Maryland Casinos Thriving Post-Pandemic
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The coronavirus pandemic brought the hospitality industry to a halt in many parts of the United States. Restaurants, theme parks, and event venues were forced to close or limit their operations to help stem the spread of COVID-19. Casinos' revenue dropped 31% in the same year.
Maryland Casinos are thriving post-pandemic.
Last February 2021 was a difficult year for casinos. Every single Maryland casino reported a significant decrease in revenue. MGM National Harbor lost the most money. The success of casinos in August 2021 may give a more accurate look at the economic recuperation many industries felt over this summer.
Rocky Gap casino had a year-to-year decrease in revenue from February 2020 to August 2021. The six casinos raked in $168,459,348 in gaming revenue during the month of August. Contributions to the state came to $71,284,480, an increase from 2020.
MGM National Harbor made a 12.9% revenue increase. Hollywood Casino made 14.5% increase and brought in $7,768,635. Horseshoe Casino brought $18,001,130. Live! Casino and Hotel brought only $59,506,465. Ocean Downs Casino had the greatest percentage increase with 29.2% and a $2,228,658 difference from the previous year.
Maryland is planning to introduce sports betting to generate revenue. The state voted a sports gambling bill into action on April 12th, 2021. It will be late fall before Marylanders can start placing bets. Legislators and gamblers hope the law will come into effect before the NFL season. The law is not yet final. There will still be live dealer USA casinos and online games from local casinos like Live! Casino and Hotel. MarylandReporter.com is the original website covering government and politics in the Free State.
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