Maryland casinos had a historic month in May as gaming operators set data for gross gaming income.
According to numbers launched by the state’s lottery, which oversees the Maryland brick-and-mortar gaming trade, the six industrial casinos reported $172.4 million in income. It set a brand new document for the most important month-to-month income report, topping the earlier document set only a couple months in the past in March, when casinos received $169.2 million from gamblers.
The year-over-year comparability just isn’t relevant since Maryland casinos had been closed in May 2020 in response to the COVID-19 pandemic. Gov. Larry Hogan saved the gaming trade shuttered from mid-March of final 12 months till June 19.
Since the pandemic started, few playing markets have seen as a lot success as Maryland. A current report from the American Gaming Association revealed that Maryland casinos generated a few of the highest playing revenues within the nation in 2020.
Last fall, whereas practically each regional on line casino market was begging gamblers to return, Maryland was certainly one of only a couple areas that really posted year-over-year income will increase. Its proximity to Atlantic City, which was an space that was hit with a few of the harshest restrictions, possible had one thing to do with this, however can’t be confirmed.
These numbers have all come earlier than the Ocean State launched its sports activities betting market, which was legalized by a poll initiative final November. The initiative solely requested the voters whether or not sports activities betting ought to be authorized and didn’t create a regulatory framework for the trade. Hogan signed a invoice a couple of weeks in the past that helped put guidelines in place for each on-line and retail sports activities betting.
The market is predicted to be rolled out this fall, which ought to assist propel revenues even larger.
In May, casinos paid $73.4 million in taxes, most of which went to the state’s Education Trust Fund.
