Maryland Casinos Collect Robust $178.1M in March Revenue

Maryland’s gaming industry had another big month in March, as the state’s six casinos combined to generate over $178.1 million in revenues.

The March 2024 total represents a slight 0.9 percent increase when compared to March 2023.

That total amounts to the fifth-highest monthly revenue figure in Maryland since casinos first opened in 2010. There have been six active Maryland casinos since December 2016, when the MGM National Harbor opened for business. The record high for the state remains $212.9 million in monthly casino revenue, which was achieved in October 2022.

Horseshoe Casino Continues to Struggle

With numbers that ran close to last year’s totals, it’s not surprising that some casinos did better than others. Of the three largest casinos in the state, MGM National Harbor say revenues increase by 3.4 percent compared to last year, with the Live! Casino & Hotel in Arundel Mills was up 0.5 percent year-over-year.

But the Horseshoe Casino in Baltimore continued to see revenues decline. The facility brought in just $17.3 million for the month, down 4.3 percent from March 2023 and continuing a noticeable decline in revenues that has now lasted over two years. 

Smaller casinos in the state include the Hollywood Casino (up 6.0 percent), Ocean Downs Casino (down 6.5 percent), and the Rocky Gap Casino (down 6.7 percent). 

Overall, the casinos contributed more than $76.4 million to Maryland’s state coffers, up 2.6 percent from last March. 

Maryland enjoys a relatively large casino market relative to most states. The American Gaming Association ranked Maryland eighth in the nation in casino revenue for January 2024, just behind Illinois and ahead of Indiana. Nevada remains the biggest casino market in the country, bringing in $1.34 billion from the gaming industry in February 2024.

Maryland Online Gambling Bill Won’t Pass This Session

While Maryland has seen success with brick-and-mortar casinos, it appears unlikely that the state will add online gambling to the mix this year.

In February, the Maryland House of Delegates passed a bill that would have allowed for online slot machines and table games by a 92-43 vote. However, the state Senate hasn’t taken up the measure, and with the General Assembly’s legislative session ending on Monday, April 8, there’s no indication that the Senate will take up the bill at this time.

Supporters of the legislation have said that online gambling could help fund the Blueprint for Maryland’s Future, a plan for the state’s public schools being enacted by the Maryland State Department of Education. However, online gambling has been opposed by both casino workers and at least some of the current casino operators, who fear cannibalization of their current revenues. 

Maryland’s casinos already support education in the state. In March, $55.2 million of the gaming contributions to the state went to the Education Trust Fund, which supports public education from preschool through community colleges.