Maryland is home to one of the fastest-growing gambling industries in the United States. The casinos here have seen impressive revenue gains throughout all of 2021. New reports show that Maryland’s casino industry thrived over the month of December.
This caps off an incredible year for this state’s casinos. Today, we’ll talk about how the casinos and other gambling operators here might fare throughout 2022.
Let’s get into it.
December Proved Successful for Maryland’s Casino Industry
The new year has arrived. Gambling analysts around the country are now looking back at how various casino industries fared over the last month of 2021. Some states are reporting far better casino revenue figures than others in December.
Maryland’s casino industry managed to thrive last month. Reports have confirmed that the various casinos here brought in a combined $172.9 million in gross gaming revenue. That represents the second-best month in history for the casinos here.
MGM National Harbor saw the largest year-on-year increase. The casino here managed to bring in an incredible $74.5 million in GGR. That is 53.5% higher than what this venue earned in December of 2020. Live! Casino & Hotel also saw impressive gains, with $62.4 million in GGR.
Maryland Lottery and Gaming Director John Martin spoke about what led to these revenue gains to the media this week.
“The combination of the holiday season and the launch of sports wagering at five of the casinos during December led to great results,” Martin said.
The casinos in Maryland are clearly thriving right now. It hasn’t been long since sportsbooks began operating in this state. Here’s a quick look at how the state’s sports betting industry might fare over 2022.
Maryland’s Sportsbooks Are Already Generating Major Revenue
The entire Northeastern US is turning into one of the hottest gambling hubs in the United States. Nearly every state in this area has numerous successful gambling options up and running. That includes Maryland, which recently launched its first sportsbooks.
As of now, only land-based sportsbooks are up and running here. These are all located inside licensed casinos, including the ones listed above. As the weeks go on, more residents are calling on lawmakers to allow for the launch of online sportsbooks.
This is expected to happen in 2022. Members of the Maryland Gaming Commission have been working to finalize a set of laws to get online sportsbooks up and running. All signs point to the launch of online sportsbooks in Maryland taking place in the third quarter of the year.
Sports betting revenue will likely continue to increase as the months go on. More sportsbooks are opening in this state and internet sportsbooks appear to be on the horizon. The casinos are thriving too and revenue from this industry will likely surge over the next twelve months.
Competition in the Northeast gambling industry is ramping up constantly. Let’s take a quick look at what states’ gaming industries are expected to thrive this year.
Competition in the US Gambling Industry Continues to Ramp Up
Many analysts were surprised to see how quickly the US gambling industry managed to bounce back in 2021. The year prior to that, this industry appeared to be on the brink of collapse. Things can change fast and many states are now ramping up their gaming industries in hopes of generating major revenue surges.
New York is one state working hard to bring in more gambling revenue. This state is set to launch its first online sportsbooks this weekend. New casinos are expected to open here soon, too, and certain lawmakers are supporting the move to open a casino in New York City.
Massachusetts is home to three casinos. Each one helps to bring the state a huge amount of tax revenue each month. All signs point to sports gambling becoming legal in Massachusetts before the end of 2022.
Other states such as Connecticut and Rhode Island are allowing new forms of gambling, too. Competition in the US gambling industry has never been higher. We’ll be sure to report on the revenue figures earned in these various states as the months go on.
Are you surprised to see how well Maryland’s casino industry did in December? How will this state’s gaming industry fare in 2022? Let us know in the comments section below.