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After posting the second-highest December revenue total in state history, Maryland casinos saw across-the-board revenue drops in January, month-on-month and year-on-year, according to the latest data from Maryland Lottery and Gaming.
January casino revenue down $14 million compared to December
The Old Line State’s six casinos generated $153.2 million in January, falling around $14 million from Maryland’s December 2023 gaming revenue and accounting for a 7.4% decline.
The first month of the year hit Rocky Gap Casino particularly hard—revenue fell 28%. Hollywood Casino Perryville also struggled, facing a 19.6% drop in the first month of the year.
Year-on-year numbers for Maryland casinos fell 8.4%
January’s revenue struggles weren’t just the result of a strong December; the numbers were down compared to January 2023, too.
| Casino | January 2024 Revenue | January 2023 Revenue | % Change |
|---|---|---|---|
| MGM National Harbor | $66,041,474 | $72,330,775 | -8.70% |
| Live! Casino & Hotel | $56,782,092 | $58,237,817 | -2.50% |
| Horseshoe Casino Baltimore | $14,570,608 | $17,579,860 | -17.12% |
| Ocean Downs Casino | $6,555,351 | $7,086,038 | -7.49% |
| Hollywood Casino Perryville | $6,105,335 | $7,006,549 | -12.86% |
| Rocky Gap Casino | $3,188,456 | $5,029,360 | -36.60% |
| Totals | $153,243,316 | $167,270,398 | -8.39% |
Rocky Gap revenue was down 36.6%, with Horseshoe Casino Baltimore posting a 17.12% loss. And, like the monthly numbers, every casino in the state saw their numbers drop.
While Rocky Gap faced the biggest loss by percentage, Horseshoe Casino Baltimore saw the biggest dollar drop, stumbling more than $3 million in January compared to the year before.
Relatively speaking, Live! Casino & Hotel fared well, dropping only 2.5% year-on-year compared to the 8.4% overall decline.
MGM National Harbor posted strong per-slot revenue numbers
Casinos brought in $98.3 million in slots revenue to kick off the year’s first month. MGM National Harbor and Live! Casino & Hotel, which account for more than half of the slot machines in Maryland casinos, generated more than $75 million in revenue.
| Casino | # of Slot Machines | Gross Revenue | Per-Slot Gross Revenue |
|---|---|---|---|
| MGM National Harbor | 2,266 | $37,288,684.45 | $16,455.73 |
| Live! Casino & Hotel | 3,849 | $37,733,841.48 | $9,803.54 |
| Horseshoe Casino Baltimore | 1,401 | $9,512,032.58 | $6,789.46 |
| Ocean Downs Casino | 845 | $5,484,460.37 | $6,490.49 |
| Hollywood Casino Perryville | 709 | $5,344,723.92 | $7,538.40 |
| Rocky Gap Casino | 616 | $2,934,004.71 | $4,762.99 |
| Total | 9,686 | $98,297,747.51 | $10,148.44 |
While MGM and Live!’s gross revenue was similar, MGM’s per-slot revenue total was considerably higher than Live!’s because the casino has roughly 1,600 slot machines.
