January totaled nigh $21.8 million.
January GGR from sports betting totaled $59.6 zillion on a 13.5% hold. February numbers have got not in time been revealed.
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