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New data from the Maryland Lottery and Gaming Control Agency shows a slight February casino revenue dip.
The report shows the six Maryland casinos combined to generate $157 million in gaming revenue from slot machines and table games. However, the total represents a 3.6% decrease ($5.9 million) compared to February 2022.
Maryland casinos slump in February
The February slump did trickle over to state tax contributions. Casino gaming contributed $66.9 million in taxes for the month, down 1.9% ($1.3 million) compared to Feb. 2022. This includes $48.6 million to the Education Trust Fund (ETF).
Casino revenue also s other communities and jurisdictions where the casinos are located. It also helps Maryland’s horse racing industry and small, minority and women-owned businesses.
February’s revenue numbers break down as follows:
- Slot machine revenue at all six properties was $107.3 million
- Table games collected $49.6 million
- Video lottery terminals (VLTs) faired well collecting $39.6 million
And for Fiscal YTD 2023, VLTs have collected $328,080,398.
Although MGM National Harbor ($65.5 million) continues to be the state’s top market leader, only one property experienced a February increase in revenue.
For the second month in a row, Ocean Downs Casino, which has 848 slot machines and 19 table games, generated $6.8 million, an increase of $244,570 from Feb. 2022. Last month, Ocean Downs generated $7 million in revenue, up 41% from January 2022.
February gambling revenue by venue:
- MGM National Harbor: $65,597,173 (a decrease of 0.4% from February 2022)
- Live! Casino & Hotel: $55,697,859 (a decrease of 6.3% from February 2022)
- Horseshoe Casino: $16,290,547 (a decrease of 8.1% from February 2022)
- Hollywood Casino: $7,302,105 (a decrease of 7.2% from February 2022)
- Ocean Downs Casino:$6,836,983 (an increase of 3.7% from February 2022)
- Rocky Gap Casino: $5,331,258 (a decrease of 3.3% from February 2022)
March Madness is on the horizon
Maryland casinos kicked off 2023 with $167.3 million in revenue resulting in $70.7 million in tax revenue. Although February numbers are down, casinos could see a spike in revenue this month with the Mens NCAA Tournament on the horizon.
For Fiscal YTD 2023, Maryland casinos have generated roughly $785,206,096 in gross gaming revenue.
