Maryland Casino Sector Records Slowdown as July Revenue Declines

Maryland’s six casinos have generated almost $170 million in revenue in July 2024, marking a slight year-on-year decline. By extension, this led to a slight decline in the industry’s contributions to the state.

Maryland’s Six Casinos Recorded Slightly Lower Revenue

Maryland has six legal commercial casinos that offer both table games and video lottery terminals (VLTs). The properties include MGM National Harbor, Live! Casino Hotel, Horseshoe Casino Baltimore, Ocean Downs Casino, Hollywood Casino Perryville, and Rocky Gap Casino Resort.

In July, the six casinos generated $169,821,301 in revenue from slots and table games.  This marks a slight 2.6% decline from July 2023 and represents $116,461,385 in VLT revenue and $53,359,924 in table game revenue.

The commercial casino industry’s contributions to the state also experienced a slight decline to $72,163,554. This figure marks a decrease of 1.4% from July 2023. Likewise, the industry’s contributions to the Education Trust Fund were down 1.4% year-on-year. The fund, for reference, provides support to the casinos’ local communities, the racing industry and smaller businesses.

How the Six Casinos Performed

MGM National Harbor, a property boasting some 2,300 slot machines and 212 table games, recorded $71,983,723 in revenue in July. This result was more or less in line with the July 2023 figure, representing only a slight decrease of 0.2%. The property recorded $43,937,330 in VLT revenue and $28,046,382 in table gaming revenue.

Live! Casino & Hotel, meanwhile, posted a total revenue of $62,562,895, which encompasses $18,411,276 in table gaming revenue and 44,151,618 in VLT revenue. The total figure marked a YOY decrease of 0.3%. For context, the casino has 3,861 slots and 179 gaming tables.

Horseshoe Casino, which fields some 1,347 slot machines and 115 table games, on the other hand, reported revenue of $13,317,234 in July 2024. The property struggled a bit as its revenue declined by 16.9% year-on-year. The total revenue consisted of $8,839,531 in VLT revenue and $4,477,702 in table game revenue.

Ocean Downs Casino, a casino sporting 876 VLTs and 19 table games, saw its total revenue decrease by 4.6% YOY to $9,621,082. This figure included $8,853,569 in VLT revenue and $767,512 in table game revenue.

In addition, Hollywood Casino, which has 735 VLTs and 23 table games, posted revenue of $7,297,270, down 2.8% from July 2023. The property reported $6,089,220 in VLT revenue and $1,208,049 in table game revenue.

Finally, Rocky Gap Casino, which has 636 VLTs and 16 table games, reported $5,039,106 in revenue for July, down 13.4% YOY.  VLT revenue stood at $4,590,114, while table game revenue reached $448,991.