Maryland’s gaming regulator published a financial report on local operators' October activities. The document shows the industry’s total revenue reached $ 160.5 million. Experts consider this result relatively modest since the annual increase was only $ 712,000.
Key Information from the Monthly Account
The MoM rise was better than in the previous reporting period. Nevertheless, the state’s entertainment brands demonstrated varied financial performance.
There are 6 casino properties in Maryland. Their October numbers are as follows:
- MGM National Harbor generated monthly revenue of $ 69.2 million, up $ 1.9 million YoY;
- Live! Casino & Hotel gained profits of $ 58.7 million, $ 875,000 more than last year;
- Horseshoe Casino's turnover dropped 7.5% from 2023 to almost $ 13.8 million;
- Rocky Gap Casino closed the period down 11.1% YoY with $ 4.4 million;
- Ocean Downs Casino's results were $ 7.3 million, a 10.8% yearly decline;
- Hollywood Casino's revenue uplifted 7.3% from 2023 to $ 7.2 million.
The report shows that Maryland’s entertainment sector continues to evolve overall. However, it currently lacks consistency and stability to guarantee a sustained development of its verticals.
Increase in State Contributions
The gaming market’s mixed but still positive growth trend has led to enlarging investment. In October, the volume of taxes and mandatory payments to the treasury from the gambling sector climbed by 1.9% YoY to about $ 68.6 million.
The funds went not only to the state’s authorities but also to the local Education Trust Fund. The organisation received $ 49.5 million, almost $ 1 million more than last year.
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