Maryland is home to just over six million people. Interestingly, this small state in the Northeastern United States is developing quite the gambling industry. New reports have just surfaced showing that Maryland’s casino revenue took a slight dip this past August.
This is certainly no cause for concern. In fact, Maryland’s casino revenue is still performing great. Today, we’ll talk about how much money the casinos here managed to bring in last month.
Let’s get into it!
Reports Show a Drop in Maryland’s Casino Revenue This August
The casino industry in Maryland is only about a decade old. The first true Class III gambling venue here opened its doors in January of 2011. Since that time, five more casinos have opened here, all of which attract gambling fans on a regular basis.
Maryland’s casino revenue has broken records several times this year. The months of March, May, and July were particularly successful months for this industry. It seems that August was not quite as lucrative for the casino companies operating here.
Total gross gaming revenue in the state came out to $168.5 million. This represents a slight drop from the $180 million brought in last July. It is an impressive 12% increase in revenue when compared to August of 2020, though.
MGM National Harbor, which opened its doors in December of 2016, had the best month by bringing in more than $67 million. Live! Casino & Hotel came next at $59.5 million. Rocky Gap Casino performed the worst by bringing in just $5.9 million in total GGR.
Maryland will never be home to a casino industry that competes with the ones in Nevada and New Jersey. The casinos here still continue to perform well. Stay tuned for more revenue report updates as the year goes on.
Lottery Commission Delays the Launch of Maryland’s First Sportsbooks
Maryland is known for its large, passionate sporting fan base. Residents have been calling for sports betting to become legal in the state since PASPA was removed in 2018. In November of 2020, lawmakers here officially approved a set of bills to allow land-based and online sports gambling.
Since that time, regulators have been working to come up with a set of rules for this new form of gambling. Much of this has fallen into the hands of the Maryland Lottery Commission. This regulatory body has just announced that the launch of Maryland’s first sportsbooks is being delayed.
The original goal was to have these sports betting operations up and running by the opening game of the 2021/2022 NFL season. Unfortunately, the Lottery Commission has not agreed on several rules for this industry. That includes coming to agreements on how many sports betting licenses will be handed out.
Officials here remain determined to launch sports betting options as soon as possible. It’s reasonable to assume that sportsbooks will become available here at some point in the next few weeks.
Maryland is far from the only state set to expand its gambling industry this year. Here’s a quick look at some of the other areas of the country about to allow more forms of gambling.
More States are Set to Expand Their Gaming Options
The United States is home to the largest gambling industry in the world. Many states are now home to successful casino and sports betting industries. As the years go on, more areas of the country are working to add more regulated gaming options in hopes of bringing in tax revenue.
Washington is one of those areas. This state is already home to a huge number of casinos owned and operated by Native American Tribes. This week, the first regulated sports betting options will finally go live here in time for the opening game of the NFL season.
Arizona is another state set to begin offering sports betting this week. Lawmakers have needed to come to several key agreements with tribal groups in the state. Both land-based and online sportsbooks will soon go live here.
States including Florida, Connecticut, and Louisiana are working hard to get their first sportsbooks operational, too. All are likely to do so within six months. It will be interesting to see which of these states see the largest increase in gaming revenue, as a result.
Are you surprised to see Maryland’s casino revenue reports for the month of August? How do you think the casinos here will fare over September? Let us know in the comments section below.