Maryland’s six casinos produced $151,535,608 from slot machines and table games in September 2025, down 5 percent from the same month in 2024. The decrease amounted to $7,975,301. State contributions from casino gaming reached $64,949,631 for the month, a 10.7 percent drop of $7,802,791 compared to September 2024. The Education Trust Fund received $46,806,687, reflecting a 10.7 percent reduction of $5,599,908 from the prior year. Through the first quarter of fiscal year 2026, which spans July 1 to September 30, overall gaming revenue fell 3.1 percent, while state contributions declined 2.3 percent from the corresponding period in fiscal year 2025.
Individual casino performances varied. MGM National Harbor in Prince George’s County, with 2,249 slot machines and 205 table games, reported $63,189,811, a 5.6 percent decrease of $3,763,048 from September 2024. Live! Casino & Hotel in Anne Arundel County, operating 3,849 slots and 179 tables, generated $54,919,583, down 7.8 percent or $4,676,007. Horseshoe Casino in Baltimore City, featuring 1,365 slots and 115 tables, saw $14,004,989, up 6.7 percent by $885,421. Ocean Downs Casino in Worcester County, with 900 slots and 18 tables, posted $8,421,318, a 3.8 percent drop of $336,787. Hollywood Casino in Cecil County, equipped with 654 slots and 15 tables, earned $6,351,137, down 4.6 percent or $308,913. Rocky Gap Casino Resort in Allegany County, holding 630 slots and 12 tables, recorded $4,648,771, a 5.1 percent increase of $224,032.
The statewide figures mark the fourth straight month of revenue declines in 2025, influenced by factors such as reduced video lottery terminal play and broader economic pressures. Fiscal year 2026 trends show total casino revenue at $335,932,564 through September, compared to $343,745,826 in the prior year’s first quarter.
Casino revenues fund multiple state priorities beyond operations. The Education Trust Fund, which supports public schools, early childhood programs, and construction, receives the largest share. In fiscal year 2025, casinos contributed $606.2 million to this fund, aiding K-12 education statewide. Allocations flow to local school systems based on enrollment and needs, with state aid per pupil varying by county. In Southern Maryland, Calvert County Public Schools received about $17,400 per student in recent funding distributions, while Charles and St. Mary’s counties saw similar per-pupil support adjusted for local factors. The Blueprint for Maryland’s Future, a comprehensive education reform, channels these funds to enhance equity, including increased aid for districts with higher needs. For instance, inflation-adjusted state funding per pupil rose in 22 of Maryland’s 24 school systems in fiscal year 2026, with increments ranging from 0.2 percent in Garrett County to higher percentages in others. Southern Maryland benefits through investments in classroom resources, teacher salaries, and infrastructure, such as expansions at the College of Southern Maryland, which received allocations under the Community College Construction Grant Program.
Additional revenues bolster local governments where casinos operate, providing direct aid to Prince George’s, Anne Arundel, Baltimore City, Worcester, Cecil, and Allegany counties. These funds support public services, infrastructure, and economic development in host jurisdictions. Statewide, casino proceeds also sustain the horse racing industry, which received $95.2 million in fiscal year 2025. This allocation divides between racetrack renewals and purse enhancements, supporting operations at venues like Pimlico and Laurel Park, and contributing to breeding programs that maintain Maryland’s thoroughbred heritage. Historical subsidies from casinos have exceeded $450 million since 2011, stabilizing an industry that employs thousands and generates tourism.
A portion aids small, minority-owned, and women-owned businesses through the Small, Minority, and Women-Owned Businesses Investment Account. Established under state law, this fund offers loans and grants to eligible enterprises, fostering economic inclusion. In fiscal year 2024, it supported ventures across sectors, with eligibility extended to counties like Montgomery for low-interest financing derived from casino taxes. Statewide, these initiatives aim to distribute opportunities, though specific disbursements vary annually based on revenue.
Maryland’s casino framework dates to 2008 voter approval of video lottery terminals, with the first facility opening in 2010. Expansion to table games followed in 2012, leading to the current six privately owned operations regulated by the Maryland Lottery and Gaming Control Agency. Cumulative revenues since inception have topped billions, with fiscal year 2025 totaling over $2 billion in gaming income before the recent downturn. Agency operating costs stay low, at 1.2 percent of casino revenues, ensuring maximum fund transfers. While September’s decline continues a pattern seen in June (1.4 percent drop to $160.7 million) and August (slight downturn to $170.3 million), analysts attribute it to seasonal factors and competition from neighboring states. The industry remains a key economic driver, employing over 10,000 and attracting visitors.
For Southern Maryland residents, the Education Trust Fund’s role in school funding underscores the indirect benefits, as state aid supports local districts without direct casino presence. Calvert, Charles, and St. Mary’s counties receive allocations for programs like pre-K expansion and career readiness under the Blueprint plan, which projects $3.2 billion in enhanced funding over a decade. Recent challenges, including a $418 million shortfall from federal relief reversals, highlight the fund’s importance in maintaining stability.
