Casino Revenue in Maryland Jumps by 29.1% Year Over Year
A lot of changes have come about in 2022 for various US businesses. One of the most notable is the traffic experienced at physical gambling halls in different states. Maryland’s gambling fans, for instance, have shown their appreciation of fewer Covid restrictions by flocking to casino establishments to enjoy themselves. This fact is apparent based on how much revenue state regulators have collected since January 2022.
February 2022 Numbers Across Maryland’s Establishments
The Maryland Lottery and Gaming Commission recently announced that collectively, the state’s six establishments earned just under $163 million in February. That’s a $36.7 million gain, which is 29.1% higher compared to earnings from the same period in 2021.
The list below gives a breakdown for each establishment in February of 2021 and 2022. That’s based on how many games are also available at each venue.
- MGM National Harbor, which houses 2,126 slot machines and 204 table games, got $65,837,104 in February 2022. That’s a 29.5% increase by $15,003,861
- Live! Casino & Hotel, which houses 3,717 slot machines and 187 table games, got $59,438,059 in February 2022. That’s a 32.2% increase by $14,468,374
- Horseshoe Casino, which houses 1,451 slot machines and 145 table games, got $17,718,142 in February 2022. That’s a 23.8% increase by $3,403,987
- Hollywood Casino, which houses 714 slot machines and 18 table games, got $7,866,631 in February 2022. That’s a 24.9% increase by $1,570,311
- Ocean Downs, which houses 823 slot machines and 18 table games, got $6,592,413 in February 2022. That’s a 13.6% increase by $787,043
- Rocky Gap Casino, which houses 625 slot machines and 16 table games, got $5.5 million in February 2022. That’s a 38.2% increase by $1,523,704
January 2022’s Figures
These numbers are also an improvement from January 2022’s revenue which stood at $153.8 million. Though this was less than February’s, it was still an improvement over the previous year’s January earnings. Perhaps the number could have been higher if all six establishments had improved revenue to report. Here’s a breakdown of how much each venue contributed to the month’s overall numbers:
- MGM National Harbor earned $67.1 million, which was a 32.8% increase
- Live Casino & Hotel earned $54.6 million, which was a 14.4% increase
- Horseshoe Casino earned $16.1 million, which was a 17.1% increase
- Rocky Gap Casino earned $4.3 million, which was a 1.8% increase
- Hollywood Casino earned $6.7 million, which was a 2.8% decrease
- Ocean Downs earned $5 million, which was a 12.3% decrease
Possible Projections for the Rest Of 2022
Based on figures recorded before the global pandemic hit, Maryland has shown a steady trend each year, with its gambling revenue highs and lows. In general, you can expect higher numbers towards the middle of the year. These will hold as the year proceeds and comes to a close. The beginning of the year then experiences a slight dip before picking up again.
Peak periods tend to begin in March, as it marks the beginning of the March Madness season. With sports bettors flocking into the state to bet on their game predictions, there’s more traffic in the gambling halls as well. That leads to boosted earnings during this period. So, it’s expected that March of 2022 will also show marked improvement from March 2021’s collected casino revenue.