Maryland casino revenue drops 25%, but there’s an explanation

Maryland’s six casinos generated $159.8 million in revenue from slot machines and table games in October, down 24.9% from October 2022.

The year-over-year comparison seems like a significant decline, but it is also compared to last October, when casinos set a single-month revenue record on what was unusually high volume last fall.

Maryland casinos’ second-best month for gaming revenue was $181.5 million in July of 2022.

Compared to September, October’s gaming revenue was little changed.

The sharpest difference was at MGM National Harbor, where last month’s $67.3 million in gaming revenue was down 41.5% from last October. Gaming revenue at Live! Casino & Hotel, the state’s second-largest casino, was $57.8 million, down 3.1% from a year earlier. Baltimore’s Horseshoe Casino had $14.9 million in gaming revenue, down 14.7%.

Gaming revenue at the state’s three smaller casinos, Ocean Downs, Hollywood Casino and Rocky Gap, all had year-over-year declines in October between about 3% and 11%.

Of October’s $159.8 million in total gaming revenue, $67.3 million was collected by the state, the majority of which went to Maryland’s Education Trust Fund.

Maryland Lottery and Gaming posts monthly and year-to-date casino gaming revenue, as well as contributions to state programs, online.