Maryland's Casino Industry Sees Growth in May
Maryland's six retail casinos posted a combined revenue of $173.2 million in May, up 6.1% year-on-year from the $169.4 million generated in the same month in 2023. The figure was also increased by 6.1% from April's $163.2 million.
Maryland recorded its ninth-largest casino monthly revenue in May 2024.
LISTEN TO THIS ARTICLE:Of the total, $121.2 million came from slot games, while $52 million was generated from table games.
May's revenue ranks ninth on the state's all-time list, with October 2022 remaining the highest-grossing month on record at $212.9 million.
In the month, operators remitted $74.4 million to the state as tax contributions, an increase of 5.1% year over year. Of the total, $53.7 million was allocated to the Education Trust Fund, up by 4.2% compared to May 2023.
MGM National Harbor Dominates Market
MGM National Harbor, featuring 2,285 slot machines and 207 table games, led the market in May with a revenue of $72.3 million. It was followed by Live! Casino & Hotel with a revenue of $65 million. The venue hosts 3,839 slots and 179 table games.
Horseshoe Casino claimed the third spot with $14.8 million in revenue from its 1,373 slot machines and 115 table games. Oceans Down Casino was next, with $8.4 million in revenue from a portfolio of 871 slots and 19 tables.
Hollywood Casino Perryville, with 721 slot machines and 23 table games, posted revenues of $7.7 million in the month. Lastly, Rocky Gap Casino, featuring 641 slot machines and 16 table games, earned $5 million.
More Finance News
Maryland Online Casino Bill Hits Roadblock
Currently, Maryland does not legalize online gambling. The state's ban on online casinos will likely continue as attempts to legalize online casinos in the state lose momentum in the 2024 legislative session.
In March, Bill 1319, sponsored by Venessa Atterbeary, which seeks the legalization of online gambling in Maryland, was passed in the House. However, it was only given a cursory review in the Senate, where it has ultimately stalled.
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