The fall in Maryland casino revenue remained below 1% in october due to pandemic closures, while the Ohio casino gaming market hit a new revenue record for the month.

Maryland’s six casino operators produced combined revenues of nearly $ 142.7 million in october, according to figures released by the state’s Lottery and Gaming regulator. This represents a 0.9% decrease compared to the same month’s revenue in 2019 and $ 1 million less than the september total of this year.

The steep declines in income are largely due to restrictions imposed by the pandemic. The casinos are working at 50% of their full capacity. Although four casinos had positive year-on-year growth, MGM National Harbor, the market leader, saw a 5.5% drop year-on-year to $ 56.5 million.

Despite covid-19 restrictions, casino operators in the United States have reported considerable increases in their profits. Even if it is minimal and even negative income growth. These gains are attributed in part to the decrease in costs of the casinos by keeping certain services that generated losses closed.

Another factor that has contributed to maximizing profits is the incorporation of sports betting in combination with other products. Maryland voters approved the legalization of sports betting in the elections.

The creation of the necessary legal framework for sports betting in the legislature will probably take a while. But for Maryland casinos it is very good news that their customers will soon be able to place bets within the state.

Ohio is something else

The surprise came from Ohio with earnings reports in october. The Casino Control Commission in charge of overseeing the state’s four land-based casinos and the Lottery Commission in charge of overseeing slot games at seven racetracks ‘racinos’, reported that gambling revenues reached $ 169.1 million.

This figure represents 6.7% more compared to the same month in 2019 and $ 4.6 million more than september earnings.

The combined revenue of the four Ohio casinos rose to $ 74.8 million, a year-over-year increase of about 10% and close to $ 3 million compared to september. In the racinos the combined revenues were $ 94.3 million, that is, 4.4% more year-on-year and $ 1.5 million more than the previous month.

The Ohio racino JACK Thistledown is already poised for a longer shutdown as animal rights group People for the Ethical Treatment of Animals (PETA) bought shares in parent company Penn National Gaming, as well as in the real estate investment trust that owns the land where the track is located.

Reports indicate PETA is planning to give the Thistledown track a further boost. This is one of six racetracks in which the group acquired an ownership stake. The group plans to introduce “simple changes that will make a big difference for vulnerable horses.”

The changes include not giving more whipping to animals during the race and prohibiting trainers sanctioned for doping. As well as incorporating synthetic tracks because they help reduce animal deaths.

Source: https://calvinayre.com/2020/11/09/business/maryland-ohio-casinos-overcome-pandemic-restrictions-october/

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