Casino News

Maryland casino revenue jumps 6% in May, gains 2.2% year-over-year

In May, the Maryland Lottery and Gaming (MLG) announced a major achievement: all six casinos in the state earned a total of $173.15 million in revenues from slot and table games. This ranks as the ninth-highest monthly total since the inception of casinos in Maryland, thus showing the region’s high growth and acceptance of gambling.

It also highlights consistent progress within the field, as May’s result is 2.2% higher than the previous year’s data and 6.13% higher than April’s. However, May’s profits are the second highest this year, only surpassed by March, which was $178.13 million. The monthly data for the current year also look promising, with January making $153.24 million, February $159.23 million, April $163.15 million, and moving up to the profitable May.

As can be seen, the recent increase in casino revenue has benefited the gambling business and has had a significant and positive effect on state revenue. The casinos in Maryland paid $74.4 million in taxes for May, which is 6.6% more than what they paid in April. Out of this amount, $53.66 million was spent on the Education Trust Fund, which increased monthly by 6.57% and overall by 4.2% compared to last year. For more casino news, stakeholders closely watch these trends as they indicate broader shifts in consumer behavior and regulatory landscapes.

MGM National Harbor remained the most lucrative privately held casino in Maryland, with the monthly revenue rate reaching over $72 million. This has shown a growth of 0.8 % compared to that observed in May of the preceding year. The fate of the remaining casinos was diverse, with Live! This is fueled by increases in annual revenues at 10.3% for Casino & Hotel and 2.7% for Hollywood Casino. While that success was happening, other casinos, such as Horseshoe Casino, Ocean Downs Casino, and the Rocky Gap Casino, experienced contractions in their profits as the state and regional market for casinos remained volatile and competitive.

Despite this year’s advancements, the outcome of online gambling legalization in Maryland is not yet inevitable. Earlier this year, some attempts to legalize online casinos stalled because of failure to secure voters’ approval through a referendum. Senator Ron Watson, a key proponent of the legislation, noted disappointment at this development but vowed that the fight to include online gaming is not over yet. He suggested that they could vote on it in 2026.

Despite the legislative challenge, there is a vibrant and active sentiment among the stakeholders in the industry due to the continued growth of land-based casinos in Maryland. 

Currently, the market is gradually growing, and there is a possibility of its future development associated with online gambling, which could indicate that, at the moment, the gambling market of the state is in a very important period of development. At the same time, Maryland benefits from the successful work of its physical casinos and, while introducing online gambling, tries not to go too far and acts as a responsible jurisdiction. As this ever-evolving industry continues, all eyes are on Maryland to determine how it will adapt and find its place in America’s rapidly growing gambling world.

Michael Grant

Michael writes news articles covering covering whole casino industry. He is passionate about online poker games. He regularly contributes in-depth news stories regarding casino industry and legislations.

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