Maryland casinos slowing down in gaming revenue

The six casinos in Maryland in February were not quite busy! It was not the same almost a year ago, according to the total gaming revenue being earned from the table games and slots. The Maryland lottery and gaming report a total gaming revenue of $167.1 million — $5.9 million, which was less than February 2022, or a 3.6% decline. MGM National Harbor had witnessed the smallest decline in the gaming revenue in February, down 0.4% to $65.6 million. It happened to be the second-busiest in the state with $55.7 million in February revenue, down 6.3%.
Three smaller casinos lowered the gaming revenue
The most significant decline occurred with Baltimore’s Horseshoe Casino. Its $16.3 million gaming revenue in February went down 8.1% from a year prior to that! The three smaller casinos, Hollywood Casino, Ocean Downs, and Rocky Gap Casino in Maryland, all had a lower gaming revenue earlier than that of a year. Maryland collects $48.6 million of it for different state programs in February. However, the majority of this amount goes to the state’s Education Trust Fund.
MGM National Harbor – topping in the class of gaming revenue
MGM National Harbor was one of the top commercial casinos outside of Nevada for gaming revenue in the last year. It grossed an amount of $884.6 million, 15% more than what happened in 2021. MGM National Harbor, however, accounted for more than 43% of gaming revenue among all the six casinos. Live! Casino has ranked No. 5 nationally. The Baltimore-D.C. market ranked third in the case of gaming revenue after the Las Vegas Strip and Atlantic City, New Jersey.
Resources:
https://wtop.com/business-finance/2023/03/maryland-casinos-see-a-slowdown-in-gaming-revenue-2/