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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% |
| Totals | $159,811,765 | $212,922,022 | -24.94% |
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% |
| Totals | $159,811,765 | $155,097,778 | 3.04% |
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 |
| Total | 9,662 | $107,520,543.77 | $11,128 |
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.
