Maryland Casinos Buck Trend, Post Revenue IncreaseState's Six Casinos Saw A Slight Year-Over-Year Jump In September Winnings |
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While many gambling markets around the world are struggling, Maryland is actually posting a year-over-year increase in September’s gross gambling revenue.
According to numbers released by state regulators, Maryland’s six casinos won $143.7 million from gamblers last month. Those figures represent a 1 percent jump from September 2019. It is the first time since February that the casinos saw an increase in year-over-year revenue since February.
That might not seem like much, but major casino markets all over the globe are posting massive drops in revenue. The world’s biggest gambling market, Macau, has posted 90 percent declines for the last six months. In August, Nevada reported a 22 percent decrease statewide, but the Las Vegas Strip experienced a nearly 40 percent fall.
In just its third full month since reopening in mid-June, Maryland is one of the few gambling markets that have posted a year-over-year increase. It did so while operating at 50 percent of its capacity.
The Horseshoe Casino in Baltimore reported a 5.1 percent drop with $17.6 million in revenue, while the state’s largest casino, MGM National Harbor was nearly breakeven from last year, down 0.4 percent with $57.5 million.
Live! Casino & Hotel won $49.2 million, good for a 3 percent gain and the three smaller casinos in the state all posted gains of at least that percentage. Ocean Downs was also up 3 percent, Rocky Gap Casino jumped 5.2 percent and Hollywood Casino had the biggest gain of any casino in the state with a 12.6 percent.
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