Maryland Casino Revenue Rebounds Slightly from Last Month

Maryland casino revenue in October increased from the previous month, but had a substantial drop compared to the same month in 2022. Maryland’s six casinos reported more than $159.8 million in revenue in October 2023, an increase of about 3% over September (almost $155.1 million).

However, compared to October 2022, the most recent October had a 24.9% drop in revenue, or about $53.1 million. It’s noteworthy that the October 2022 figure set a single-month revenue record in Maryland ($212.9 million), which was driven by unusually high volume, according to the state.

Casino gaming contributions to the state in October were almost $67.26 million, a decrease of $12.71 million, or about 15.9%, compared to October 2022. Maryland online casinos are not yet legal.

Of the casino tax contribution, almost $48.5 million went to education with the rest going to the communities and jurisdictions where the casinos are located, the state’s horse racing industry, and toward small, minority- and women-owned businesses.

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How Each Maryland Casino Fared

Among the state’s individual casinos, MGM National Harbor enjoyed the most revenue in October but also accounted for a substantial proportion of the overall same-month, year-over-year drop in revenue. MGM National Harbor’s October 2023 revenues were $67.3 million, a decrease of more than $47.72 million, or 41.5%, from October 2022.

As usual, Live! Casino & Hotel was No. 2 in total revenue but with a more modest decline in a same-month, year-over-year comparison. The October 2022 revenue at Live! was almost $57.79 million, a decrease of about $1.88 million, or 3.1%, from October 2022.

Here’s how the other casinos fared for revenue in October 2023:

• Horseshoe Casino, more than $14.87 million, a decrease of about $2.56 million, or 14.7%, from October 2022.
• Ocean Downs Casino, about $8.23 million, an increase of $207,344 (2.6%) from October 2022.
• Hollywood Casino Perryville, about $6,71 million, a decrease of $830,890, or 11.0%, from October 2022.
• Rocky Gap Casino, about $4.92 million, a decrease of $323,466, or 6.2%, from October 2022.

The revenue report on Maryland sports betting is expected Friday or early next week.