Mixed Revenue Results for Maryland Casinos in August
The state of Maryland has reported a 7.8% year-over-year increase in casino gaming revenue for August.
August's gaming revenue marks the ninth-highest monthly total in Maryland.
LISTEN TO THIS ARTICLE:The casinos in the state generated a combined gaming revenue of $173.9 million in the month, roughly $13.5 million higher than the $160.4 million recorded in the same month last year.
August's revenue also marks the ninth-highest monthly total since Maryland launched its legal casino market in 2010.
Maryland is home to six privately owned casinos, including MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Hollywood Casino Perryville, and Rocky Gap Casino Resort.
Of the six, only three Maryland casinos – MGM National Harbor, Live! Casino & Hotel and Hollywood Casino – saw revenue increase in August compared to the prior year. MGM National Harbor's revenue jumped 9.7% to $75 million.
Live! Casino & Hotel saw a $6.8 million YoY increase to $61.9 million, while Hollywood Casino reported an 8.7% rise in revenue to $7.7 million.
Rocky Gap Casino experienced the highest year-over-year decline in the month, dropping by 6.9% to $5 million. Horseshoe Casino's revenue also fell by 6.4% in August to $14.4 million.
Ocean Downs Casino Resort saw a slight 1.8% decrease in revenue during the month but still achieved $9.9 million in revenue.
More Finance News
MD Casinos Boost Trust Fund and Charitable Efforts
Maryland received almost $73.7 million in casino gaming contributions in August, an 8.1% increase from the previous year. Education Trust Fund contributions also rose by 8.1% to $53.1 million.
Revenues from casino gaming also benefit the local communities and areas where the casinos are located, the state's horse racing industry, and small businesses owned by minorities and women.
Last month, the Maryland Lottery announced that contributions from the state's casino, DFS, and sportsbook operators towards charitable courses had reached $1.58 billion. According to the state, the total represents the second-largest all-time contribution in Maryland, behind last year's record $1.6 billion.
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