The first month of 2022 has just come to an end and states are already beginning to release their gambling revenue reports. That includes Maryland, home to some of the most popular casinos on the East Coast. New reports surfaced this week showing that Maryland’s popular casinos saw impressive revenue gains over the month.
Lawmakers in Maryland have succeeded in expanding the state’s gambling industry over the last few years. Now is a great time to look at how the casinos here fared in January.
Let’s get into it!
Maryland’s Popular Casinos Thrived Last January
Maryland is still not thought of as one of the country’s major gambling destinations. It could eventually develop that reputation, however, as a huge number of great gaming options are now available here. That includes both casinos and sportsbooks.
Some of the country’s biggest casino companies own gambling venues in this state. Throughout 2021, these properties succeeded, helping to bring Maryland a huge amount of tax revenue. The first month of 2022 has just wrapped up and new reports have already surfaced showing how much the casinos here managed to earn.
Total casino revenue in the state came out to $154.8 million over the month. Some of Maryland’s popular casinos fared better than others. That includes MGM National Harbor, which saw the most revenue earned during the month at $67.1 million in GGR, representing a 32.8% increase when compared to January of 2021.
Live! Casino & Hotel also posted impressive revenue figures in January. This casino brought in $54.6 million last month, up more than 17% from one year ago. The other casinos in this state experienced mixed results.
Maryland’s regulated sports betting industry formally went live late last year. Unfortunately, residents here will need to wait a little longer to bet on their favorite sports online.
A Launch Date for Mobile Sportsbooks in Maryland Remains Unknown
Maryland is home to just over six million people. A massive percentage of these residents consider themselves hardcore sports fans. State lawmakers recognized this fact and finally gave the green light for retail sportsbooks to launch in the state late last year.
Many residents have been disappointed to see that online sportsbooks have yet to go live in the state. The state’s gaming commission continues working on a set of rules to monitor these mobile platforms. Those hoping to see online sportsbooks launch prior to Super Bowl LVI on February 13 are out of luck.
Five land-based sportsbooks are now up and running in Maryland. It may be months before any mobile sportsbooks launch here. Maryland’s Sports Wagering Application Review Commission is still in the process of setting specific regulations for this industry. Many are hopeful that these online sports betting platforms launch before the start of the 2022 MLB season.
Those in Maryland looking to bet on Super Bowl LVI will need to do so through one of the retail sportsbooks currently up and running. These can be found inside many of Maryland’s popular casinos and several more are set to begin operating over the next couple of months.
Maryland is far from the only state in the northeastern United States to recently expand its gambling industry. Below is a quick look at some of the other states that have recently begun allowing new forms of gambling.
Northeastern State Prepare for a Surge of Sports Betting Revenue
Only a few days remain until the 2022 Super Bowl takes place. Analysts are predicting that millions of Americans will choose to bet on the outcome of this exciting matchup. That is great news for the states with legal, regulated sports betting options available.
New Jersey has been home to the largest sports betting market in the country for years. Many retail and online sportsbooks are already seeing a huge number of wagers on Super Bowl LVI flowing in. This state’s sports betting industry is beginning to face an increase in competition, though.
That is coming primarily from New York. State leaders in this state gave final approval for online sportsbooks to launch in early January. In just their first few weeks of operating, the mobile sportsbooks here took in more than $1 billion total bets.
Sportsbooks inside Maryland’s popular casinos will experience a wave of bets on the NFL championship game this weekend. The betting platforms in Pennsylvania, New Hampshire, and Delaware will, as well.
Maryland’s gambling industry continues to thrive. How do you think these casinos will fare throughout the rest of 2022? Let us know in the comments section below!