Maryland’s sports betting industry enjoyed a double-digit increase in April with revenues of more than $480.4m (EUR445.3m/PS383.4m).
Maryland’s sports betting revenues increased by 48.1% on an annual basis to $486.3m in the last month. Handle from retail accounted for 11.3m, and around 98% came from mobile.
In April 2023, the US State recorded a hold of 10.9% on $435.9m in prize money. The state had a hold of 10.9% on $292.8m in April 2023. The Maryland promo play increased from $9.0m up to $11.1m.
In April, the taxable gain was $38.0m. This was an increase from $25.8m during the previous period. The state contribution of $5.7m increased by 47.1%. It was also the highest monthly total since Maryland launched its online sports betting in November 2022.
Maryland sportsbooks collected nearly twice as many handles as they did at the same time last year. Sports wagering increased by 96.7% from July 2023 to April 2024. By April 2023, the prizes paid were $4.1m as opposed to $2.0bn. Handle this year has been 10.5%, compared with 13.6% in 2013.
The contribution to the state has increased by 167.8%, to $46,6bn in this year.
MGM National Harbor’s fall has an impact on overall casino performance
In April 2024, the six Maryland casinos generated a combined revenue of $163.2m from table and slot games. It was 6.6% less than April 2023.
The state received $69.8 million in casino gaming revenue during the month of April 2024, which is a decrease of 3.6% compared with the previous period.
MGM National Harbor saw its gaming revenues drop by 9.8%, to $68.1m. Live! The second-largest property in the country, Casino & hotel, has seen gaming revenues fall by 1.9%, to $60.9m.
