/** * dev demo deploy */ //dev demo or none if (!defined('TD_DEPLOY_MODE')) { define("TD_DEPLOY_MODE", 'deploy'); } do_action( 'tdc_header' ); if ( has_action( 'tdc_header' ) ) { return; } ?>

Maryland Casinos See Play Subside in February 2023

Must read

[ad_1]

Posted on: March 7, 2023, 11:00h. 

Last updated on: March 7, 2023, 11:00h.

Maryland casinos won a record amount of money from gamblers in 2022. The six commercial properties kicked off 2023 strong, but they experienced a slowdown last month.

Maryland casinos gaming revenue sports betting
The Horseshoe Casino Baltimore gaming floor is seen rather empty. Maryland casino revenue slowed in February 2023, but the health of the state gaming industry remains hearty. (Image: Baltimore Business Journal)

Gaming revenues supplied by the Maryland Lottery and Gaming Control Agency revealed that the casinos won $157 million in February 2023. That’s a 3.6% year-over-year decrease, or a decline of about $5.9 million from February 2022.

MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Rocky Gap Casino Resort, and Hollywood Casino Perryville won more than $2 billion in 2022 from their slot machines and table games. The record-setting revenue experienced last year represented a nearly 7% year-over-year improvement.

Maryland Casino Revenue

  • $2.05B — 2022
  • $1.92B — 2021
  • $1.22B — 2020
  • $1.75B — 2019
  • $1.74B — 2018
  • $1.61B — 2017
  • $1.20B — 2016
  • $1.09B — 2015

MGM National Harbor, the market leader in Maryland, opened in December 2016. The integrated resort operated by MGM Resorts led the way last year with GGR of $884.4 million.

2023 Slowdown?

Maryland casinos continued their 2022 run into the new year with a prosperous January. Gross gaming revenue (GGR) totaled just shy of $167.3 million — an 8.8% gain on January 2022 that kicked off the state gaming industry’s record-setting campaign.

The state gaming industry had managed ongoing inflation and economic concerns, but the more than 12-month rally finally slowed in February. National Harbor reported nearly flat GGR of $65.6 million, a 0.4% year-over-year decline.

But Live! Casino, the second-richest casino in Maryland, saw GGR drop more than 6% to about $55.7 million. Horseshoe Baltimore’s year-over-year decline was even greater at an 8% drop to $16.3 million.

The state’s three resort casinos combined to win about $19.4 million — a decline of about 3%. Ocean Downs was the only Maryland casino to report a year-over-year GGR gain in February 2023 at 3.7%. The casino owned and operated by Churchill Downs, Inc., won $6.8 million.

February 2023 had the same number of weekend days — eight — as February 2022. There was also no significant weather last month that could be cited for the gaming regression.

Sports Betting Benefit

Should the February casino trend continue into March and throughout 2023, some of the year-over-year comparable losses will be partially offset by the addition of online sports betting.

Gambling on professional and college sports in the Old Line State began in person at the state’s casinos in December 2021. But online sports betting, which Marylanders also authorized through a November 2020 referendum, only began in mid-November 2022.

In December, online sportsbooks accounted for more than $478.2 million of the $497.2 million wagered on sports. Oddsmakers said they kept nearly $85.2 million of the bets on a strong 17% hold. Online books won $82.3 million.

Online sportsbooks continue to battle for market share with substantial promotional incentives for new customers. The December handle included more than $70.9 million in free bets.

Bettors tend to place free wagers on events with longer odds than they otherwise would with their own money. That led to the significant hold rate.

In January, promotional bets slowed, as bettors who were eager to wager legally online have used much of their incentives. Promotional wagers in January totaled about $21.8 million.

January GGR from sports betting totaled $59.6 million on a 13.5% hold. February numbers have not yet been revealed.

