Maryland casinos reported their highest revenue in May for any month in 2022. It was also good for the second-best month in state history with $178.8 million in gaming revenue.
These numbers are a 3.7% increase from May 2021, when casino revenue totaled $172.4 million, and a 7% bump from April’s $170.7 million. Both of those months are also top five in recorded revenue for state history.
After adding May to the tally, Fiscal Year 2022 now totals $1.84 billion, up 16.1% from FY 2021 year-to-date of $1.584 billion.
Maryland casinos picking up momentum
May marks the third consecutive month in which Maryland’s casinos topped $170 million in revenue, bringing in $170.6 million in March and another $170.7 million in April. Those numbers were the fourth- and fifth-best months in state history until May’s figures were released.
Now, Maryland has seen its casinos top that mark six times.
|July 2021||$180.1 million|
|May 2022||$178.8 million|
|December 2021||$172.9 million|
|May 2021||$172.4 million|
|April 2022||$170.7 million|
|March 2022||$170.6 million|
MGM National Harbor and Live! on top again; Ocean Downs bests Hollywood
Unsurprisingly, MGM National Harbor retained its position at the top of the state with $76 million in total revenue. That’s up 11.1% from the $68.4 million in May 2021 and 7.7% from the $70.5 million in April 2022.
Live! Casino & Hotel was again second with $62.7 million in total revenue, up $1.3 million (2.2%) from May 2021 and $3.9 million (6.6%) from last month.
Despite being third, Horseshoe Casino Baltimore’s $17.7 million revenue was down $1.84 million (-9.4%) YoY. Revenue also fell $1.3 million (7%) from April, marking the third consecutive month in which the casino’s numbers headed in the wrong direction.
Ocean Downs Casino ($8.5 million) surpassed Hollywood Casino Perryville ($8.2 million) in revenue after falling less than $250K short of that mark in the previous month. However, neither experienced an up month compared to last year, with Ocean Downs’ revenue $90K (-1.1%) less than May 2021 and Hollywood’s down $275K (-3.2%) YoY.
The state’s smallest casino, Rocky Gap, also took in less than the previous year. Its $5.7 million total revenue was down $331K (-5.5%) from May 2021.
|Casino||Slot Win||Table Games Win||Total|
|MGM National Harbor||$40.2 million||$35.7 million||$76 million|
|Live! Casino & Hotel Maryland||$42.7 million||$20 million||$62.7 million|
|Horseshoe Casino Baltimore||$11.7 million||$6 million||$17.7 million|
|Ocean Downs Casino||$7.6 million||$906,000||$8.5 million|
|Hollywood Casino Perryville||$7.1 million||$1.2 million||$8.2 million|
|Rocky Gap Casino Resort||$5 million||$671,000||$5.7 million|
|Total||$114.2 million||$64.5 million||$178.8 million|
A new record is likely coming soon
May’s $178.8 million revenue topped two of the three months that March and April were unable to, despite also topping $170 million in each of those timeframes. Those two months were December 2021 ($172.9 million) and May 2021 ($172.4 million).
But July 2021’s record of $180.1 million has yet to be broken.
That should change soon, though, as the state’s casinos have now had three of its six largest months in history since March.
If 2021 is an indicator of the next few months, June could bring a slight dip from the recent uptrend. However, current momentum could also trump last year’s numbers and challenge the record straight away.
Should June fall short of the record, July will undoubtedly be waiting in the wings.