Maryland casinos had a historic month in May as gaming operators set records for gross gaming revenue.
According to figures released by the state lottery, which oversees the land-based industry in Maryland, six commercial casinos reported revenues of $4 million. It set a new record for the largest monthly revenue report, surpassing the previous record set just a few months ago in March when casinos won 73 $. 2 million from players.
The year-over-year comparison is not applicable as casinos in Maryland were closed in May 2020 in response to COVID-19 pandemic. Governor Larry Hogan shut down the gaming industry from mid-March last year to June 000.
Since the pandemic began, few gambling markets have been as successful as Maryland. A recent report by the American Gaming Association revealed that casinos in Maryland generated some of the highest gambling revenues in the country in 2020.
Last fall, while nearly every regional casino market begged players to come back, Maryland was one of only a handful of areas that actually saw year-over-year revenue growth. Proximity to Atlantic City, which was an area with some of the strictest restrictions, probably had something to do with it, but it can't be proven.
These numbers have all come before Ocean State launched its sports betting market, which was legalized in a ballot initiative last November. The initiative only asked voters if sports betting should be legal and did not create a regulatory framework for the industry. Hogan signed legislation a few weeks ago that helped introduce rules for both online and retail sports betting.
The market is expected to be launched this fall, which should help to even increase revenues more.
In May, casinos paid $73.4 million in taxes, most of which went to the state education trust fund.