Maryland casinos report record-setting performance in July, reaching $181M in revenue

Maryland casinos report record-setting performance in July, reaching $181M in revenue

Maryland Lottery and Gaming Control Agencyhas unveiled July’s numbers for the six casinos operating in the jurisdiction over the course of the month, amounting to over $181.5 million in gaming revenue and a $76.1 million contribution to the state. 

For the second year straight, Maryland’s properties began the fiscal year with a record-setting performance. The total surpassed the previous single-month record set in July 2021, at a $1.4 million increase, or 0.8% more. 

The new record month comes after a slight dip in June, when $162.7 million in casino revenue was reported. That month closed out the Fiscal Year 2022 with over $2 billion in revenue for the first time in Maryland's history. However, FY 2023 has now the potential to break that all-time high.

The top earner of the month was MGM National Harbor with $77.2 million, an increase of 6.8% from July 2021. Live! Casino & Hotel saw $61.5 million, decreasing 2.1% in a year-over-year basis. These two venues continue dominating the market, and in July combined for about 76% of the Maryland share. Horseshoe Casino placed third, reporting $18.3 million, a decline of 4.9% compared to last year. 

Ocean Downs made $10,5 million this past month, a 0.2% rise from July 2021, one of two casinos posting an increase last month. Meanwhile, Hollywood Casino saw $7.5 million, a decrease of 14.1% in contrast with last year’s results. Finally, Rocky Gap Casino reported revenues of $6.2 million, a drop of 1.4%.  

Contributions to the state decreased by $1.2 million (1.6%)compared to the same month a year prior. Although July 2022 marked a single-month revenue record, contributions were lower as table games revenues grew while slot machines revenue saw a slight decline. Maryland taxes slot machines at a higher rate.  

Contributions to the Education Trust Fund totaled $55,273. Casino gaming revenues support local communities and jurisdictions home to casinos, Maryland’s horse racing industry, and small, minority- and women-owned businesses.

The new record comes ahead of the start of the football season, which could draw extra foot traffic to the five casinos with retail sportsbooks among their amenities.

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