Per a report from a regional outlet in the state, the Maryland gaming business is off to a great start for summer 2022. This particular article reported that with nearly $180 million ($178.7 M) in revenue, last month was the second-best month on record in the Old Line State. Last month’s revenue represented a 3.7% improvement over last May’s results and was even higher than it was in 2019 (17.4%). In fact, this last month’s revenue results trail only July of 2021 when Maryland casinos pulled in a record $180 million from customers.
Here SBS will go over some other information from this update from Maryland and also some other things you should know about gaming in the Old Line State.
The analysis given in the report thinks that given the tremendous momentum already seen this year, the July record could be in danger of falling sooner rather than later. According to the article, with pandemic concerns much more at ease than they have been, along with sports betting now online at five different properties, the Maryland gaming market is poised to reap the rewards. In terms of establishments, for May alone, there were some big company winners in the Old Line State.
Leading the way in revenue in Maryland were the MGM National Harbor and the Live! Casino & Hotel Maryland. Last month the MGM location accrued nearly $76 million in earnings from its customers. Meanwhile, the latter property won $62.7 million of the bets at the Live! Location. Per the article from Casino.org, the two casinos combined for $138.7 million, which was good for nearly 77% of the Maryland state gaming market. In third place was Caesars Entertainment’s Horseshoe Baltimore, which pulled in $17.6 million. Three other resort-style casinos were responsible for the remaining $22.4 million in state gaming revenue.
The report also pointed out some interesting notes about the Horseshoe. For instance, the property has been struggling for some time now as the location in Baltimore saw its gross gaming revenue (GGR) decline more than 9% from May of last year. The breakdown mainly attributes this to the casino being in an unfavorable location in downtown Baltimore. Nonetheless, it would appear that Caesars is intent on spending a lot to revitalize this corridor of the city, which also includes two professional stadiums (M&T Bank Stadium and Oriole Park at Camden Yards).
Per sources, expanded gaming in the state isn’t expected to provide significant revenues until online wagering is given the green light. While sports betting has commenced at the majority of casinos in Maryland, there are still some hurdles to clear for mobile wagering. As SBS has touched on in the past and also echoed in this report, the path to authorizing mobile sportsbooks in the Old Line State is a tough one.
According to the article, many officials from Maryland casinos are ready to commence their online sportsbooks once given the go-ahead. In a perfect world, they would like for this to get ironed out prior to the upcoming NFL season. However, the chances of that happening are dwindling by the day, according to many in the Maryland gaming industry. So it remains to be seen if gaming operators in the state will be able to reap the rewards prior to kickoff.
As you are tracking all the different news coming out of Maryland, another great resource to have always-on tap is our Maryland sports wagering guide. On this fantastic page, you can find a plethora of information like live betting and casino info in the state, along with all kinds of promotions and welcome bonuses. In regards to the latter, SBS has done a lot of the hard work for you by putting together our welcome bonuses overview, which details the latest and greatest offers to boost your bets. Finally, if you need more info on which ways to place your wagers, then our payment options breakdown page details a ton of great ways to place your bets, depending on your preference.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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