Gambling performance in Maryland remain strong after the Maryland Lottery and Gaming has posted the latest results for January, revealing a decent increase. Gambling amassed estimated $145,466,952 in total revenue across the board, constituting 6.2% increase year-over-year (YOY), one of the strongest this year.
Maryland’s gambling operators collected $8,471,517 more than the same month in 2019, marking a tangible increase in the overall results. Casinos alone pumped up $60,208,740 to the state’s coffers, including a generous $45,161,218 payment to the Education Trust Fund.
Gambling has been growing and notwithstanding fears of problem gambling, local communities have been benefiting from the tax remittances. As of this moment, Maryland operates six casinos where table and slot gaming is offered, including:
- MGM National Harbor
- Live! Casino & Hotel
- Horseshoe Casino Baltimore
- Ocean Downs Casino
- Hollywood Casino Perryville
- Rocky Gap Casino Resort
The biggest winner was MGM National Harbor which scoped up $58,526,509 of the total handle, making for a very strong month indeed. Yet, the Harbor wasn’t the biggest winner. Instead Live! Casino & Hotel generated 11.8% more revenue, followed by Ocean Downs Casino with 11%.
Yet, both casinos lagged behind Hollywood Casino Perryville which saw its own results go up 12.1%. All properties in Maryland offer a massive number of slots. Interestingly though, the increase in Hollywood Perryville was the largest, even though the casino has the smallest slot capacity overall.
Too Early for Online Gambling in
Presently, everyone seems to be focused on opening up to sports betting in the US, so online casinos are only second when it comes to discussing gambling in general. Maryland doesn’t have any strict laws against playing at online real money casinos such as ones found at casinosites.us but yet, Little America doesn’t really have the ambition to introduce online gambling any time soon.
Home of some six million people, this may be just about the right decision, given that the six properties are still driving some impressive results. Adding iGaming solutions always risks impacting the brick-and-mortar bottom line.
However, the upsides of iGaming are also there. For starters, gambling can be made more accessible, incentivizing Maryland residents to play without having to travel down to an actual casino. This usually comes as one of the strongest upsides of opting for casino gaming.
Yet, Maryland is a living example that casinos in their traditional form also have a place under the sun. Nevertheless, with the addition of iGaming solutions, results would potentially shoot up. Pennsylvania, for example, has had a strong land-based segment that suffered from the arrival of online gambling and casinos, but revenue as a whole, shot up.
Of course, by needing smaller staffs, casinos are also not as helpful to the state’s coffers – or would not be – a popular argument goes. But then again, it’s up to analytics firm to calculate whether the increase in overall gambling handle would offset the potential loss that could ensue after laying off casino staff because of redundancies.
So far, only three states offer online casinos, to name Delaware, Pennsylvania and New Jersey. Even Nevada, the gaming Mecca of the world and the United States in particular, is reluctant to introduce iGaming.