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.
|Casino||Slot Win||Table Games Win||Total|
|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.
|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|
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.