Maryland’s casino industry in December 2023 showcased a marginal yet steady increase in revenue compared to the same period in 2022. The state’s six casinos collectively generated $165.6 million in gaming revenue, reflecting a modest 0.3 per cent year-on-year growth.
Revenue Breakdown by Casinos
The leading contributor to December’s gaming revenue was MGM National Harbor, securing $70.8 million. Following closely was Live! Casino & Hotel, reporting $60.6 million in revenue. Horseshoe Casino held its position with $15.2 million, while Ocean Downs Casino and Hollywood Casino each accumulated $7 million and $7.6 million, respectively. Rocky Gap Casino contributed $4.4 million to the total revenue. Notably, each of Maryland’s six privately owned casinos offers a combination of slot machines and table games, contributing to the overall revenue stream.
Comparative Analysis
The year-on-year comparison showcased a slight but notable increase in revenue. December 2023’s total gaming contributions to the state amounted to $70.2 million, representing a 0.7 per cent increase compared to the same period in 2022. Although seemingly modest, this upward trend emphasizes the continued growth and stability of Maryland’s casino industry.
Contributions to State and Education Trust Fund
The report highlighted the positive impact of casino gaming on the state’s finances. In December 2023, gaming contributions totaled $70.2 million, showcasing an incremental increase of $508,501 compared to December 2022. This revenue infusion plays a crucial role in bolstering various sectors within the state.
Of this revenue, $50.6 million was channeled into the Education Trust Fund in December 2023, indicating a year-on-year increase of $2,141. These contributions play a pivotal role in supporting educational initiatives, underscoring the vital role of the casino industry in fostering educational development in Maryland.
Maryland’s casino industry exhibited a consistent and incremental growth trend in December 2023, contributing significantly to the state’s financial landscape. Despite marginal year-on-year increases, the collective revenue generated by the six casinos underlines their substantial impact on Maryland’s economy. The consistent contributions to both the state and the Education Trust Fund signify the crucial role of the gaming industry in supporting various sectors, particularly education. The stability and growth demonstrated by these figures bode well for the continued prosperity of Maryland’s casino landscape in the coming years.