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Maryland casinos see slowdown in gaming revenue

March 6th, 2023 by WCBC Radio

Maryland’s six casinos in February weren’t as busy as a year ago, as measured by total gaming revenue from slots and table games. Maryland Lottery and Gaming reports total gaming revenue of $167.1 million — $5.9 million less than February 2022, or a 3.6% decline.

MGM National Harbor had the smallest decline in February gaming revenue, down 0.4% to $65.6 million. Live! Casino & Hotel remains the state’s second-busiest with $55.7 million in February revenue, down 6.3%.

The largest decline was at Baltimore’s Horseshoe Casino. Its $16.3 million in February gaming revenue was down 8.1% from a year earlier.

Maryland’s three smaller casinos, Hollywood Casino, Ocean Downs and Rocky Gap Casino, all had lower gaming revenue than a year ago.

Of the total February gaming revenue, Maryland collects $48.6 million of it for various state programs, the majority of which goes to the state’s Education Trust Fund.

Despite a slower February, MGM National Harbor was the top commercial casino outside of Nevada for gaming revenue last year, grossing $884.6 million, 15% more than 2021. MGM National Harbor accounted for more than 43% of gaming revenue for all six casinos.

Live! Casino ranked No. 5 nationally for gaming revenue at commercial casinos outside of Nevada last year.

Overall, the Baltimore-D.C. market ranked third for gaming revenue, behind only the Las Vegas Strip and Atlantic City, New Jersey.