If Maryland casinos could’ve gone back in time last month, they would’ve made a lot more money.
The state’s six casinos generated $159.8 million in revenue from slots and table games this past month, down more than $52 million from October 2022. The 24.9% drop is due to a massive 41.5% drop in revenue at MGM National Harbor.
A look at Maryland’s casino revenue for October
Five of Maryland’s six casinos saw their year-over-year drop from October 2022 to October 2023:
- MGM National Harbor
- Live! Casino & Hotel
- Horseshoe Casino Baltimore
- Hollywood Casino Perryville
- Rocky Gap Casino
The five casinos combined for more than $53 million in revenue losses, year-on-year.
The lone yearly revenue winner was Ocean Downs Casino, which saw more than $800,000 in growth.
|Casino||October 2023 Revenue||October 2022 Revenue||% Change|
|MGM National Harbor||$67,291,529||$115,016,950||-41.49%|
|Live! Casino & Hotel||$57,789,660||$59,662,797||-3.14%|
|Horseshoe Casino Baltimore||$14,872,296||$17,436,983||-14.71%|
|Ocean Downs Casino||$8,228,940||$8,021,596||2.58%|
|Hollywood Casino Perryville||$6,710,555||$7,541,445||-11.02%|
|Rocky Gap Casino||$4,918,785||$5,242,251||-6.17%|
Monthly revenue is a bright spot
Though the year-on-year revenue numbers were more trick than treat for Maryland casinos in October, there were successes. Specifically, monthly revenue was up 3% compared to an abysmal September gaming revenue in Maryland.
MGM National Harbor, the state’s flagship revenue earner, posted the biggest monthly gain: 8.59%.
Horseshoe Casino Baltimore and Rocky Gap Casino also saw their revenue rise in October compared to September, while Live! Casino & Hotel, Ocean Downs, and Hollywood Casino Perryville experienced revenue decreases.
|Casino||October 2023 Revenue||September 2023 Revenue||% Change|
|MGM National Harbor||$67,291,529||$61,969,980||8.59%|
|Live! Casino & Hotel||$57,789,660||$58,412,443||-1.07%|
|Horseshoe Casino Baltimore||$14,872,296||$14,451,736||2.91%|
|Ocean Downs Casino||$8,228,940||$8,733,540||-5.78%|
|Hollywood Casino Perryville||$6,710,555||$6,722,454||-0.18%|
|Rocky Gap Casino||$4,918,785||$4,807,625||2.31%|
Slots revenue dips but table games save the day
Slots revenue was down for the month, dropping from $108.2 million in September to $1o7.5 million in October.
|Casino||# of Slot Machines||Gross Revenue||Per-Slot Gross Revenue|
|MGM National Harbor||2,264||$39,180,145.02||$17,306|
|Live! Casino & Hotel||3,846||$40,811,491.00||$10,611|
|Horseshoe Casino Baltimore||1,400||$10,113,997.70||$7,224|
|Ocean Downs Casino||866||$7,309,250.66||$8,440|
|Hollywood Casino Perryville||663||$5,697,223.31||$8,593|
|Rocky Gap Casino||623||$4,408,436.08||$7,076|
The main culprit behind October’s slot revenue decline was Ocean Downs, which saw a more than $2 million decrease in slots revenue.
According to Maryland Lottery and Gaming Commission’s October 2023 gaming revenue report, table games managed to negate those losses by jumping over $5 million from September.