[ad_2]

Source link

More articles

Latest article

Ibu Nuraini Pkl Di Cikedung Menang Rp182 Juta Berkat Mahjong Ways 2 Pak Hamid Petani Sukagumiwang Auto Hepi Dapat Jp Mahjong Ways 2 Ibu Sriatun Pedagang Keliling Pasekan Tembus Multiplier Mahjong Anak Kosan Lohbener Main Mahjong Ways 2 Pukul 02 11 Dan Menang Besar Ibu Hj Marni Guru Ngaji Di Balongan Dapat Hoki Lewat Mahjong Ways Pak Rudi Kuli Pasar Juntinyuat Bisa Beli Hp Baru Dari Mahjong Ways 2 Ibu Eni Warung Nasi Di Jatibarang Kaget Lihat Saldo Mahjong Naik Mahasiswi Kroya Main Mahjong Ways 2 Sambil Belajar Dan Tembus Jp Ibu Wulan Penjual Kue Di Kertasemaya Dapat Scatter Beruntun Mahjong Pak Ramlan Sopir Angkot Gabuswetan Dapat Rp179 Juta Dari Mahjong Cara Wd Mahjong Ways Lewat Bomjitu Bomjitu Bikin Wd Jadi Gampang Main Di Bomjitu Auto Wd Mahjong Wd Setiap Hari Dari Mahjong Bomjitu Trik Wd Mahjong Paling Cepat Di Bomjitu Bomjitu Tempat Wd Mahjong Ways Tercepat Maen Mahjong Wd Cepet Pakai Bomjitu Wd Gampang Lewat Bomjitu Mahjong Bomjitu Rahasia Wd Mahjong Ways Cara Cepat Wd Slot Mahjong Di Bomjitu Lansia Penyortir Sampah Di Sleman Kaget Usai Angka Mahjong Ways 2 Turun Penuh Rekan Tukang Pengecat Rumah Di Subang Diam Tak Berkata Saat Mahjong Ways 2 Berputar Remaja Pengantar Galon Di Ciledug Terpaku Lihat Golden Pattern Mahjong Ways 2 Buruh Jahit Lepas Di Serang Gigit Jari Lalu Senyum Karena Mahjong Ways 2 Muncul Penjaga Parkir Malam Di Krian Gemetaran Saat Simbol Mahjong Ways 2 Berderet Kegabutan Siang Bikin Ezzar Main Mahjong Dan Menang Rp 12.300.000 Cerita Nadhifa Dapat Kejutan Dari Mahjong Saat Lagi Di Kereta Main Mahjong Di Teras Malam Hari Bikin Khaled Freespin 3x Tanpa Niat Serius Debby Malah Raih Rp 4.750.000 Dari Mahjong Fathan Nekat Main Mahjong Karena Diajak Teman Akhirnya Menang Ibu Rahma Pedagang Kue Pagi Di Pasekan Menang Rp174 Juta Dari Mahjong Pak Salim Petani Lohbener Dapat Hoki Lewat Simbol Emas Mahjong Ways Ibu Santi Pkl Di Balongan Kaget Lihat Saldo Naik Main Mahjong Ways Anak Warnet Di Sliyeg Menang Jam 03 12 Karena Multiplier Mahjong Ibu Marsini Warga Juntinyuat Tembus Jp Dini Hari Dari Mahjong Ways Pak Rusdi Sopir Truk Kroya Auto Hepi Bawa Pulang Rp193 Juta Mahjong Ibu Lestari Penjaga Warung Jatibarang Dapat Kejutan Scatter Mahjong Pemuda Bangodua Main Mahjong Ways 2 Saat Subuh Dan Menang Besar Ibu Nurul Guru Paudd Di Kertasemaya Dapat Rp168 Juta Dari Mahjong Pak Jatmiko Kuli Angkut Cikedung Beli Motor Dari Mahjong Ways 2 Pola Gacor Mahjong Ways Di Suletoto2 Bikin Saldo Meledak Terus Trik Main Mahjong Ways Suletoto2 Auto