Maryland Casinos Achieve Impressive Revenue Milestone in May

Maryland recorded $173.2 million in gaming income for May, making it the ninth-best month in the state’s history, which is a noteworthy accomplishment for the state’s casino business. For the six privately owned casinos in Maryland, this figure shows a 2.2% growth from the previous year.

Out of the six casinos, three reported higher revenue in comparison to the previous year. At the top of the pack, Live! Casino and Hotel had a notable increase of 10.3%, bringing in little over $65 million. The revenue of Hollywood Casino increased by $204,423 to $7.8 million. A little rise of $551,000 was recorded by MGM National Harbor, bringing their total income for May 2024 to $72.3 million.

However, not all casinos enjoyed growth. Horseshoe Casino faced the steepest decline, with a 15.9% drop in revenue, totaling $14.7 million. Rocky Gap Casino also saw a reduction, with revenue down by $258,000, resulting in a total of $4.97 million. Ocean Downs Casino reported a slight decrease of $50,000, ending the month with $8.35 million.

Contributions to the State and Community

The casinos in Maryland produced strong earnings, which resulted in significant payments to the state. Contributions from casino gambling reached $74.45 million in May 2024, up $3.62 million from the same month the year before. This spike was especially beneficial to the Education Trust Fund, which received $53.7 million, an increase of 4.2% over the previous year.

In addition to the Education Trust Fund, Maryland’s horse racing sector, small, minority, and women-owned companies, as well as local communities are supported by casino profits, which contribute to the state’s gaming industry’s overall economic effect.

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Casino & Sports

In order to maintain compliance and provide a responsible gaming environment, the state’s casinos are regulated by the Maryland Lottery and Gaming Control Agency. The casino sector in Maryland is supported in its growth and stability by this regulatory framework.

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