July is a historically record-setting month for Maryland casinos … but not this year.
Casinos in Maryland reported $169.8 million in July revenue, bouncing back for a 4.2% improvement from June’s $162.9 million.
However, revenue dropped 2.6% this July from $174.3 million in July 2023.
New month, same order
Maryland has six retail casinos. These venues are the only places to play casino games, as lawmakers won’t pass Maryland online casino legislation until at least 2026. For those who can’t wait, there are sweepstakes and social online casinos that offer online play using virtual dollars.
Not all six retail casinos are created equally.
MGM National Harbor routinely leads the state in overall revenue and did once more in July. It reported just under $72 million in monthly winnings, a 0.2% decline from $72.2 million a year ago.
MGM finished on top because of the $28 million it collected in table games revenue. Its primary competitor, Live! Casino & Hotel, had $214,000 more in slot revenue ($44.2 million) than MGM but roughly $10 million less in table games winnings. Live! had $62.6 million in monthly revenue, a 0.3% year-over-year drop from $62.7 million.
Maryland Casino Revenue in July
| Casino | Slot Revenue | Table Game Revenue | Total |
|---|---|---|---|
| MGM National Harbor | $43,937,331 | $28,046,392 | $71,983,723 |
| Live! Casino & Hotel | $44,151,619 | $18,411,276 | $62,562,895 |
| Horseshoe Baltimore | $8,839,532 | $4,477,702 | $13,317,234 |
| Hollywood Perryville | $8,853,570 | $1,208,050 | $10,061,620 |
| Ocean Downs Casino | $6,089,220 | $767,513 | $6,856,733 |
| Rocky Gap Resort Casino | $4,590,115 | $448,991 | $5,039,106 |
| Statewide Totals | $116,461,387 | $53,359,924 | $169,821,310 |
Only one casino shows yearly growth
The four remaining casinos combined for less than half of MGM’s revenue. All four had double-digit annual changes, but three were in the red.
Horseshoe Casino Baltimore retained its spot as the third-largest revenue producer. However, its $13.3 million ($8.8 million slots; $4.5 million table games) represented a 16.9% drop from $16 million in July 2023.
Hollywood Casino was the only casino in the black. Its $10.1 million in revenue ($8.9 million slots; $1.2 million table games) was up an incredible 34.1% from $7.5 million a year ago.
Hollywood finished ahead of Ocean Downs Casino for the first time in three months. Ocean Downs went in the opposite direction of Hollywood, reporting $6.9 million in revenue ($6.1 million slots; $768,000 table games). Its monthly total was a 32% year-over-year decline, the worst in the state and an unwelcome result for the Old Line State’s most seasonal casino.
Maryland’s smallest casino, Rocky Gap Casino, generated just over $5 million in July revenue ($4.6 million slots; $449K table games), 13.4% lower than the previous year’s $5.8 million.
July revenue is a far cry from previous years
Maryland casinos celebrated wins in July 2020 since they got the green light to reopen at 50% capacity during COVID-19. Even with restrictions, casinos posted an impressive $149.3 million in revenue for the month.
A year later, they set a record by reporting $180.1 million in revenue. In state history, they have only broken $180 million three times, two of which were in July.
July revenue by year:
- 2019: $149.3 million
- 2020: $139.9 million (at 50% capacity)
- 2021: $180.1 million (state record at the time, third all-time)
- 2022: $181.5 million (state record at the time, second all-time)
- 2023: $174.3 million (eighth all-time)
- 2024: $169.8 million
After setting a new record in 2022, last July’s revenue declined by 4% annually to $174.3 million. July 2024’s revenue decline marks two years in a row with yearly drops.
Casino revenue down through seven months in 2024
July marks the fourth month in 2024 with year-over-year revenue declines. January, April and June also experienced drops, and those drops have outweighed the gains from February, March, and May.
As a result, Maryland casino revenue is down 2% for the year. Casinos have reported $1.16 billion through the first seven months of 2024 compared to $1.18 billion in 2023.
Maryland Casino Revenue in First 7 Months of 2023 and 2024
| Month | 2023 | 2024 | % Change YoY |
|---|---|---|---|
| January | $167,270,398 | $153,243,316 | -8.4% |
| February | $157,055,925 | $159,226,677 | 1.4% |
| March | $176,524,584 | $178,137,823 | 0.9% |
| April | $174,742,218 | $163,150,675 | -6.6% |
| May | $169,401,366 | $173,152,961 | 2.2% |
| June | $163,717,230 | $162,914,432 | -0.5% |
| July | $174,323,087 | $169,821,301 | -2.6% |
| Total | $1,183,034,808 | $1,159,647,185 | -2% Average |
The final five months of last year each produced between $155 million and $165 million in revenue.
Maryland casinos would need to collect $170 million in multiple months to make up the $23.4 million difference and show yearly gains in 2024.
