Maryland Casinos Put up File Income Month in March
Posted on: April 6, 2021, 08:41h.
Final up to date on: April 6, 2021, 08:41h.
Maryland casinos marched to the beat of a unique drum final month amid a pandemic, because the state’s six industrial land-based casinos reported file income.
Gross gaming income (GGR) in March totaled greater than $169.1 million. In contrast with March 2020, which was the onset of the COVID-19 pandemic and led to Maryland Gov. Larry Hogan (R) ordering the casinos to shut, March 2021 represented a 146.4 p.c year-over-year achieve.
Early final month, Hogan lifted capability limits on the casinos that had been in place because the gaming properties reopened final June.
March’s $169.1 million GGR haul tops the state gaming trade’s earlier all-time better of $163.2 million, which was set in March of 2019. The state collected $71 million in gaming taxes final month, with greater than $51.6 million to going to the state’s Training Belief Fund.
On line casino Comeback
Some well being consultants are involved relating to a fourth wave of the coronavirus spreading throughout the nation. In Maryland, the state has skilled a 37 p.c improve in new instances over the previous two weeks.
Maryland’s industrial gaming trade predominantly depends on three casinos — MGM Nationwide Harbor, Dwell! On line casino & Resort, and Horseshoe Baltimore.
MGM is in Prince George’s County the place new COVID-19 instances are up 18 p.c. Dwell! is in Anne Arundel the place instances have climbed 15 p.c, and Horseshoe is in Baltimore metropolis the place instances have skyrocketed 55 p.c. However regardless of the case climbs, Marylanders are apparently able to get out and again to some sense of normalcy.
Because it nearly all the time does, MGM led the best way in March when it comes to GGR. The on line casino simply exterior DC received $66.5 million, up six p.c from March 2019. (Be aware: we’re evaluating March 2021 with 2019 numbers, since casinos have been closed for a lot of the month in 2020).
Dwell! was subsequent at $61.1 million, a 9.2 p.c bounce on March 2019. Horseshoe was third at $19.7 million. The Caesars Leisure property continues to battle, as final month was a 22.7 p.c loss in contrast with March 2019.
Whereas Hogan is permitting all six state casinos to function freed from state-ordered capability limits, native ordinances in Baltimore and Prince George County proceed to restrict the MGM and Horseshoe gaming flooring to 50 p.c capability.
The state’s three smaller resort-style casinos — Hollywood On line casino Perryville, Ocean Downs in Berlin, and Rocky Hole Resort — collectively received $21.7 million.
Sports activities Betting Coming
The NCAA males’s March Insanity basketball event, one of many biggest-bet occasions of the US sports activities betting calendar, ended final evening. And whereas Maryland casinos missed out on the annual tourney, they hope to have their sportsbooks up and operating in time for the NFL and faculty soccer seasons.
Maryland voters authorized legalizing sports activities betting final November. The state Home has authorized a plan to permit in-person sports activities betting at casinos, professional sports activities stadiums, and horse racetracks. The laws moreover permits for as much as 15 cellular sportsbook permits.
The invoice is pending within the Senate, with lower than every week to go earlier than the Maryland Common Meeting is about to adjourn.