Maryland Casinos Hit Revenue Record With $212.9 Million In October

When the Maryland betting industry is brought up, most people will point to the upcoming launch of online sports betting in the state. However, the state is also home to a thriving casino scene, with plenty of major hotspots throughout the area. And those Maryland casinos had a busy month of October, with the entire state hitting a major milestone.

Let’s look at some of the numbers behind Maryland casinos’ extremely profitable October as well as check out the current state of sports wagering in the Old Line State.

Maryland Casinos Hit Monthly Revenue Record In October

Casinos in the state of Maryland just had the most profitable month in the history of operating in the state, bringing in $212.9 million throughout October. This gross gaming revenue is well beyond the previous record, which, according to Casino.org, was $181.5 million set in July 2022. With an approximate 17% difference between the two numbers, it’s clear that the casino industry is on the rise in the state.

MGM National Harbor Fuels Big Revenue Jump

While there are plenty of different retail casinos throughout Maryland, MGM National Harbor turned out to be the biggest factor in the profitable month. The casino from the popular betting brand brought in $115 million, over half of the total monthly number. Interestingly, table games proved to be the most profitable option at the MGM Resorts International casino in October of 2022. The casino won approximately $73.2 million on blackjack, craps, baccarat, and other popular table games throughout the month.

This is a major jump from the previous year, in which table games only saw around $14.5 million in profit throughout October 2021. While not nearly as successful as MGM National Harbor, other Maryland casinos contributed to the total gross gaming revenue number such as Live! Casino & Hotel Maryland ($59.6 million), Hollywood Casino Perryville ($7.5 million), and Rockey Gap Casino ($5.2 million).

Maryland Sports Betting Coming Before 2023

Although the casino scene was massive for Maryland in October, plenty of residents are still waiting for the ability to place sports bets from their mobile devices. Retail sports betting is available in the state, with Horseshoe Casino, Bingo World, Riverboat on the Potomac, and Ocean Downs Casino all hosting in-person sportsbooks. The aforementioned MGM National Harbor also has its own retail BetMGM Sportsbook available.

While retail betting has its charm, online sports betting is popular for its convenience. Luckily for anyone of legal betting age in the state, legal mobile wagering is coming soon. There’s no current launch date planned, but it’s currently expected that online Maryland sports betting will roll out before the end of 2022, just in time for the second half of the NFL regular season.

Major sports betting operators like DraftKings Sportsbook, BetRivers Sportsbook, BetMGM Sportsbook, Caesars Sportsbook, and FanDuel Sportsbook are all expected to be available early on. It will be interesting to see if the availability of online sports betting has any effect on the retail Maryland casino gaming industry.