If Maryland’s casino industry in 2023 could be summed up in one word, it would be consistency.
Revenue from slot machines last year was the same as it was in 2022: $1.33 billion.
Table game revenue, however, dropped about 10% in 2023 compared to 2022. Table games produced revenue of $723.4 million in 2022, collecting just $648 million last year.
Live! and MGM saw revenue from slots rise is 2023
A stagnant casino industry could increase interest in legalizing Maryland online casinos in 2024. With the results of a study showing that online casinos could be successful in the Old Line State, lawmakers are expected to debate the issue during this session of the Maryland General Assembly.
Of the six commercial casinos in Maryland, two saw an increase in revenue from slots machines in 2023, two saw a decline and two collected about the same as in 2022. The 2023 casino revenue report was recently released by the Maryland Lottery and Gaming Control Agency.
Live! Casino and Hotel made the most money from slot machine play in 2023, finishing at $502.4 million. It was an $8.6 million jump from 2022, the largest increase of any Maryland casino. MGM National Harbor’s revenue from slots was up $8.3 million.
Revenue from slots at Ocean Downs rose just $400,000 to $88 million.
Horseshoe Casino Baltimore suffered the biggest fall in revenue from slots. It was down $4.7 million, from $134.9 million in 2022 to $130.2 million in 2023. Hollywood Perryville collected $3.3 million less from slots in 2023 ($73.5 million), while Rocky Gap Casino fell $2.5 million to $55.1 million.
MGM enjoys highest revenue per slot machine in 2023
When comparing numbers, it’s wise to consider how many slot machine offerings are available at each casino.
Live! has the most slots and poker machines, around 4,000 machines. The casino collected roughly $125,000 in revenue per machine in 2023.
MGM National Harbor has fewer machines with 3,300, but it enjoyed a return of around $147,000 from each machine on average.
Horseshoe lists 2,200 slots, which each returning $59,100 on average. Hollywood’s 1,900 slot machines returned an average of $38,684 per machine. Ocean Downs’ 900 machines returned $97,777. Rocky Gap, with only 600 slots, returned $91.833 per machine.
MGM the only MD casino to see a gain from table games in 2023
The only Maryland casino to boast a gain in table game revenue from 2022 to 2023 was Ocean Downs. It went up from $9 million in 2022 to $10.1 million last year. All other casinos in the state saw significant declines.
MGM was still No. 1 in Maryland in table game revenue in 2023 at $348.8 million. But that amount was a drop of over $58 million from the $407.5 million collected in 2022.
Live! lost just over $4 million to $207.4 million in 2023. Horseshoe lost $13 million, reporting $62 million in 2023 from table games. Hollywood Perryville ($400,000) and Rocky Gap ($500,000) saw smaller declines.
Horseshoe collects most revenue per game
MGM and Live! each boast 200 table games for players. MGM collected $174,000 per game in 2023. Live! saw a return of $103,700 per table on average.
Horseshoe has 150 table games, with each producing an average of $413,333.
Hollywood Perryville’s 20 table games produced the highest average per game. The casino collected a whopping $660,000 per game.
Ocean Downs lists 18 table games, collecting $561,000 per machine on average. Rocky Gap’s 15 table games produced a revenue of $413,333 per table.
