{"id":246845,"date":"2022-12-07T11:03:03","date_gmt":"2022-12-07T17:03:03","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=246845"},"modified":"2022-12-07T13:24:56","modified_gmt":"2022-12-07T19:24:56","slug":"maryland-casino-revenue-slows-november-win-163m","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/","title":{"rendered":"Maryland Casino Revenue Slows in November, Six Properties Win $163.4M"},"content":{"rendered":"

Maryland casino revenue for the six commercial properties slowed in November following a record-setting October.<\/p>\n

\"Maryland
Topgolf recently opened adjacent to the Horseshoe Casino Baltimore and likely helped the casino experience higher gaming revenue in November 2022. Total Maryland casino revenue climbed almost 2% higher from November 2021. (Image: Topgolf)<\/figcaption><\/figure>\n

Gross gaming revenue (GGR) in November totaled just shy of $163.4 million. While that was 1.9% higher — or $3 million more — than what the six Maryland casinos won in November 2021, the haul is a steep decline from October 2022. Maryland GGR in October totaled $212.9 million<\/a>, an all-time monthly high for the state gaming industry that began in 2010.<\/p>\n

\n

Month-over-month, GGR from October to November tumbled more than 23% — or $49.5 million. October has an additional day compared with November, and in 2022, October offered 10 weekend days (Saturdays and Sundays) to only eight in November.<\/p>\n<\/div>\n

When compared with November 2021, only two of the six casinos reported year-over-year GGR increases.<\/p>\n

MGM National Harbor, the richest casino in the state, experienced a 5.5% gaming revenue climb to approximately $71.6 million. Horseshoe Baltimore was the other year-over-year winner in a surprise performance that saw the city casino win about $16.3 million — a 4.2% premium on November 2021.<\/p>\n

Sports Betting Data Comes Later<\/b><\/h2>\n

Maryland voters authorized sports betting through a 2020 ballot referendum that amended the state’s constitution to allow such gambling.<\/p>\n

Retail in-person sports betting began at five of the six casinos a year ago this month. Online sportsbook operations began only late last month<\/a> following a lengthy regulatory process.<\/p>\n

\n

Maryland has opted to keep its monthly sports wagering reports separate from its casino income statistical releases. The $163.4 million in gaming revenue won last month by the casinos is independent of revenue generated by sports bets.<\/p>\n<\/div>\n

The sportsbook reports typically come three to four days after the casino data is issued.<\/p>\n

Over the past four months, Maryland retail sportsbooks accepted $105 million in total bets wagered in person. On that handle, oddsmakers won just shy of $17 million on a strong 16% hold.<\/strong><\/p>\n

Maryland’s sports betting market is expected to grow rapidly with the inclusion of mobile wagering. In other states where in-person and online wagering is allowed — New Jersey and Pennsylvania being two nearby locales with such a regulatory arrangement — the bulk of the action is facilitated over the internet.<\/p>\n

Marylanders are expected to legally bet as much as $4 billion a year through retail and online sportsbooks in the coming years. The higher handle should considerably increase monthly GGR from sports gambling.<\/p>\n

Horseshoe Ringer<\/b><\/h2>\n

Caesars Entertainment operates the Horseshoe in downtown Baltimore near the NFL Ravens’ M&T Bank Stadium. The casino company has been spending heavily in recent years to try and improve the .4-mile corridor between the stadium and the casino.<\/p>\n

One of the major components of the “Walk & Warner Street” entertainment district is a new Topgolf facility. The golf driving range mixed with booze and grub opened in late October.<\/p>\n

\n

Along with Topgolf, the Warner Street complex soon plans to open a concert venue called The Paramount, a sports bar called Yards Social Bar, and several retail shops. Caesars says it will determine whether a hotel is warranted<\/a> in the coming years.<\/p>\n<\/div>\n

With the Horseshoe growing GGR in November by more than 4% from a year ago, Caesars’ bet on new attractions surrounding its Baltimore casino is beginning to pay off.<\/p>\n","protected":false},"excerpt":{"rendered":"

Maryland casino revenue for the six commercial properties slowed in November following a record-setting October. Gross gaming revenue (GGR) in November totaled just shy of $163.4 million. While that was 1.9% higher — or $3 million more — than what the six Maryland casinos won in November 2021, the haul is a steep decline from […]<\/p>\n","protected":false},"author":25,"featured_media":246859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[82400,82124,82068,82180],"acf":[],"yoast_head":"\nMaryland Casino Revenue Slows in November, Properties Win $163.4M<\/title>\n<meta name=\"description\" content=\"Maryland casino revenue for the six commercial properties slowed in November following a record-setting October.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maryland Casino Revenue Slows in November, Properties Win $163.4M\" \/>\n<meta property=\"og:description\" content=\"Maryland casino revenue for the six commercial properties slowed in November following a record-setting October.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-07T17:03:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T19:24:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/topgolf2.jpeg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/\",\"url\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/\",\"name\":\"Maryland Casino Revenue Slows in November, Properties Win $163.4M\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/topgolf2.jpeg.jpg\",\"datePublished\":\"2022-12-07T17:03:03+00:00\",\"dateModified\":\"2022-12-07T19:24:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Maryland casino revenue for the six commercial properties slowed in November following a record-setting October.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/maryland-casino-revenue-slows-november-win-163m\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/topgolf2.jpeg.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/topgolf2.jpeg.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Topgolf recently opening adjacent to the Horseshoe Casino Baltimore likely helped the casino experience higher gaming revenue in November 2022. 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