Casino News 2021 – Latest revenue reports from US growth markets

Ohio, Detroit and Maryland casinos are on the rise

The gambling industry in the United States has been on a recovery mission over the past few months as it strives to bounce back from the impact of the coronavirus pandemic.

Numerous regions have reported a strong start to 2021 and experts have forecast that the second half of the year should continue in the same vein.

We take a closer look at how revenues in May across three growth markets paint a positive picture for the US gambling industry. 

Ohio sets new May record

Ohio’s 11 casinos and racinos have built on extremely strong figures in March and April by reporting revenues of $209 million for May.

The figure was the highest ever generated by the state during May and followed impressive returns during the previous two months.

The venues have now generated more than $641m in revenue from March to May, and are well positioned to build on that figure over the rest of the year.

State officials will be delighted with the performance, with legislation meaning that around one-third of the revenue will be handed over in tax.

The income is set to be used to fund various initiatives in the state, providing worthy causes with a much-needed influx of cash.

Detroit motors back

The Michigan Gaming Control Board have reported that Detroit casinos generated $109.7m revenue in May, despite operating at limited capacity.

Table games and slots accounted for the bulk of that figure, with retail sports wagering garnering around $1.75m.

While the overall figure falls short of the near $126m generated in May 2019, it is an indicator that Detroit casinos are on the way back after a difficult period.

MGM Grand Detroit brought in the most revenue with a market share of 42 percent, with MotorCity Casino Hotel and Greektown Casino making up the remainder.

The properties paid $12.8m in wagering taxes and development agreement payments to the city of Detroit and $8.7m in gaming taxes to the state of Michigan.

Maryland boom continues apace

Maryland is proving to be another success story at the moment, with the state’s six casinos recording back-to-back record months.

They reported strong revenues of $169.2m in April and topped that figure with an impressive $172.4 million last month.

MGM National Harbour remains the number one venue in Maryland, with its $68.4m revenue topping Maryland Live! Casino & Hotel by around $7m.

With sportsbooks expected to launch in the not-too-distant future, Maryland looks set to continue as a boom state for gambling.

Analysts have forecast that sports betting in the state could be worth around $217 per year, generating more than $32m in taxes.