Casinos in Maryland saw a slight revenue uptick in November.
According to numbers released by the Maryland Lottery & Gaming Control Agency, six Maryland casinos won $163.4 million from gamblers. Those figures represent a 1.9% increase from November 2021.
However, the 2023 fiscal year, which began July 2022, is up 6.9% compared to the first four months of the 2022 fiscal year.
Additionally, November brought the year-to-date casino revenue total to $1.2 billion.
November 2022 Maryland casino revenue breakdown
According to November figures, most of the state’s casino revenue came from the two top earners. MGM National Harbor was the state’s highest-grossing casino with $71.6 million in November revenue. That’s a 5.5% jump from November 2021 for the D.C. area casino.
Live! Casino & Hotel in Hanover was the second-highest-grossing casino in the Old Line State with $57.1 million. The two top properties were nearly identical in slot revenue. But MGM’s table game revenue was what separated the two.
| Casino | Slot Win | Table Games Win | Total |
|---|---|---|---|
| MGM National Harbor | $39.8 Million | $31.8 Million | $71.6 Million |
| Live! Casino | $39.4 Million | $17.7 Million | $57.1 Million |
| Horseshoe Casino Baltimore | $10.5 Million | $5.8 Million | $16.3 Million |
| Hollywood Casino | $5.8 Million | $1 Million | $6.8 Million |
| Ocean Downs Casino | $5.9 Million | $692,682 | $6.6 Million |
| Rocky Gap Casino | $4.4 Million | $497,241 | $4.9 Million |
Despite the success, Live! Casino experienced a 1.8% decrease from November 2021. Three other casinos witnessed year-over-year declines as well.
Ocean Downs Casino dropped 0.6%, Hollywood Casino dipped 3.4% and Rocky Gap Casino saw a downturn of 1.3%.
On the other hand, Horseshoe Casino Baltimore was up 4.2% year-over-year. The increases from Horseshoe and MGM were enough to keep the overall revenue uptrend in tack.
November numbers represent one of the worst months of 2022
Despite a small increase year-over-year, November’s numbers were disappointing compared to the rest of this year. January, February, June and September were the only months of 2022 with lower revenue totals.
Maryland casinos are coming off a record-setting October where the six properties reported a whopping $212.9 million in gross gaming revenue. It’s the only time in state history that casino revenue topped $200 million.
Furthermore, it was the second time this year, Maryland set a single-month record. July’s $181.5 million was the previous record.
Maryland coffers receive eight figures
From the gross gaming revenue, the state received $67.7 million in tax revenue from those six casinos. The Education Trust Fund received most of those payments, getting $49.25 million.
Local governments received a combined $2.9 million in tax payments from casinos in their area. The state taxes table game and slot machine revenue differently. As a result, local governments only receive 5% of table game revenue.
By comparison, casinos keep anywhere from 39% – 60% of slot machine earnings. The remaining amount is divided between these initiatives:
- Education Trust Fund
- Local impact grants
- A minority business fund
- The Maryland Lottery
- State racetracks
Maryland casinos keep 80% of table game revenue, and the other 20% is paid to the government. The ETF receives 15% of table game tax payments, and local jurisdictions receive the other 5%.
The Maryland Lottery and Gaming Control Agency will release its sports betting revenue numbers this Monday.
