Data shows February 2023 was, by some standards, an off-month for Maryland casinos. The six brick-and-mortar properties in the Old Line State combined to generate just over $157 million in revenue.
That number is down nearly $6 million, or about 3.6%, from February 2022. Additionally, it’s down $10 million from the $167 million generated in January of this year.
Maryland casino gambling, by the numbers
Five of the six Maryland casinos were down from their February 2022 totals. The lone property to improve year-over-year was Ocean Downs, which increased its revenue to just over $6.8 million (up $244,000 from 2022).
That total puts Ocean Downs fifth in Maryland’s revenue rankings. MGM National Harbor maintained the top spot with nearly $65.6 million in handle, down $240,000 from the same month last year.
Live! Casino and Hotel was second with $55.7 million, more than $3.7 million behind its February 2022 total. The top two were followed by Horseshoe Casino ($16.3 million), Hollywood Casino ($7.3 million), Ocean Downs and Rocky Gap ($5.3 million).
In total, casinos contributed $66.9 million in tax dollars to Maryland’s coffers. Much of that went to the state’s Education Trust Fund, which received over $48.6 million.
Reason for optimism in March
With March comes March Madness, one of the premier events on the Maryland sports betting calendar. Five of the six Maryland casinos boast on-site sportsbooks, with Rocky Gap the lone exception.
Selection Sunday is set for March 12, with the Big Dance tipping off a few days later and lasting through early-April. It’s entirely possible casinos with sportsbooks will be able to capitalize on the situation and increase handle and revenue.
