Maryland Casinos Posted $162.7m, Surpassed $2B Mark in FY2022

Maryland: Gaming Revenues for Casinos Hit $170.6M in March

The Maryland Lottery and Gaming Control Agency released Wednesday its June casino gaming report to reveal that the state’s six privately owned casinos did not have the best of a month in June but managed to complete fiscal 2022 with a bang.

Surpassing Significant Milestone

Maryland casinos generated revenues of $162.7 million in June to post their first month since March 2022 with revenues lower than $170 million. Compared with June 2021, the casinos posted slight revenue growth of 0.8%.

Despite the small setback in June, the last month of the fiscal year 2022, the six casinos managed to generate over $2 billion for the entire fiscal year, up $257 million, or 14.7% from the fiscal year 2021’s $1.75 billion, bringing Maryland’s lifetime revenue to $13.8 billion.

In June, the state of Maryland received $68.4 million in casino contributions to support its education trust fund, general fund, as well as small business and businesses owned by women and minorities.

Leaders Retained Positions

MGM National Harbor and Live! Casino & Hotel ranked first and second well ahead of the remaining four, accounting for 76% of the state’s total revenue. Compared year-over-year, MGM extended the gap after its revenues increased by 7.4% while revenues at Live! Casino & Hotel decreased by 4.2%. Horseshoe Casino Baltimore came third posting a marginal increase of 0.2% year-over-year.

The other three casinos, Ocean Downs Casino, Hollywood Perryville and Rocky Gap Casino, posted $8.6 million, $7.4 million and $5.3 million to account for year-over-year decreases ranging from 3.3% to 7.2%.

Considered across verticals, $108.7 million of the total, or 67%, came from slot win, with the biggest share generated by Live! Casino & Hotel Maryland – $40.8 million – followed closely by MGM National Harbor with $38 million. Horseshoe Casino Baltimore came third with $11 million.

The remaining $54 million came from table games operations where MGM National Harbor was the undisputed leader with $30.4 million, twice as much as the second-placed Live! Casino & Hotel Maryland which accounted for $15.2 million, and five times more than the third – Horseshoe Casino Baltimore – with $6.1 million.

Author: Ian Douglas