Maryland Records Gaming Revenue of $155 Million in November
LISTEN TO THIS ARTICLE:The six licensed land-based casinos in Maryland have reported a combined gaming revenue of $155.7m for the month of November.
The figure represented a decrease of 3.5% or $5.7m compared to the $152.1m generated in November last year. It also dropped by 1.3% from October 2023’s total.
In terms of specific operators’ revenue, MGM National Harbor remains the market leader with earnings of $66.6m. However, its revenue dropped by 6.9% year-on-year. It was followed by Live! Casino & Hotel with $58.0m in revenue, an increase of 1.6% year-on-year.
Horseshoe Casino retained the third position with $14.6m, marking a significant 10.6% decline year-on-year. Oceans Downs Casino comes next with a revenue of $7.0m. However, it experienced the most notable growth from last December at 7%. Hollywood Casino followed closely with $6.8m in revenue, increasing slightly by 0.1% year-on-year.
Rocky Gap Casino secured the last spot with $4.6m in revenue, down 6.5% compared to its earnings last November.
Related: Maryland’s Casino Industry Reports Revenue Drop in August
Alternative Gaming Income Grows
In November, the state collected $66,150,282 in casino taxes, reflecting a 2.3% decrease from November 2022 and a 1.6% decline compared to the prior month. $44.7m of the taxes received were channeled into the Education Trust Fund.
So far, in 2023, the year-to-date revenue totals $1.8 billion, while the fiscal year 2024 has accumulated a total of $808.3 million.
Although the casino sector is experiencing a decline, revenue from alternative gaming sources has surged. Maryland marked its most successful month for sports wagering in October, raking in $5.8 million.
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