Maryland casinos records 163.4m gaming revenue in November

In the month of November, the six Maryland casinos unanimously generated gaming revenue of $163.4 million. This is a 1.9 percent increase when compared to the gaming revenue of November 2021. However, this figure is a 30 percent decline from the revenue generated in October 2022, which was $212.9 million.

The MGM National Harbor was one of the major contributing operators to the November turnout, as the provider single-handedly generated $71.6 million, which was a 5.5 percent yearly increase for them. The MGM National Harbor and Horseshoe Casino were the only two casinos that recorded an increase in revenue in November. The latter had $16.3 million in revenue, which is 4.2% year-on-year growth.

On the other hand, the four remaining casinos witnessed a decline in revenue for the month of November. Live Casino & Hotel, generated $57.1 million, Hollywood Casino came in with $6.6 million in revenue, Ocean Downs Casino generated $6.6 million, and Rocky Gap Casino garnered $4.8 million.

The revenue from the casino alone was $67.7 million, which was 8 percent when compared with November 2021. The six Maryland casinos all jointly donated about $49.25 million to the Maryland Education Trust Fund (ETF). The revenue generated from casino gaming also went toward providing necessary aid to the communities and localities that are home to casinos. They also channeled their contributions to women-owned businesses and the Maryland horse racing sector.

Maryland online betting only just began in the month of November due to the facilitation that was imposed by state Governor Larry Hogan. According to data provided by GeoComply, a company that utilizes location detection software, about 16.5 million online sports betting geolocation transactions were made from November 23, which was the launch date, to November 27. About 477,365 betting accounts were created within this period.

The senior vice president of compliance at GeoComply, Lindsay Slader, noted that this record shows a promising future for the online industry that has just kicked off in the region.

“A strong start for the regulated market delivers on the promise of new revenues and consumer protections. Marylanders will continue to ditch illegal offshore sportsbooks for the security of legal, regulated operators that provide player safeguards and tax dollars for the state, just as lawmakers intended,” said Slader.

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