Contributions from Maryland casinos plummeted after the protracted closure of the covid-19 coronavirus pandemic. The state stopped collecting nearly $ 200 million.
According to numbers from the Maryland Lottery and Gaming regulatory agency, the state’s six casino operators generated total revenue of $ 34.9 million in June, well below $ 142.9 million in 2019.
Like all casinos in the United States, Maryland operators had to shut down their devices in March to prevent the virus from spreading.
In June, the smallest state casinos Rocky Gap, Hollywood Perryville, and Ocean Downs reopened. But bigger casino operators like MGM’s National Harbor, Horseshoe Baltimore and Live! Casino & Hotel did it in the last week.
The first to open was Live! Which did so with selected guests from June 19, then left the ticket free on June 29. Live! obtained the highest income during the month with $ 15.85 million. Followed by National Harbor with $ 8 million, which started operations since June 26. In third place was Hollywood Perryville with $ 3.45 million, which opened to the public on June 19.
Likewise, Rocky Gap and Ocean Downs of Churchill Downs Inc reopened on June 19 and obtained net income of $ 2.15 million and $ 2.86 million, respectively. Caesars’ opened June 26 for a select group, raised revenue of $ 2.6 million.
State gaming revenue last month was just $ 14.6 million. That represents less than a quarter of what was obtained in June last year. Although casinos will increase their income by staying open throughout the month, there is a limitation. Owners are limited to accepting only 50% of players of their capacity.
As of June 30 when the state’s fiscal year 2020 ended, the casino’s total revenue was just $ 1.28 billion. This is about $ 480.4 million less compared to fiscal year 2019 results. The state’s revenue decline went from $ 723.4 million in 2019 to just $ 529.1 million now.
Since reopening, casinos in total contributed $ 76.6 million, compared to $ 161.4 million in June last year.
Although not everything is bad, because the performance despite having only half the available capacity, has been acceptable. In fact, the average daily income for June this year ($ 6.97 million) was higher than the average for the same month in 2019 ($ 5.38 million).