Maryland casinos ended their monthly gaming revenue glide finally month, as the sextet properties saw their combined win step-up past 1.4%.
The Free State Lottery and Gaming Control Commission reports that the commercial-grade brick-and-mortar casinos generated February revenue gaming revenue (GGR) of around $159.2 million. That represented a nearly $2.2 1000000 growth from February 2023.
State gaming taxes for the month increased well-nigh $872K to almost $67.8 million. Most of the task receipts — $48.9 one thousand thousand — go to the state’s Education Trust Fund to benefit K-12 public schools.
Questionable Gain
February 2024 benefited from having an additional 24-hour interval with it being a bounce year. With $159.2 zillion equating to well-nigh $5.5 trillion inwards day-after-day GGR, February 2024 would get pronounced a year-over-year diminish had it not been for the 29th day.
Retail gaming, or in the flesh(p) play at casinos, has been on a downward trend inwards Maryland and crosswise often of the country. Prior to February, Old Line State casinos reported year-over-year declines inward five of the previous sestet months, with December scoring the lone gain, and a marginal one at simply 0.3%.
Thanks to the favourable comparable with an special twenty-four hours in February 2024, Maryland casinos experienced their sec month of year-over-year development since August.
MGM National Harbor remained the richest cassino with the structured holiday resort alfresco of Washington, DC winning $66.8 million, a 1.9% melioration from Feb 2023.
Live! Casino Free State near BWI airport was, however, the to the highest degree responsible for(p) for the February gain. The Hanoverian line casino won to a greater extent than $59.3 million, a 6.5% year-over-year increase. Horseshoe Baltimore continued its woes, with the $15 one thousand thousand won representing an 8% GGR reduction.
The state’s triplet smaller casinos reported mixed results. Hollywood Perryville saw GGR climb up 1.4% to $7.4 million, but Ocean Downs reported a 7% microscope slide to $6.4 million, and John Rock Gap’s win drop almost 19% to $4.3 million.
The revenue is inclusive of slot machines and tabularise games. Sports betting win testament follow reported later past the nation gaming commission.
iGaming Considerations
During a gaming industry encounter this week inward New York, analysts said they think New York and Maryland are the likeliest states to next legalize iGaming. That’s not a huge surprise, as lawmaking to pass online slots and interactive tabularize games has been introduced in apiece state.
Senate Bill 603 inward Jan was filed inwards Annapolis by commonwealth Sen. Ron Thomas Augustus Watson (D-Prince George). The legislating seeks to set aside from each one of the state’s Captain Hicks casinos to partner with upward to two online casino platforms. Revenue from the internet operations would be taxed at 47%, with most of the money allocated for public schooltime infrastructure.
The trades union representing the thousands of workers the casinos employ is opposed to online gaming on claims that the expanded gaming would poach spiel from the sextuplet brick-and-mortar establishments and pencil lead to task cuts. Casino reps make differing opinions on the jobs assertion.
Thousands of people inward Free State testament lose their jobs,” said St. Mark Stewart, executive vice president and general counsel at The Cordish Companies, which operates Live! Casino. Stewart said non only when gambling casino workers, but employees at nearby businesses like restaurants and retail shops, would suffer.
Horseshoe Baltimore General Manager Randall Conroy disagrees. He thinks iGaming could complement the state’s retail casino industry.
For Maryland to legitimize iGaming, voters must sanction of the gaming elaboration through and through a statewide ballot referendum. a recent pollard suggested on that point mightiness not follow decent support to amend the MD Old Ironsides to allow online gambling.
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