Maryland Casinos Start 2022 with $153.75 Million in January Revenue

Maryland Casinos Start 2022 with $153.75 Million in January Revenue
By Bill Ordine

The state of Maryland enjoyed a tax collection from its six casinos of nearly $62.5 million in January with most of that money, close to $45.5 million, going to the state’s Education Trust Fund, the chief beneficiary of casino taxes.

Overall, the state’s six casinos saw a combined $153.75 million in revenue during January, an increase of 19.4% from January 2021 when the industry was operating under COVID-19 capacity restrictions.

The casino financial picture in Maryland is dominated by the two biggest performers, MGM National Harbor in Prince George’s County near Washington, D.C., and Live! Casino & Hotel in Anne Arundel County, just south of Baltimore. Together, those two casinos accounted for about 79% of all casino revenues.

MGM National Harbor had about $67 million in revenue for January, a 32.8% increase over the same month a year ago.

The second top operation, Live! Casino & Hotel, had about $54.6 million in January revenue, an increase of 14.4% over 12 months earlier.

Numbers from Other MD Casinos

The January 2022 revenue figures for the four other Maryland casinos were:

  • Horseshoe Baltimore, along the city’s southern gateway, $16.1 million, a 17.1% increase from January 2021;
  • Hollywood Casino in Cecil County, $6.65 million, a 2.8% decrease from the same month in 2021;
  • Ocean Downs Casino in Worcester County, almost $5 million, a decrease of 12.3% from January 2021;
  • Rocky Gap Casino in Allegany County, about $4.3 million, a 1.8% increase from January 2021.

In addition to substantially propping up funding for education, casino taxes also support the communities and jurisdictions where the casinos are located, Maryland’s horse racing industry, and small, minority- and women-owned businesses.

MD Retail Sports Betting Has Started

Maryland sports betting started in December 2021 and those financial figures are reported separately from the casino revenues. So far, Maryland sports wagering is limited to retail only with sportsbooks currently located in five of the six casinos.

The first three retail sportsbooks went live in the same week — MGM National Harbor on Dec. 9, followed by Live! Casino & Hotel (opened Dec. 10) and Baltimore Horseshoe Casino (Dec. 10). Two others — Ocean Downs Casino (Dec. 17) and Hollywood Casino (Dec. 23) opened later in the month.

On Dec. 9, Maryland Gov. Larry Hogan made the first bet in the state at the BetMGM Sportsbook in MGM National Harbor.

The five retail sportsbooks had a combined $16.55 million in wagering handle and had taxable win of $3.17 million in December.

Online Sports Betting Targets 2022 NFL Season

While online sports wagering has been legalized, the director of Lottery and Gaming, John Martin, said he doesn’t anticipate online sports betting to launch until about the start of the 2022 NFL season because of the state’s complex application process.

Real money online casino have yet to be legalized in Maryland.

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Contributors

A longtime reporter and editor who began writing on casinos and gaming shortly after Atlantic City’s first gambling halls opened, Bill covered the world Series of Poker and wrote a syndicated column on travel to casino destinations for a decade.

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