The Maryland State Lottery & Gaming Control Agency has released its financial report for May 2023. As per the latest update, revenue at Maryland’s six casinos dropped a little over 5% in May compared to the previous year.
The casinos combined generated total revenue of $169.4 million last month, a figure that included both win from slot machines and table games. The year-over-year revenue decrease compared to May 2022 was by 5.2% or by $9,366,462.
As per the report, Maryland received $70.8 million from the gaming activity at the six casinos in May, wherein $51.4 million will go to the Maryland Education Trust Fund (ETF). The ETF contributions were down by $1.9 million, or 3.6%, when compared to May 2022.
The six Maryland casinos combined have over 9000 slot machines and over 500 table games. Out of the six casinos, MGM National Harbor in Prince George’s County brought in the highest revenue at $71.7 million, followed by Live! Casino & Hotel in Anne Arundel County, Ocean Downs Casino in Worcester County, Hollywood Casino Perryville in Cecil County, and Rocky Gap Casino Resort in Allegany County.
Revenue down in all six casinos
The individual figures for Maryland’s casinos in May are as follows:
- MGM National Harbor in Prince George’s County: $71,716,915 (-5.6% from May 2022)
- Live! Casino & Hotel in Anne Arundel County: $58,934,594 (-6.0%)
- Horseshoe Casino Baltimore in Baltimore City: $17,516,043 (-0.9%)
- Ocean Downs Casino in Worcester County: $8,402,111 (-1.2%)
- Hollywood Casino Perryville in Cecil County: $7,602,531 (-7.4%)
- Rocky Gap Casino Resort in Allegany County: $5,229,172 (-7.8%)
The revenue from table games for the first months of 2023 stands at $280.9 million, out of which $42 million was sent to the ETF. The fund has also received $216.1 million from slot machines, which generated a combined $564 million in revenue thus far this year.
Even though there is a dip in casino gaming in Maryland this year, sports betting has gained momentum. As per a recent survey, a quarter of the citizens in the state noted that they planned to bet with a sportsbook.
Original article: https://www.yogonet.com/international/news/2023/06/07/67432-maryland-casinos-rake-in-1694-million-in-gaming-revenue-during-may
