Everything’s coming up aces for Maryland casinos, as the state’s six commercial properties brought in a record $181.5 million in gross gaming revenue (GGR) in July. It was the second straight year that Maryland’s six privately owned casinos started the fiscal year (July 1 – June 30) with a bang. Last July, the state’s gaming floors set a record with $180.1 million in GGR.
The lofty numbers were buoyed by strong performances by the state’s top two casinos – MGM National Harbor and Live! Casino and Hotel. They brought in $77.2 million and $61.6 million, respectively.
Not only was July the best month on record, but the 2022 Fiscal Year also set an all-time mark, according to Maryland Lottery and Gaming Director John Martin.
“We had a record-setting Fiscal Year 2022, and we’ll be announcing those figures soon, but for now we congratulate our casino partners on a great first month of FY2023,” Martin. “The casinos are continuing to expand their entertainment options as they rebound strongly from the pandemic, and their success translates into funding for schools, communities and businesses.”
In July, contributions to MD’s Education Trust Fund (ETF) were $55.3 million. According to state law, the ETF receives 15% of the proceeds from table games, while slot machine proceeds are divided differently for each casino.
Breakdown of Maryland’s Six Casinos
Maryland has six privately owned casino properties that have been in operation since 2008. The chart below shows the breakdown of revenue at each location for July 2022, as well as the percent change from last July.
| Casino | July 2021 | July 2022 |
|---|---|---|
| MGM National Harbor | $72,299,979 | $77,236,753 (6.8%) |
| Live! Casino & Hotel | $62,903,973 | $61,571,273 (-2.1%) |
| Horseshoe Casino | $19,344,688 | $18,398,111 (-4.9%) |
| Ocean Downs Casino | $10,493,030 | $10,518,255 (0.2%) |
| Hollywood Casino | $8,782,823 | $7,546,197 (-14.1%) |
| Rocky Gap Casino | $6,321,022 | $6,232,637 (-1.4%) |
Since inception, Maryland’s casinos have produced just shy of $14 billion in gaming revenue and have contributed over $4.6 billion to the state’s ETF.
Also read: Online Sportsbook Bonuses That Maryland Bettors Can Look Forward To
How Does Sports Wagering Compare?
The MLG has not yet released its July earnings report for Maryland sports gambling. In June, the state’s sportsbooks reported a record-low handle of $19.1 million. That is not a huge surprise, as legal sports betting in Maryland has only been around since last winter, and the summer months are typically slower without the NFL, college football, NBA, and NHL. Maryland online sports betting is expected to increase the state’s revenue when it launches.
To date, Maryland sportsbooks have brought in a combined $174.8 million in handle and have contributed $2.9 million to the state, thanks to a 15% tax rate.
The Old Line State just introduced its sixth live retail sportsbook – BetRivers, which opened up at Bingo World. Sports bettors now have one more in-person option to place a wager while they continue to wait for the rollout of online betting.
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