Maryland casino revenue reaches $159 Million in September 2024

Anchal Verma October 10, 2024

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Maryland casino revenue reaches $159 Million in September 2024

Maryland’s casino industry generated $159.5 million in gaming revenue across the state’s six privately owned casinos, showing strong growth in September 2024. This is a 2.8 percent increase compared to the same month last year.

Revenue growth boosts state contributions

In September alone, Maryland‘s casino gaming contributions totalled $68.7 million, marking a 3.4 percent rise from the last year. Of this, $49.5 million was allocated to the Maryland Education Trust Fund, showing a year-on-year increase of 3.5 percent. These funds are crucial in supporting vital state initiatives, including education, local communities, the horse racing industry, and minority- and women-owned businesses.
These revenues play an important role in supporting various state initiatives, including education, local communities, the horse racing industry and minority and women-owned businesses.

MGM National Harbour leads the growth

MGM National Harbor, in Prince George’s County, led Maryland’s casinos with impressive growth. It reported $66.9 million in revenue for the month, an eight percent increase compared to September 2023. Its dominance in the state’s casino landscape is largely due to its prime location and diverse entertainment offerings, drawing in both locals and tourists.
Live! Casino & Hotel in Anne Arundel County followed closely, generating $59.5 million in revenue. This marked a two percent year-on-year growth.

Mixed results for other casinos in Maryland

While the overall trend was positive, not all casinos saw growth. Horseshoe Casino Baltimore reported a 9.2 percent decline in revenue. Similarly, Rocky Gap Casino Resort in Allegany County saw an eight percent drop in revenue, likely influenced by its more remote location.
Ocean Downs Casino in Worcester County and Hollywood Casino Perryville in Cecil County both saw minimal changes. Ocean Downs posted a slight 0.3 percent increase, while Hollywood Casino saw a small 0.9 percent decrease in revenue, showing relative stability in their operations.

Positive outlook for Maryland’s casino sector

Despite a few declines, the overall revenue growth in September signals a positive trend for Maryland’s casino industry. The contributions to the state’s coffers, particularly the Education Trust Fund, underscore the importance of the casino industry in supporting critical public services and community initiatives.
Maryland’s casinos are well-positioned to maintain their upward trend, providing both economic benefits and entertainment options for residents and visitors alike.

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