Maryland casinos see $170M revenue in March with MGM National Harbor as top performer

The Maryland Lottery and Gaming Control Commission reported Tuesday the state’s financial results for March, and showed casinos raked in more than $170 million in gaming revenue during that period.

Even though last month’s performance saw a 1% increase compared to March 2021, back when the COVID-19 capacity restrictions were first lifted, March’s revenue is one of the highest for the state, representing a 19% increase from this point in the fiscal year 2021. 

The casino with most revenue was MGM National Harbor, which saw $67.7 million. Live! Casino & Hotel followed with $62 million, and Horseshoe Casino came in third with $18.8 million. Hollywood Casino saw $8.4 million, Ocean Downs Casino garnered $7.7 million and Rocky Gap Casino kept $5.6 million. 

Both Horseshoe Casino Baltimore and Hollywood Casino Perryville lost revenue compared to March 2021. The Baltimore property saw a decrease of 4.6% while Hollywood dropped by 2.6%.Ocean Downs Casino, however, saw the largest boost with a 2.8% increase. 

Compared to last month, every casino increased its total revenue, and each casino added to its slot win. On the table game side, MGM and Horseshoe came away with less money than in February.

More than $71.9 million of those revenues, roughly 40%, were contributed to the state’s coffers. Maryland’s six casinos generated over $52.3 million for the state’s Education Trust Fund, which is $700,000 more than what was contributed in the same period last year. 

It is expected that the state’s sports betting report will arrive in the coming weeks. Maryland is still hopeful to have mobile betting licenses approved by September 2022, but the state’s Sports Wagering Application Review Commission cannot proceed until they grasp the hurdles for new licensees, mainly through surveys.