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Maryland’s six casinos generated a total of $169.8m in revenue from slot machines and table games in July 2024, representing a 2.6% decrease year-on-year. This decline highlights a challenging period for the state’s casino industry.
In July 2024, casino gaming contributions to the state totalled $72.2m, a decrease of 1.4%. These contributions are reportedly vital for several state programs, including the Education Trust Fund, which received $52m in July. This amount is down by 1.4%.
Casino revenues also reportedly support local communities, Maryland’s horseracing industry and small, minority- and women-owned businesses.
The following is a breakdown of the gaming revenues for each of Maryland’s six casinos for July 2024 compared to the previous year:
– MGM National Harbor: With 2,300 slot machines and 212 table games, MGM National Harbor reported $72m in revenue, a slight decrease of 0.2%.
– Live! Casino & Hotel: Operating 3,861 slot machines and 179 table games, Live! Casino & Hotel generated $62.6m, a decrease of 0.3%.
– Horseshoe Casino Baltimore: With 1,347 slot machines and 115 table games, the casino saw a significant revenue decline, reporting $13.3m, down 16.9%.
– Ocean Downs Casino: The casino, with 876 slot machines and 19 table games, earned $9.6m, reflecting a 4.6% decrease.
– Hollywood Casino Perryville: Operating 735 slot machines and 23 table games, Hollywood Casino reported $7.3m in revenue, a 2.8% decrease.
– Rocky Gap Casino Resort: Featuring 636 slot machines and 16 table games, Rocky Gap Casino generated $5m marking a 13.4% decline.
This decline comes after the state’s casinos reported a total gaming revenue of $159.2m in February 2024, a 1.4% increase. Contributions to the state during that month amounted to $67.7m, with $48.9m directed to the Education Trust Fund, up 0.5%.
Despite positive performance in February, the gaming sector in Maryland has experienced fluctuations throughout 2024. The sports betting industry showed growth in early 2024, with a 23% increase in total handle in January.
However, the casino sector faced a slight decline in gaming revenue during the same period.
