Maryland’s casino landscape continued to show resilience as its six gaming establishments collectively generated $155 million in gaming revenue for the month of September. While this figure represents a 2.6% decrease compared to the same period in the previous year, the casinos remain a significant contributor to the state’s revenue.
Key Casino Performance:
MGM National Harbor Leads: MGM National Harbor emerged as the frontrunner, reporting $61.7 million in gaming revenue for the month.
Strong Runner-Up: Live! Casino & Hotel secured the second position with $58.4 million in gaming revenue.
Other Casino Contributions: Additional casinos included Horseshoe Casino with $14.4 million, Ocean Downs Casino with $8.7 million, Hollywood Casino with $6.7 million, and Rocky Gap Casino with $4.8 million in revenue.
Contributions to the State:
The revenue generated by Maryland’s casinos is not only a testament to their economic impact but also a significant source of funding for various state initiatives. Contributions to the state coffers reached $66.4 million, with a slight 2.2% decrease compared to the same period last year. Specifically, the Education Trust Fund received $47.8 million, accounting for a 3% reduction in contributions.
Local Impact:
It’s important to note that casino gaming revenues extend beyond state finances. These revenues support the communities and jurisdictions where the casinos are located, contributing to their economic development and growth. Additionally, Maryland’s horse racing industry sector benefits from the proceeds, highlighting the broader positive impact of the state’s gaming industry.
Maryland’s casinos demonstrated their continued ability to generate substantial revenue despite a slight year-on-year decrease in September. While the sector faces periodic fluctuations, it remains a vital contributor to the state’s finances, with a focus on supporting education and local communities. The success of MGM National Harbor and Live! Casino & Hotel underlines the ongoing appeal of Maryland’s gaming destinations.