Maryland’s Casino Revenue is Increasing Right Now

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Industry

In most areas of the world, casino revenue is much lower this year than what it was in 2019. That doesn’t appear to be the case in Maryland, though. New reports indicate that Maryland’s casino revenue increased for the first time in months this September.

It’s great news for casino companies here. Despite the difficulties, Maryland is proving that land-based casinos can still succeed. Today, we’re going to look at how much the gambling venues managed to bring in last month.

Let’s get into it!

US Casino Markets Are Slowly Beginning to Recover

The past seven months have been extremely difficult for the US casino industry. For a time, all of the country’s gambling venues were completely shut down. As time went on, different states began allowing their casino industries to open at different times.

Most of the attention has been placed on Nevada. This state is home to some of the largest casino destinations in the country. That includes Las Vegas, which reopened this past June.

Casino revenue has been fluctuating in different states. Over in Nevada, casino revenue remains significantly lower than it was last year. Things are improving, however, and several exciting new gambling venues are set to open in this state over the next six months.

New Jersey is now home to the second-largest gambling destination in the country. Interestingly, the sports betting industry has been surging as of late. In August, for example, the state set a new US record for sports betting revenue.

Things are far from normal for casino operators in the US. Some are clearly faring better than others, yet it may be years before things return to the way they were before March. There seems to be only one state that is actually earning more money now than it was in the past.

Here’s a look at how much Maryland managed to bring in last month.

Maryland’s Casino Revenue Surged in September

Maryland is currently home to six different casinos. This state isn’t typically known for being a major gambling destination, yet revenue from this industry has been gradually increasing for the past few years. Back in March, all of Maryland’s casinos completely shut down.

Eventually, state leaders gave the green light for these properties to reopen. Unsurprisingly, the casinos saw a very small number of gamblers for the first few months they were reopened. Things are improving now, though.

New reports show that Maryland’s casino revenue was higher this September than in September of 2019. Not many analysts saw this coming. It seems this state is home to a huge number of gambling fans willing to play inside actual casinos.

Over the month of September, the casinos in Maryland earned $143.7 million. That’s 1% more than what was brought in last year. The state itself will earn $59.7 million through various programs.

It’s not a shock to see that the MGM National Harbor earned the most revenue at $57.5 million. Live! Casino & Hotel came next at $49.2 million. The Horseshoe Casino in Baltimore earned $17.6 million.

Casino companies around the country have to be taking notice of this jump in revenue. It proves that these venues can still perform, even during these tough times. Hopefully, we begin seeing similar trends in other parts of the country soon, as well.

When Will Maryland Legalize Sports Betting?

Every state is desperate for more money right now. Officials in Maryland have to be pleased to see this new surge in revenue. Some now feel that it’s time for this state to officially legalize and regulate sports gambling, as well.

Not long after PASPA was struck down in May of 2018, lawmakers proposed a bill to formally embrace this form of gambling. Unfortunately, it failed to make any progress and was scrapped at the end of the year. 2020 could be the year sports betting is finally approved here.

This November, a measure to legalize sports betting in Maryland will appear on the voting ballots. According to some reports, the public is split on this idea. Senator Chris West believes it should be approved, as sports betting is taking place in other states already.

“Maryland kind of sticks out like a sore thumb, and the same thing is happening with sports gambling that used to happen to gambling in Maryland, which is the people who want it to go to other states,” West said.

It seems highly likely that sports gambling will be approved here. Based on what’s happening lately, Maryland may grow to become one of the biggest gambling destinations on the East Coast. Stay tuned for updates over the next few months!

Are you surprised to see Maryland’s casino revenue surge? Do you expect sports betting to become legal here this year? Let us know in the comments section below!

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...

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