Maryland Casinos Close Out the Year With Another Strong Performance

Maryland Casinos Close Out the Year With Another Strong Performance

The casino business continues to peak, and Maryland reported some of the best numbers in the last 12 months. According to state authorities, earnings for December 2021 reached the $172.9 million mark, making it the second-best recorded by the state in its recent era of gambling endeavors.

According to state authorities, December 2021 almost topped the best mark in the state’s history. However, back in July 2021, the state achieved a total of $180.1 million that has not yet been surpassed.

Back in May, the state also topped the $172.4 million mark. Maryland’s casinos continue to prove themselves as some of the most consistently lucrative in the U.S.

This is the expected tendency for gaming industry experts as more revenue generated from gambling and sports betting will tend to increase in subsequent periods.

Once again, Maryland has relied on its continued proposal to support gambling and sports betting by its six leading casinos. These have proven sufficient enough to break million-dollar earning records since sports gambling became legal in the state.

Casino Revenues to Remain on a Steady Increase

Authorities reported that compared to December 2020, Maryland Casinos made over 45% more in earnings this year. This marks a turning point for the state’s gaming industry as experts predict these increasing figures will continue on a steady upward path.

In 2021, revenue from sports betting and gambling topped $44 billion. This record came at an unexpected time, and perhaps the figure itself was never imagined this early in the post-COVID 19 recovery. Nevertheless, it appears that the gradual opening of states’ markets to the gaming industry has led to significant benefits.

Maryland’s six top casinos led the way to major earnings in December. The list is comprised of Live! Casino & Hotel, MGM National Harbor, Horseshoe Casino Baltimore, Hollywood Casino Perryville, Rocky Gap Casino Resort, and the Ocean Downs Casino.

It was the MGM National Harbor Casino that topped the list with the highest earnings. Authorities recorded a total of $74.5 million in revenue just from the MGM, followed by Live! Casino with $62.4 million.

The Horseshoe Casino came in third place, having reported over $17 million. The rest of the establishments on the list reported less than $10 million.

Authorities’ Take On the Big Scale Earnings

Government officials are pleased with the results the casinos are seeing after the COVID-19-induced shutdowns. Maryland Lottery and Gaming Director John Martin views the entire situation with optimism. According to him, earnings had an exponential increase due to holiday season action.

He congratulated the casinos and their service to Maryland residents. In the end, significant gains will always reach the state government.

Just for December, Maryland authorities reported a total of $71.1 million in contributions which came in the form of taxes and other reforms applied to the gaming industry. Since its approval in 2019, Maryland has continued to view the gaming industry as another business sector that flourishes in the state and one that continues to pay off for all parties involved.

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