Menang Dengan Rtp Tinggi Rekomendasi Pola Mahjong Ways Suletoto2 Terbukti Bikin Cuannya Deras Rtp Live Mahjong Ways Suletoto2 Hari Ini Bikin Banyak Yang Wd Pecahan Tanpa Henti Di Mahjong Ways Suletoto2 Netizen Heboh Borongan Rekomendasi Waktu Terbaik Main Mahjong Ways Di Suletoto2 Biar Auto Gacor Rtp Live Mahjong Ways Suletoto2 Hari Ini Pecah Parah Player Sampe Wd Pola Gacor Mahjong Ways Suletoto2 Bikin Player Banjir Pecahan Tanpa Henti Trik Viral Dari Top Player Mahjong Ways Suletoto2 Bisa Bikin Jp Tembus Rekomendasi Room Mahjong Ways Suletoto2 Dengan Rtp Tertinggi Malam Ini Pola Gacor Mahjong Ways Terbaru Di Kaisar800 Pecahan Tanpa Henti Trik Rahasia Mahjong Ways Kaisar800 Viral Pecahan Bikin Cuan Rekomendasi Pola Jam Main Mahjong Ways Kaisar800 Auto Pecah Rtp Mahjong Ways Kaisar800 Hari Ini Tertinggi Panen Pecahan Auto Gacor Mahjong Ways Kaisar800 Pola Spesial Pecahan 15 Menit Tiktok Heboh Trik Mahjong Ways Kaisar800 Modal Receh Jadi Jutaan Pemain Kaisar800 Bongkar Rekomendasi Jam Gacor Mahjong Ways Video Mahjong Ways Pecah Tanpa Henti Di Kaisar800 Trend No1 Influencer Bongkar Pola Gacor Mahjong Ways Kaisar800 Full Win Rtp Live Dan Pola Gacor Mahjong Ways Kaisar800 Bikin Heboh Netizen Pecah Full Layar Kali 10 Mahjong Ways Di Jentoto Bikin Netizen Heboh Viral Trik Mahjong Ways Di Jentoto Netizen Kaget Lihat Rtp Nya Tembus 99 Persen Auto Jp Dengan Pola Rahasia Mahjong Ways Jentoto Warganet Ramai Berbagi Trik Main Mahjong Ways Di Jentoto Pecah Layar X10 Bikin Fyp Terus Ibu Nuraini Guru Ngaji Di Bangodua Menang Mahjong Ways 2 Jam Ganjil Pak Darto Kuli Pasar Juntinyuat Bisa Beli Hp Baru Dari Mahjong Ibu Sulastri Penjual Sarapan Kertasemaya Dapat Rp175 Juta Mahjong Mahasiswi Jatibarang Main Mahjong Ways 2 Jelang Subuh Dan Menang Ibu Eni Warung Nasi Di Pasekan Dapat Hoki Digital Dari Mahjong Pak Surya Sopir Angkot Balongan Tembus Scatter Beruntun Mahjong Ibu Sari Penjual Kue Di Kroya Menang Mahjong Ways 2 Saat Hujan Deras Pak Sugeng Petani Lohbener Dapat Rp193 Juta Berkat Scatter Mahjong Ibu Nurhayati Warga Balongan Auto Saldo Naik Berkat Mahjong Ways 2 Anak Kosan Di Sliyeg Main Mahjong Ways 2 Subuh Dan Tembus Jp Ibu Rina Guru Honorer Kertasemaya Dapat Hoki Lewat Simbol Emas Mahjong Pak Jamal Kuli Pasar Jatibarang Menang Mahjong Ways 2 Jam Ganjil Ibu Umamah Pkl Pasekan Dapat Kejutan Digital Dari Mahjong Ways 2 Pemuda Bangodua Main Mahjong Ways 2 Dan Bisa Beli Laptop Baru Ibu Misnah Warung Makan Gabuswetan Dapat Rp185 Juta Dari Mahjong Pak Hamid Sopir Truk Juntinyuat Kaget Lihat Saldo Mahjong Ways 2