Maryland's casino industry maintained its upward trajectory in November. But some of the numbers from the individual casinos may be a little concerning.
The state's six casinos combined to generate a little over $158 million in revenue from slot machines and table games. This marks a slight increase of 0.3% compared to the same month in 2023, but a slightly lower number compared to last month.
Slot machine revenue topped out at almost $113 million.
Table games generated nearly $42 million.
But a closer look at the numbers reveals a bit of a mixed bag.
MGM Casino Tops Maryland Revenue Leaders
While some places have improved on last year's revenue, others have seen small drops in revenue. Here's a detailed look at how each casino performed in November 2024:
- MGM National Harbor (Prince George’s County): Despite a slight decrease in revenue, MGM National Harbor remains at the forefront with $65.5 million. The bad news is that this figure is down almost 2% year-over-year.
- Live! Casino & Hotel (Anne Arundel County): Registering an increase of nearly 4%, Live! Casino & Hotel brought in a little more than $60 million.
- Horseshoe Casino Baltimore (Baltimore City): The casino experienced a modest decrease in revenue, generating over $14 million, down 1.7% from last year.
- Hollywood Casino Perryville (Cecil County): Reporting $7.2 million in revenue, Hollywood Casino's 5.4% improvement highlights its growing popularity.
- Ocean Downs Casino (Worcester County): This venue saw a notable decline of nearly 7%, bringing in $6.6 million in November 2024 compared to the previous year.
- Rocky Gap Casino Resort (Allegany County): Another facing a decline, Rocky Gap's revenue fell by 8.8%, totaling $4.2 million this November.
State Benefiting From Tax Revenue
Maryland's casinos' financial success resulted in increased funds for the state and local communities. They contributed nearly $69 million to the state last month, about a 4% increase from November 2023.
Almost $50 million went to the Education Trust Fund, funding various educational projects throughout the state.
The money from casinos also benefits the communities around them. It supports Maryland's horse racing industry and creates opportunities for small businesses, particularly those owned by minorities and women.
Despite all the benefits, not everyone is on board with the idea of having a casino in their town. Voters near Chesapeake Beach recently voted against gambling expansion.
Maryland Casinos Generating Strong Numbers Overall
The November 2024 data shows that Maryland's casino industry is growing and shrinking at the same time. However, the casinos are bringing in more money overall and providing more support to the state, which is a positive sign for the industry.
As Maryland's casinos keep finding new ways to attract players and innovate, they continue to play a crucial role in supporting local communities and state programs financially. We'll be paying close attention in the coming months to see how these trends unfold and how the casinos will impact Maryland's economy.
