Maryland Casino Revenues Down $4.5 Million Year-Over-Year in July

The Horseshoe Casino in Baltimore proved to be the biggest loser for gaming revenues in July. (Image: Patrick Semansky / Associated Press)

Maryland’s six casinos combined to bring in $169,821,301 during July, a number that failed to live up to the total haul from July 2023.

The casino revenue from slot machines and table games was down 2.6 percent from the $174.3 million the six venues collected a year earlier.

Smaller Casinos Suffer Major Revenue Declines in July

July was a month without bright spots for the Maryland gaming industry, as all six casinos suffered declines compared to a year earlier.

MGM National Harbor did best, dropping just 0.2 percent to $72 million in revenue for the month. The other major resort in the state, Live! Casino & Hotel in Hanover, was also largely flat, down 0.3 percent to $62.6 million in revenue for July.

As those two venues bring in most of the revenue for the state, their steady performances helped to mask more severe drops at the four smaller casinos. Horseshoe Casino saw a precipitous 16.9 percent dip in year-over-year revenue to $13.3 million, while Rocky Gap Casino fared only slightly better, with revenues declining 13.4 percent to $5 million. 

Maryland Casinos Coming Up Short Compared to Last Summer

In total, the casinos contributed $72,163,554 to Maryland’s coffers during July, with just over $52 million of that total going to the Education Trust Fund. Both of those figures were down 1.4 percent compared to the prior year.

While the numbers are disappointing year-over-year, they did represent a bit of a bump from June, when Maryland’s casinos collected a total of $162.9 million in revenue. Even when accounting for the extra day in July, that represents a daily increase of about 0.8 percent month-over-month. 

Still, it marks a second straight month in which Maryland’s casinos have failed to live up to their 2023 revenues. Whether this is a long-term trend is yet to be clear, as the state enjoyed one of its best ever months in terms of gaming revenue in March. 

Maryland currently lacks an online gambling industry. The Maryland House of Delegates passed legislation authorizing online casino games in February, but the bill was never voted on by the state Senate, and many casino workers and operators have opposed such a measure.