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Maryland casino revenue was $159.5 million in September, down 8.3% from August but up 2.8% year over year, according to the latest data from Maryland Lottery and Gaming (MLG).
September marks the ninth straight month in 2024 that revenue has exceeded $150 million. Revenue could easily eclipse $250 million a month if Maryland online casinos were legalized. However, iGaming remains banned in the Old Line State.
Key takeaways
- Maryland’s land-based casino revenue reached $159.5 million in September, up more than $4 million year on year but down more than $14 million from August.
- Revenue has stayed above $150 million every month this year.
- Online casinos could bring Maryland casino operators at least $100 million more revenue per month.
Maryland is missing out on online casino revenue
Land-based casinos are the only legal casino gaming allowed in Maryland. As such, the state does not have real-money online casinos. That’s an important distinction to make during revenue discussions, as online casinos can often match or exceed what a state’s operators earn from land-based casinos.
In the past, legislators have tried to push an iGaming bill through but ultimately failed after pushback from unions and well-known casino developer Cordish Cos.
At the time, lawmakers didn’t just lose a vote; operators lost more than $100 million dollars a month. PlayUSA predicts that Maryland online casinos could have generated $108 million in August (the most recent month in which all iGaming states report online casino revenue) had they been legal:
| August online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue | |
|---|---|---|---|
| Pennsylvania | $225 million | 13 million | $17.31 |
| New Jersey | $198.4 million | 9.3 million | $21.33 |
| Michigan | $196.7 million | 10 million | $19.67 |
| Connecticut | $44.6 million | 3.6 million | $12.39 |
| West Virginia | $20.4 million | 1.8 million | $11.33 |
| Delaware | $5.8 million | 1 million | $5.80 |
| Rhode Island | $3 million | 1.1 million | $2.73 |
| Average | $99.1 million | 5.7 million | $17.42 |
| Maryland (projected) | $108 million | 6.2 million | $17.42 |
PlayUSA predicts Maryland’s online casinos could generate more than $1 billion in revenue over the course of the year.
All six Maryland casinos see revenue fall in September
September was a bad month for Maryland casinos across the board, according to state data. All properties in the state saw monthly losses:
| September 2024 revenue | August 2023 revenue | % change | |
|---|---|---|---|
| MGM National Harbor | $66,952,859 | $75,008,793 | -10.74% |
| Live! Casino & Hotel | $59,595,589 | $61,875,902 | -3.69% |
| Horseshoe Casino Baltimore | $13,119,567 | $14,427,383 | -9.06% |
| Ocean Downs Casino | $8,758,104 | $9,884,650 | -11.40% |
| Hollywood Casino Perryville | $6,660,049 | $7,721,754 | -13.75% |
| Rocky Gap Casino | $4,424,740 | $5,006,035 | -11.61% |
| Totals | $159,510,908 | $173,924,517 | -8.29% |
Hollywood Casino Perryville suffered the biggest loss at -13.75%, followed by Rocky Gap Casino (-11.6% and Ocean Downs Casino (-11.4%).
Live! Casino & Hotel fared the best this past month, dropping just 3.7% compared to August.
The good news is that revenue was up year over year. MLG reported revenue was up 2.8% compared to September 2023, or just over $4.4 million.
