In November, Maryland’s six casinos collectively generated $157.7 million in gaming revenue, marking a 3.5% decrease compared to the same month in 2022 and a 1.3% decline from October 2023. The Maryland Lottery and Gaming Commission released these figures, providing insights into the performance of individual casinos and the overall contribution to the state.
Individual Casino Performance:
MGM National Harbor: Reported $66.6 million in revenue, reflecting a 6.9% decrease from November 2022.
Live! Casino & Hotel: Generated $58 million, representing a modest increase of 1.6%.
Horseshoe Casino: Posted $14.6 million, experiencing a 10.6% decline.
Ocean Downs Casino: Registered $7 million, indicating a notable 7% increase in revenue.
Hollywood Casino: Contributed $6.8 million, marking a marginal 0.1% uptick.
Rocky Gap Casino: Generated $4.5 million in revenue, reflecting a 6.5% decrease.
Contribution to the State:
The total contribution by Maryland casinos to the state reached $66.2 million, with a significant portion of $47.7 million directed to the Education Trust Fund. Despite the overall decline in gaming revenue, individual casinos demonstrated varied performances, with some experiencing growth while others faced challenges in comparison to the previous year.
Analysis and Insights:
The 3.5% year-on-year decline in gaming revenue for November highlights the dynamic nature of the casino industry in Maryland. Factors such as market competition, economic conditions, and consumer preferences play crucial roles in shaping the performance of individual casinos. While MGM National Harbor faced a notable decline, Live! Casino & Hotel showcased resilience with a modest increase.
Maryland’s casino landscape experienced a mixed performance in November, with total gaming revenue at $157.7 million, reflecting a 3.5% decline compared to the previous year. The individual casino breakdown provides valuable insights into the diverse challenges and opportunities faced by each establishment. As the industry navigates through fluctuating market dynamics, the contribution to the state’s Education Trust Fund remains a key aspect of the casinos’ overall impact on Maryland’s economy.