November 2023 Sees Maryland Casinos Bring in $157.7 Million

In November 2023, Maryland’s six casinos generated a total revenue of slightly above $157.7 million, according to The Southern Maryland Chronicle (SMC). This figure reflects a 3.5% decline compared to the same month in 2022.

The decline in revenue meant around $5.6 million less in financial contributions to the state through gaming tax and other levies and fees. The November gaming revenues resulted in the casino industry contributing $66,150,282 to the state funds, which is a 2.3% decrease from the contributions made in November 2022.

A significant portion of the tax revenues goes to the Education Trust Fund, which saw a decrease of around $1.5 million to total $47,727,562 in November 2023. The casino gaming revenue also supports educational initiatives, local communities, the state horse racing industry, and small and minority enterprises.

The six privately owned casinos across the state presented a mixed revenue trend in November 2023. MGM National Harbor reported a 6.9% decline, generating $66,641,884 in revenue. Live! Casino & Hotel reported a 1.6% increase, generating $58,030,400 in revenue. Horseshoe Casino experienced a 10.7% decline, generating $14,600,437 in revenue. Ocean Downs Casino and Hollywood Casino reported increases of 7% and 0.1%, respectively, while Rocky Gap Casino experienced a 6.5% decline.

The SMC reports that the different results reported by the six casinos across the state are dependent on a series of factors, with each casino differently responding to contingencies or other conditions impacting their operations. However, the gaming revenues of approximately $157.7 million generated in November 2023 are expected to continue providing significant support to the state economy.

This news and the revenue figures have significant implications for the state’s tax revenues and financial contributions from the casino industry. Despite the decline in revenue, the casino industry’s contribution remains an integral part of the state’s economy.