Maryland casinos’ January 2024 gaming revenue falls

Maryland Casinos experienced an 8.4% decline in gaming income in January 2024 when compared to January 2022 and 2023. This includes all six casinos, which collectively generated $153.2 million in gaming revenue from slot machines and table games.

In January 2024, the state received $63.2 million from gambling. From January 2023, this represented a decrease of 10.6%. Programs such as the Education Trust Fund, community development, the Maryland horse racing business, and small, minority, and women-owned enterprises get state funding. 

The January 2024 results are comparable to the same month in 2022. Gaming revenues totaled $153.8 million, with the states receiving $62.5 million, plus an additional $45.5 million for the Education Trust fund. 

Maryland’s privately managed casinos provide slot machines and table games, including MGM National Harbor, Livel Casino and Hotel, Horseshoe Casino, Ocean Downs Casino, Hollywood Casino Perryville, and Rocky Gap Casino Resort.

Using the breakdown of casino gambling revenue in January 2024, MGM National Harbor recorded $66 million in revenue, representing an 8.7% decrease compared to January 2023. The revenue of Live! Casino and Hotel decreased by 2.5% from January 2023 to $56.8 million. The Horseshoe Casino reported a loss of $14.6 million, or 17.1%, compared to January 2023. The Hollywood Casino recorded a revenue of $6.6 million, reflecting a 7.5% decline in comparison to January 2023. In addition, Ocean Downs Casino generated $6.1 million in revenue, a decrease of 12.9% compared to January 2023. Rocky Gap Casino recorded a revenue of $3.2 million, reflecting a 36.6 percent decrease in comparison to January 2023. 

Despite experiencing a decline in gaming revenue in January 2024, the gaming industry in Maryland managed to weather the tempest. Comparing December 2023 to December 2022, the combined gaming revenue of the state’s casinos amounted to $165.6 million, representing a 0.3% increase. 

With regard to the month of November 2023, a decline of 3.5% was observed in gaming revenue, totaling $157.7 million, in comparison to November 2022. 

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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