Maryland Casinos Report Decrease in January 2024 Revenue
LISTEN TO THIS ARTICLE:Maryland’s six casinos experienced a decline in gaming revenue in January 2024, with earnings from slot machines and table games totaling $153.2 million, marking an 8.4% decrease from January 2023.
The revenue generated by the land-based casinos in January 2024 contributed $63.2 million to the state, a 10.6% decrease compared to the same period last year. These funds aid various sectors, including the Education Trust Fund, community development, the Maryland horse racing industry, and support for small, minority- and women-owned businesses.
This year’s figures closely mirror those of January 2022, when gaming revenues reached $153.8 million, contributing $62.5 million to the state.
Related: Maryland Sets All-Time High Sports Betting Handle in December
Performance by Individual Casinos
The gaming revenue for January 2024 varied among Maryland’s six privately owned casinos:
- MGM National Harbor brought in $66 million, an 8.7% decrease from January 2023.
- Live! Casino & Hotel generated $56.8 million, down by 2.5% from the same period last year.
- Horseshoe Casino’s revenue was $14.6 million, showing a 17.1% decline.
- Hollywood Casino earned $6.6 million, a decrease of 7.5%.
- Ocean Downs Casino’s revenue totaled $6.1 million, down by 12.9%.
- Rocky Gap Casino Resort reported $3.2 million, marking a significant 36.6% decline from January 2023.
A Mixed Bag of Results
Despite the downturn in January 2024, Maryland’s gaming industry had shown resilience in the preceding months. In December 2023, the casinos collectively generated $165.6m, a slight increase of 0.3% compared to December 2022. However, November 2023 saw a dip in gaming revenue, with a total of $157.7m, a 3.5% decrease from the previous year.
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