Maryland casinos gain momentum as April revenues hit third best record

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Maryland Gamblers’ thirst for casino visits during the COVID-19 pandemic has been successfully quenched. If last month’s results are any indication, the state’s gaming industry could see a quick rebound after facing a gruesome 2020 that saw casinos shut down or operating at significantly reduced capacity for much of the business. of the year. Maryland Lottery and Games, which oversees the state’s casinos, just released final revenue figures for April 2021, and the total for Maryland’s six casinos was 11.6% higher than in April 2019.

Maryland casinos are back on track

Maryland casinos were closed in April of last year due to COVID-19, so revenues were a complete collapse. Gaming properties are trying to make up for lost time, reporting total revenue of $ 162.1 million for the past month. This was $ 16.78 million more than in April 2019, when the properties combined for $ 145.236 million. Given that this broke record March revenues to give the state two straight months of significant returns, casinos in Maryland look set for an even brighter 2021.

It could also be a good sign for the state’s efforts in sports gambling. Maryland is moving closer to establishing a legal sports betting market. It could be one of the strongest in the country, with all the casinos, the state’s three professional sports teams, racetracks, off-road betting sites and already more qualified for licenses. There will also be 60 mobile sports gambling operator licenses allocated, which will allow the state to enjoy huge profits from sports betting.

MGM National Harbor stands alone

According to the lottery, MGM National Port was the big winner last month. It reported revenue of $ 62,254 million, a 2.5% increase from its April 2019 performance. What makes this result more impressive is the fact that the casino has it. achieved by operating at 50% of normal capacity for the entire month. He and the Horseshoe Casino were required to keep restrictions in place while the other four state properties returned to full capacity. Meanwhile, the Horseshoe’s revenue fell less than 1% from April 2019 to $ 19.67 million.

To follow closely MGM Success, Live! Casino & Hotel, operating about 870 more slot machines and 13 fewer table games than MGM, had sales of $ 58.217 million. This was a significant increase of 21.7% from the $ 10.38 million recorded two years earlier. Hollywood Casino, which has 604 slots and 16 table games, grossed $ 8.52 million, 36.5% more than in April 2019.

The real winner could be Maryland Education Trust Fund (ETF). Casinos gave the state $ 69.92 million last month – 16.1% more than two years ago – and of that $ 50.8 million goes to the ETF. This represents a 12.4% increase over the amount donated in April 2019.



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