Maryland’s six casinos recorded their worst revenue month since February, as revenue through August fell by almost five per cent in comparison to the previous year.
The Maryland Lottery and Gaming Control Agency has reported that the state’s six casinos generated $161.4m in August revenue from slot machines and table games, down 4.7 per cent year-over-year (August 2022: $169.4m).
This figure was also a 7.3 per cent decline on July’s $174.3m and was the second worst revenue month for casinos in the Old Line State since earlier this year in February when only $157.06m was reported.
Each one of Maryland’s six privately owned casinos – MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Hollywood Casino Perryville and Rocky Gap Casino Resort – saw their revenues drop in comparison to the previous year.
MGM National Harbor – 2,301 slot machines, 209 table games – generated the most revenue during the month at $68.4m, but even this was down 4.8 per cent YoY.
Live! Casino & Hotel – 3,853 slot machines, 179 table games – followed with $55m, a 3.1 per cent decrease YoY.
Meanwhile, Horseshoe Baltimore – 1,410 slot machines, 122 table games – saw the biggest revenue decline in comparison to the previous year, falling by 10.6 per cent to $15.4m.
Elsewhere, Ocean Downs Casino and Racetrack – 866 slot machines, 19 table games – fell by 4.5 per cent YoY to $10m, Hollywood Casino – Perryville – 671 slot machines, 19 table games – declined by 1.2 per cent to $7.1m, and Rocky Gap Casino Resort – 621 slot machines, 16 table games – dropped by 6.9 per cent to $5.4m.
In terms of state taxes, casino gaming contributions in August amounted to $68.1m, a 3.9 per cent drop in comparison to the previous year. Contributions to the Education Trust Fund during the month were $49.1m, down 4.6 per cent YoY.
Revenues generated from Maryland casinos also support communities and areas where the casinos are located, the state’s horse racing industry, as well as small, minority- and women-owned businesses.