The casino business appears to be booming in the Old Line State. Maryland’s six casinos had a strong performance in May 2024, generating a total of $173.2 million in revenue from slot machines and table games. This figure represents a 2.2% increase compared to May 2023.
May casino revenue in Maryland is the second-best this year and May 2024 stands as the ninth all-time month for Maryland’s casino revenue.
Maryland casinos have reported 13 months with casino revenue exceeding $170 million. Here’s a breakdown of the biggest revenue-making months in history:
Notable months include October 2022 (with a staggering $212.9 million) and July 2022 (reaching $181.5 million).
Casino gaming contributions to the state totaled $74,449,247 in May, reflecting a 5.1% increase compared to May 2023. Additionally, contributions to the Education Trust Fund reached $53,663,328, marking a 4.2% increase over the same period. These casino revenues also benefit the communities, jurisdictions, Maryland’s horse racing industry, and small, minority- and women-owned businesses.
Ocean Downs Casino outperformed Hollywood Casino in May 2024. It’s the first time Ocean Downs reported higher revenue than Hollywood since November 2023.
Historically, Hollywood dominates the matchup, but Ocean Downs benefited from warmer weather and Eastern Shore visitors.
Ocean Downs’ revenue trend in 2023:
In addition to the casino, Ocean Downs offers harness racing, while Hollywood Casino goers can also bet on live thoroughbred racing.
The legalization of online casinos in Maryland depends on voter approval in a general election. With no referendum scheduled for this November, the next opportunity for voter consent will be in 2026. Therefore, it is irrelevant whether the legislature approves iGaming in 2025 or 2026, as voter approval is the decisive factor.
This additional two-year period allows lobbyists to work with the two Maryland casinos that opposed online casino legalization: Ocean Downs Casino and Racetrack, and Live! Casino and Hotel Maryland. Both establishments, reflecting their employees’ concerns about market cannibalization, resisted the move.
In short, Maryland’s casinos continue to thrive, contributing significantly to the state’s economy. May 2024 was a strong month, and the industry remains dynamic and resilient.