Summary:
- Casinos were down over $5.6 million compared to 2022.
- Game contributions came in at $66,150,282.
- The top earner was MGM National Harbor, with $66,641,884.
The six commercial casinos in Maryland had a disappointing November, as the venues generated only $157,718,494 in revenues. This was a 3.5% decrease from last November, down just over $5.6 million similar to July figures.
Slots and table games did not fare as well, with 50% of the casinos seeing a drop in earnings.
Casino Gaming Contributions
In November, the state’s casinos contributed $66,150,282 to the coffers. This was a decrease of 2.3% from last year, with a dip of over $1.5 million. Contributions from gaming go towards the Education Trust Fund, with November 2023 providing $47,727,562. This was short, around 3.1% from 2022.
Gaming revenues from casino games help to support education as well as communities and jurisdictions where the casinos are located. Additional funds are set aside for women-owned, minority, and small businesses, along with the horse racing industry.
The privately owned casinos in Maryland offer players slot gaming and table options. Three of the six casinos saw a decrease in earnings, leading to a revenue shortage.
Individual Casino Earnings
The top earner for the month was MGM National Harbor, with the casino generating $66,641,884 in earnings. This was a huge drop of over $4.9 million from November 2022. The decrease was around 6.9%.
Live! Casino & Hotel came in second, seeing an increase of 1.6% with $58,030,400 in revenues. Coming in far behind in third was Horseshoe Casino. The venue saw a large decrease in earnings at over 10%, with only $14,600,437. The casino was down over $1.7 million.
Fourth place went to Ocean Downs, with $7 million in revenues. The casino was up 7% and saw an increase of over $460,000 for the year. Hollywood Casino also saw a slight increase, with $6,818,038 in earnings. Rounding out the list is Rocky Gap Casino. The venue decreased by 6.5% and brought in only $4.5 million.
Each casino offers a nice collection of slots and table games. MGM, Live!, and Horseshoe offer the largest number of games, with each casino having over 1,000 slot machines and more than 100 table games. Ocean Downs, Hollywood, and Rocky Gap are much smaller, with fewer than 1,000 slots and less than 25 table games each.
The casino industry is overseen by Maryland Lottery and Gaming, which provides operator licensing and regulations. The group issues monthly financial reports to give the public insight into how the venues are performing.
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