Maryland’s Gross Casino Revenue
Casinos are known to hold live entertainment events such as standup comedy and sporting events. There have been debates about whether gambling has negative or positive consequences to the economy and social lives of those involved.
The casino industry generated a gross win of around 450 billion dollars from gamblers in the year 2016 alone. Social casino games are also on the rise and are predicted to grow with 1.4 billion dollars per year. Gambling has significantly contributed to the economic growth of some countries such as USA and China. The leading companies in the casino industry are those that supply the full leisure package which includes resorts, casinos, entertainment complexes shopping malls and other tourist attractions.
The four brick-and-motor poker places in Maryland generated revenues amounting to 3.5 million dollars in October 2017 alone. This amount was an increment of 29 percent in comparison to the same month in the year 2016 which saw 2.7 million dollars. The average increment is at 24.7 percent over the years. Maryland had only three poker tables until 2016 December when MGM National Harbor Casino opened up a 39 table room growing the state poker market.
And over the years, Maryland has established itself as one of the top poker markers in the US. Maryland allowed live poker to be played from 2013 and later in the year the poker casinos were allowed to stay open 24 hours a day, therefore, improving the revenues collected through poker and other gambling games.
MGM National Harbor ranked over 42 million dollars in gross revenue during its first three weeks of operation; the figure has attracted both local and international tourist gamblers as well as visitors from the east coast and the continental United States. Maryland reported the biggest revenue in gambling in the region with 48 million dollars at the end of the year.
Experts predict that resort casinos have a potential to become the most successful casinos in the region as they not only host locally but also tourists visiting The US capital Washington DC. This is expected to fuel the growth of revenue in the state as MGM National Harbor was seen to capture local gambling community making it convenient for those who previously would fly out to Las Vegas and Atlantic City for gambling. About half of the revenue generated in the MGM National Harbor come from gambling activities, with the rest coming from hotels, properties, food, and concert tickets. The Harbor is predicted to bring over 700 million dollars annually in pretax gambling revenues.