Maryland’s casino industry in March recorded the state’s single highest revenue month – $169.2 million – as capacity restrictions put in place in response to COVID-19 were lifted.
The state’s Lottery and Gaming Commission said Monday the revenue figure from the state’s six casinos was 146.4% higher than the $68.7 million from last March, a period in which the gaming industry closed on March 16 due to the spreading coronavirus pandemic.
The new monthly record eclipsed the $163.3 million Maryland’s casinos produced in March 2019.
March 2021 was helped by the lifting of a 50% capacity restriction across four casinos on March 12. Despite no limits on capacity, not all slot machine and table game seats can be occupied because all casinos must continue to comply with social-distancing guidelines.
Capacity limits at MGM National Harbor and Horseshoe Baltimore were allowed to increase to 50% from 25%.
For the month, MGM National Harbor generated $66.5 million of gaming revenue, 6% above March 2019. National Harbor held the top spot with 39.3% of Maryland’s total gaming for the month. Maryland Live! had 36.1% of the state’s gaming revenues.
“On a sequential basis, the results represent a 34% improvement, relative to February, and a 21.1% sequential improvement in gaming revenue per day, relative to February,” said Deutsche Bank gaming analyst Carlo Santarelli.
For the first three months of 2021, Maryland gaming revenues are up 16.1% over 2020.
The boost in capacity during March helped all of Maryland’s casinos move ahead of 2020’s initial three-month gaming revenue totals. MGM National Harbor is up 15.3% and Maryland Live! is 17.1% ahead of its 2020 comparison. Hollywood Casino Perryville has the highest percentage increase at 38.2% over its 2020 numbers.
Casino revenue to the state totaled $71 million in March, an increase of $3.6 million, compared to how much the state raised from casino revenue in March 2019.
Maryland lawmakers are in the process of negotiating sports wagering legislation that could allow the state’s casinos and sports stadiums to operate legal sportsbooks.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
