Summary
- April 2023 was over $3.9 million higher than 2022.
- The month was the sixth-highest grossing for the industry ever.
- The Education Trust Fund Received $52.6 million.
The gaming industry of Maryland has seen a great month in April by way of revenues, generating over $174 million from slots and table games.
The amount was 2.3% more than April 2022, with over $3.9 million more earned. The month was the sixth highest grossing for the industry in the history of operations.
Individual Operator Revenue Breakdown
For the month, each of the six casinos in Maryland was able to generate a solid return from gaming according to the latest Revenue report from MLGCA. However, only two operators saw an increase in year-over-year totals. MGM National Harbor was the big earner, bringing in over $75.5 million. This was a 7% increase from the previous year.
Live! Casino & Hotel came in next with $62 million in earnings. This was a 5.5% increase. Horseshoe Casino brought in over $16 million and took the third spot on the list. However, the casino did experience a loss from last year that was quite significant at 13.2%.
Ocean Downs Casino brought in $7.9 million, a decrease of almost 4%. Hollywood Casino was down just under $1 million from last year with $7.5 million in earnings. Rocky Gap Casino was low as well with a 6.8% drop with only $5.4 million in earnings.
The month of April 2022 was a high point for many of the six casinos in the state, when higher than average revenues were seen by venues.
Contributions from the Casino Gaming Industry
The casinos that offer services in Maryland contribute tax payments to help with various needs. In April, the contributions from the gaming industry reached over $72 million. This was an increase of less than 1% compared to 2022.
The Education Trust Fund receives the most from the tax payments, with April providing just over $52 million. This was an increase of around $396,000. The money supports education but also local jurisdictions, local communities, horse racing, and businesses owned by minorities.
The casinos in the state provide both table games such as Blackjack and Roulette as well as slot services to patrons. It’s interesting to note that despite the losses from the majority of the casinos in Maryland, the state was still able to reach a record monthly high.
The past few years have seen an upswing in earnings thanks to the diminishing of the COVID-19 virus and its restrictions. It will be interesting to see how the next few months play out and if the state is able to continue with high monthly totals. Hopefully, the casinos with decreased numbers will be able to see an upswing.
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