BALTIMORE — Maryland’s casino sector marked a modest growth in February 2024, with the six privately owned casinos generating a combined revenue of $159.2 million from slot machines and table games, evidencing a 1.4% increase over the same period last year.
The collective contributions from casino gaming to the state for February amounted to nearly $67.8 million, showcasing a 1.3% rise compared to February 2023. Specifically, the Education Trust Fund was the beneficiary of $48.9 million of this revenue, representing a 0.5% increase from the previous year. Beyond education, the generated revenue aids local communities, the Maryland horse racing industry, and several small, minority, and women-owned businesses.
Among the establishments, MGM National Harbor in Prince George’s County led the way, posting revenues of over $66.8 million in February 2024, up 1.9% from the previous year. This was followed by Live! Casino & Hotel in Anne Arundel County, which saw a significant 6.5% increase in revenue, amounting to more than $59.3 million.
However, not all casinos experienced growth. Horseshoe Casino in Baltimore City saw a notable decrease of 8.2%, generating around $15 million. Similarly, Ocean Downs Casino in Worcester County and Rocky Gap Casino Resort in Allegany County reported declines of 7.0% and 18.6%, respectively.
The detailed revenue breakdown for each casino underscores the diverse performance across the state. For instance, MGM National Harbor continues to hold the top spot with its significant slot machine and table game offerings, totaling 2,276 and 207 respectively. Live! Casino & Hotel follows closely with an impressive array of 3,860 slot machines and 179 table games.
These financial metrics not only highlight the fluctuating fortunes of Maryland’s gaming establishments but also illustrate the vital role they play in supporting state-funded initiatives and local economies.
The state of Maryland’s reliance on casino gaming revenues is evident in the allocation of these funds to various sectors, with the Education Trust Fund being a primary recipient. This underscores the casinos’ contribution beyond mere entertainment, serving as a crucial financial pillar for educational and community development.
As the gaming industry continues to evolve, the performance of Maryland’s casinos will remain a key factor in the economic landscape, particularly in how these establishments adapt to market challenges and opportunities. The attached charts and online resources provide a comprehensive overview of each casino’s revenue contributions, offering insights into the broader implications for the state’s financial health and developmental priorities.
