Maryland Casinos Experience Slight Dip in June Revenues
Despite a strong first half of the year, Maryland casinos experienced a slight dip in revenues for the month of June. According to the Maryland Lottery and Gaming Control Agency, the state’s six casinos brought in a total of $152.3 million in revenue last month, which is a decrease of 1.1% compared to June 2020.
The slight dip in revenues can be attributed to a variety of factors, including the ongoing COVID-19 pandemic and increased competition from neighboring states. With more casinos reopening and expanding their operations, Maryland casinos are facing stiff competition for customers.
Horseshoe Casino Baltimore saw the biggest decrease in revenue, with a 3.8% drop compared to June 2020. The casino has been struggling to attract customers since reopening at limited capacity earlier this year. However, MGM National Harbor, the state’s largest casino, saw a slight increase in revenue, up 1.5% from last year.
Despite the dip in revenues, Maryland casinos are still performing well overall. The state has generated over $1 billion in total gaming revenue so far this year, a 20% increase compared to the same period last year. This growth can be attributed to the easing of COVID-19 restrictions and pent-up demand from customers eager to return to the casinos.
Moving forward, Maryland casinos are optimistic about their future prospects. With sports betting set to launch later this year and the continued rollout of vaccinations, casinos are hopeful that they will be able to attract more customers and drive up revenues in the coming months.
Overall, while the slight dip in June revenues may be cause for concern, Maryland casinos remain a vital part of the state’s economy and are poised for continued growth in the months ahead.
