Revenue at Maryland’s six casinos dropped by a little more than 5% in May compared to the previous year, according to figures released by the Maryland State Lottery & Gaming Control Agency. Slot machines and table games produced $169.4 million last month.
The state received $70.8 million from gaming activity at its casinos in May, with $51.4 million of that going to the Maryland Education Trust Fund (ETF).
The total revenue decrease year-over-year compared to May 2022 was $9,366,462, a 5.2% drop.
MGM National Harbor leads Maryland casinos with $71 million in revenue
The six Maryland casinos have a combined 9,000+ slot machines and 500+ table games. Once again, MGM National Harbor ranked No. 1 in revenue in May 2023:
- MGM National Harbor in Prince George’s County: $71,716,915 (-5.6% from May 2022)
- Live! Casino & Hotel in Anne Arundel County: $58,934,594 (-6.0%)
- Horseshoe Casino Baltimore in Baltimore City: $17,516,043 (-0.9%)
- Ocean Downs Casino in Worcester County: $8,402,111 (-1.2%)
- Hollywood Casino Perryville in Cecil County: $7,602,531 (-7.4%)
- Rocky Gap Casino Resort in Allegany County: $5,229,172 (-7.8%)
Thus far in 2023, through four months, the six MD casinos have taken in more than half a billion in gross terminal revenue ($564 million), or revenue from slots. As a result, the ETF has received $216.1 million for its budget needs. That money helps fund public education in Maryland. In addition, $30.6 million has been collected by the state for Local Impact Grants, which pay for special projects approved by the MSLGCA.
Table games have raked in $280.9 million in 2023, which has sent $42 million to the ETF. Local jurisdictions, those that host the casinos, receive 5% of the total revenue from table games.
Live! Casino edged MGM National Harbor in slot revenue in May slightly, according to data from the state. But National Harbor holds a large edge in table game revenue, thanks to its superiority in table games on site. Live! has more than 1,500 more slot machines than its rival casino.
The slowing of casino gaming in Maryland is in contrast with the increasing popularity of sports betting in the state. According to a recent survey, nearly one-quarter of citizens in the state said they planned to bet with a sportsbook. Reticence in traveling with uncertainty about the economy may be a reason casino gaming has dipped compared to the same month in 2022. Neighboring states such as Virginia are also seeing a drop in gaming revenue at casinos in 2023, as well.