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New data from the Maryland Lottery and Gaming Control Agency shows a slight February casino revenue dip.
The report shows the six Maryland casinos combined to generate $157 million in gaming revenue from slot machines and table games. However, the total represents a 3.6% decrease ($5.9 million) compared to February 2022.
Maryland casinos slump in February
The February slump did trickle over to state tax contributions. Casino gaming contributed $66.9 million in taxes for the month, down 1.9% ($1.3 million) compared to Feb. 2022. This includes $48.6 million to the Education Trust Fund (ETF).
Casino revenue also supports other communities and jurisdictions where the casinos are located. It also helps Maryland’s horse racing industry and small, minority and women-owned businesses.
February’s revenue numbers break down as follows:
- Slot machine revenue at all six properties was $107.3 million
- Table games collected $49.6 million
- Video lottery terminals (VLTs) faired well collecting $39.6 million
And for Fiscal YTD 2023, VLTs have collected $328,080,398.
Although MGM National Harbor ($65.5 million) continues to be the state’s top market leader, only one property experienced a February increase in revenue.
For the second month in a row, Ocean Downs Casino, which has 848 slot machines and 19 table games, generated $6.8 million, an increase of $244,570 from Feb. 2022. Last month, Ocean Downs generated $7 million in revenue, up 41% from January 2022.
February gambling revenue by venue:
- MGM National Harbor: $65,597,173 (a decrease of 0.4% from February 2022)
- Live! Casino & Hotel: $55,697,859 (a decrease of 6.3% from February 2022)
- Horseshoe Casino: $16,290,547 (a decrease of 8.1% from February 2022)
- Hollywood Casino: $7,302,105 (a decrease of 7.2% from February 2022)
- Ocean Downs Casino:$6,836,983 (an increase of 3.7% from February 2022)
- Rocky Gap Casino: $5,331,258 (a decrease of 3.3% from February 2022)
March Madness is on the horizon
Maryland casinos kicked off 2023 with $167.3 million in revenue resulting in $70.7 million in tax revenue. Although February numbers are down, casinos could see a spike in revenue this month with the Mens NCAA Tournament on the horizon.
For Fiscal YTD 2023, Maryland casinos have generated roughly $785,206,096 in gross gaming revenue.
