Maryland Casinos Surpass $2 Billion in FY2022 Revenue; Generate $162.7M in June

Written By Hill Kerby on July 6, 2022 - Last Updated on September 12, 2022

After three consecutive months of generating more than $170 million in revenue, Maryland casinos dipped below that number in June after reporting $162.7 million. That number is up 0.8% from June 2021, bringing the Fiscal Year 2022 total revenue to over $2 billion.

June’s total marks the 15th time in history in which the state’s six casinos combined to eclipse $160 million in single-month revenue. They missed that same mark just twice since March 2021 as casinos began to get back into full swing after the COVID-19 pandemic shut down business in 2020.

Looking at the numbers

MGM National Harbor and Live! Casino & Hotel retained their positions well ahead of the other four Maryland casinos with $68.4 million and $56 million in total revenue, respectively. Combined, the two accounted for 76% of the state’s revenue.

Compared to June 2021, MGM National Harbor saw an increase of $4.7 million (7.4%), increasing its market share over Live! Casino & Hotel. Revenue at Live! decreased by $2.5 million (-4.2%) YoY.

Horseshoe Baltimore retained its position in third, reporting $17.1 million in revenue for the month. That number was up $36,927 (0.2%) from the previous year’s $17 million.

Ocean Downs Casino ($8.6 million) outperformed Hollywood Casino Perryville ($7.4 million) for the second straight month, more than tripling the roughly $300K by which it bested Hollywood in May. However, neither casino did better than June 2021. Ocean Downs’s revenue decreased by $291K (-3.3%) and Hollywood’s decreased by $323K (-4.2%).

Rocky Gap Casino, the smallest in the state, was also hit the hardest in June, with its $5.3 million total revenue representing a $414K decrease (-7.2%) YoY.

CasinoSlot WinTable Games WinTotal
MGM National Harbor$38 million$30.4 million$68.4 million
Live! Casino & Hotel Maryland$40.8 million$15.2 million$56 million
Horseshoe Casino Baltimore$11 million$6.1 million$17.1 million
Ocean Downs Casino$7.8 million$733,000$8.6 million
Hollywood Casino Perryville$6.4 million$1 million$7.4 million
Rocky Gap Casino Resort$4.8 million$570,000$5.3 million
Total$108.7 million$54 million$162.7 million

Casinos close out FY 2022 with a bang

June marked the end of the Fiscal Year 2022, with the $162.7 million in total revenue bringing the end-of-year total to $2,002,780,233. This was the first time in state history casinos hit such a milestone.

MonthTotal Revenue
July 2021$180.1 million
May 2022$178.8 million
December 2021$172.9 million
April 2022$170.7 million
March 2022$170.6 million
August 2021$168.5 million
September 2021$165.4 million
February 2022$163 million
June 2022$162.7 million
November 2021$160.4 million
October 2021$154.9 million
January 2022$153.8 million
Total$2 billion

The FY 2022 revenue was up $257 million (14.7%) from FY 2021’s $1.75 billion and brings Maryland’s lifetime cumulative gaming program revenue to $13.8 billion. That money supports the state’s education trust fund, local support and small-, minority- and women-owned businesses, as well as contributing to the general fund, horse racing and casino operators.

Will July 2022 break July 2021’s record?

Maryland’s single-month casino revenue record of $180.1 million took place a year ago in July 2021. Heading into last month, casinos were on a three-month streak of generating more than $170 million, with March, April and May accounting for three of the five best months in history.

Revenue increased across those three months, too, with March’s $170.6 million and April’s $170.7 million paving the way to May, where casino revenue hit an all-time second-best $178.8 million.

While June’s revenue did drop, recent history dictates that its numbers should not affect the momentum gained from the months before. If that momentum builds again, July will be a favorable month to break the record once more.

Photo by Shutterstock
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Hill Kerby

Hill Kerby is a proponent of legal, safe, and responsible gambling. He feels fortunate to be able to contribute to the growing betting industry through his writing, primarily using his background in poker, sports, and psychology to do so.

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