Maryland’s Casinos Suffer Revenue Slowdown in August

Article by : Erik Gibbs Sep 14, 2023

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Maryland’s half-a-dozen casinos raked in $161,398,690 in earnings from slot machines and table games during August 2023. While this is a substantial sum, it reflects a decrease of nearly $8 million or 4.7% compared to the same month in the previous year.

August also witnessed a 7.3% decline in revenue compared to July’s $174.3 million. In the current year’s months, August ranked as the second-weakest in terms of casino earnings, following February.

The year kicked off with $167.27 million reported for January, followed by February with $157.06 million, March with $176.52 million, and April with $174.74 million. May was consistent with $169.40 million, and June raked in a total of $163.72 million.

It’s important to note that Maryland Lottery and Gaming will release a separate report covering the state’s retail and online sports betting activities.

Maryland collected $68.1 million in casino gaming taxes during August, representing a 3.9% decrease compared to the same month in 2022. Additionally, this figure marked a nearly 7% drop from the $73.2 million collected in July.

MGM National Harbor continues to lead the pack among Maryland’s casinos, boasting over $68 million in revenue. Live! Casino & Hotel secured the second spot in the state’s ranks. According to the Maryland Lottery and Gaming August 2023 report, four other casinos followed MGM and Live! as the ones with the most generated revenue.

Horseshoe Casino, with 1,410 slot machines and 122 table games, reported $15.4 million, reflecting a 10.6% decrease from August of the previous year. With 866 slot machines and 19 table games, Ocean Downs Casino saw a 4.5% annual decrease at $10 million.

Hollywood Casino, which now holds 671 slot machines and 19 table games, reported $7.1 million, a 1.2% decrease compared to August 2022. Lastly, Rocky Gap Casino, currently offering 621 slot machines and 16 table games, generated $5.4 million.

All gaming establishments in the state experienced declines compared to the same month in 2022. Still, just during August, over $49 million was allocated to Maryland’s Education Trust Fund thanks to all the revenue generated by casino operations.

Although this figure indicates a 4.6% reduction from August 2022, it continues to support various communities, the local horse racing industry and small, minority-owned and women-owned businesses throughout the state.