Maryland Casino Gambling Revenue Up By Modest Amounts In March

Maryland’s gambling landscape has presented an intriguing pattern of revenue generation across its six major casinos. March 2024’s figures were particularly noteworthy, and signaled there’s still more room for growth.

March 2024 revenue breakdown by operator

In March, Maryland’s six casinos combined to generate $178.1 million in revenue from slot machines and table games. The breakdown of the revenue by operator, with a year-on-year comparison, is as follows:

• MGM National Harbor led the pack with $75.1 million, marking a 3.4% increase
• Live! Casino & Hotel followed with $64.8 million, a modest 0.5% increase
• Horseshoe Casino Baltimore saw a revenue of $17.3 million, a decrease of 4.3%
• Hollywood Casino Perryville generated $8.5 million, up by 6%
• Ocean Downs Casino reported $7.5 million, a decrease of 6.5%
• Rocky Gap Casino Resort rounded out the list with $5 million, a decrease of 6.7%

Looking back at March 2023, the total revenue was slightly lower at $176.5 million, which was the fifth-best single-month total at that time. Overall, there’s steady growth in the gambling sector in Maryland, with a 0.9% increase in revenue in March 2024 compared to March 2023.

Comparison to February

When compared to February’s $159.2 million, there was a noticeable increase of approximately 11.9%. This increase is consistent across most operators, with MGM National Harbor and Live! Casino & Hotel showing significant growth, while others like Horseshoe Casino Baltimore and Rocky Gap Casino Resort reported declines.

The overall uptick in March’s revenue compared to February can be attributed to several factors, including seasonal variations, marketing strategies, and the introduction of new gaming options.

Before and after COVID-19

Before the pandemic struck, Maryland’s casinos were a significant contributor to the state’s economy. However, the onset of the pandemic led to a significant temporary drop in casino revenue.

The impact of COVID-19 on the gambling industry was profound. With casinos shuttered from mid-March to mid- or late-June of 2020, revenues plummeted. Ordinarily, casinos would generate about $60 million a month for the state, but this figure dropped below $30 million for March 2020, hit zero for April and May, and only reached about $13 million for June.

However, Maryland’s casinos were among the fastest to begin to recover as COVID-19 measures were lifted and entertainment venues were allowed to reopen. The past couple of years have continued to bring steady increases to Maryland’s gambling revenue, allowing the state to speed up its recovery process.