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.
| Month | Total 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.
