Gaming in the Old Line State continues to grow. Maryland’s casino sector demonstrated marginal growth in October 2024, generating revenue from both slot machines and table games, per a recent article. The six establishments collectively brought in $160,524,322, marking a $712,557 (or 0.45%) increase compared to October 2023. The rise, while moderate, has nonetheless shown consistency in the industry’s financial contributions to the state and its beneficiaries, including several specific public programs and industries. MGM National Harbor remained the largest contributor, with steady gains according to the report. In October 2024, it garnered $69,188,622, representing a $1,897,093 (2.8%) increase from the previous year. Its selection of 2,288 slot machines and 211 table games continues to appeal to a broad player base, ensuring it maintains its dominance in the state’s casino market.
For this article, SBS will be going over what to look for from the latest gaming news coming from Maryland along with some additional notes and info regarding MD gaming and more.
Also covered in the article, Live! Casino & Hotel followed closely with a revenue figure of $58,663,905. Per sources, this was an increase of $874,425 (1.5%) compared to October 2023. Live! features a higher number of slot machines, at 3,833 in total, complemented by 179 table games, likely contributing to its consistent performance. Other casinos experienced mixed results in their October 2024 revenues. Horseshoe Casino, for instance, with its 1,344 slot machines and 115 table games, experienced a decrease of 7.5% dropping to $13,758,540 in total earnings. This downward trend represents a $1,113,756 fall from the previous year and may indicate changing player preferences or increased competition in the region.
Additionally, Ocean Downs Casino, which operates 868 slot machines alongside 19 table games, witnessed the steepest decline. Its revenue dropped by 10.8%, earning $7,336,583, a decrease of $892,357 from October 2023. Rocky Gap Casino and Resort experienced a similarly substantial decline with a revenue decrease of 11.1%, totaling $4,374,080. While these declines indicate some fluctuation within the market, Hollywood Casino recorded better fortunes. Per the report, it achieved 7.3% growth, bringing in $7,202,591 – a $492,036 gain compared to October of the prior year. Moreover, it operates 722 slot machines and 23 table games, consistently showing positive revenue trends.
Noted in the same report, several public sectors in Maryland benefit from casino-generated revenue, most notably the state’s Education Trust Fund. October 2024 saw a contribution of $49,460,899 to the Fund, representing a 2.0% increase from October 2023. Additionally, the funds provided by casino revenues serve purposes in statewide education initiatives, from infrastructure development to educational resource allocation. Importantly, October’s contribution propelled the cumulative contributions to the Trust Fund past a major milestone. Since the state’s first casino began operations in 2010, casino revenue has now contributed more than $6.005 billion. Moreover, this highlights both the sustained profitability of the state’s casino operations and their role in supporting public programs the report says.
Revenue from Maryland’s casinos also supports local communities and jurisdictions where the casinos operate, the state’s horse racing industry, and various small businesses. Per the report, this includes small, minority, and women-owned businesses that feature prominently among those benefitting from this revenue stream. Additionally, this helps create opportunities for enhanced community development and economic growth that extend beyond the immediate entertainment and gaming sectors.
According to the report, the variance in growth rates across Maryland’s six casinos signals possible changes in player behavior and preferences. Noted above, MGM National Harbor and Live! Casino & Hotel have remained the top earners, partly due to their geographic positioning in active metropolitan areas. These locations also draw from broader populations, including both local players and tourists, which may provide some protection from the volatility seen in other casinos. Additionally, their large-scale gaming offerings allow for more flexibility in attracting different types of players, making it easier for them to adapt to changing trends in consumer tastes.
On the other hand, the same report points out, casinos like Rocky Gap and Ocean Downs recorded revenue declines that could present challenges. Ocean Downs, in particular, with the notable 10.8% drop in October 2024, faces competition, possibly from both online platforms and other physical locations. Additionally, smaller casinos located in less densely populated regions may feel pressure to remain competitive.
Once you are all dialed in relation to all of the latest updates coming from the Maryland gaming scene, make sure to check out the excellent array of information for you over at SBS. For more information and analysis on the topic covered here, the Maryland sports betting guide has your back with all of the latest gaming updates coming from the Old Line State. On a separate note, for those interested in some higher stakes wagering, make sure to peruse the VIP sports betting sites rundown. This page can give you the breakdown on if you qualify, and see if VIP wagering makes sense for you and beyond. Finally, if you are intrigued by diversifying your payment options, the payment methods breakdown has you covered with a variety of options from crypto to more traditional banking routes.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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