Maryland casinos earn $1.98 billion in 2023, retail gaming revenue down 3%
Maryland casinos won about $1.98 billion in 2023, down 3.3% from 2022. The year-over-year difference meant the six commercial casinos' combined profits were about $68.5 million lower in gaming dollars than last year.
MGM National Harbor Live at Oxon Hill! Hanover's Casino & Hotel Maryland, Baltimore's Horseshoe Casino, Berlin's Ocean Downs, Hollywood Casino Perryville and Flintstone's Rock Gap ended the year with $165.5 million in December. Gross Gaming Revenue (GGR) includes gaming winnings from the casino's land-based slot machines and table games. This does not include sports betting.
December GGR edged up 0.3% from December 2022. State gaming tax dollars allocated to the Education Trust Fund totaled more than $50.6 million that month.
Destruction 2023
2023 marks the end of the COVID-19 resurgence in Maryland’s casino industry. After two years of strong gaming resurgence, live gaming slowed down in the Old Line State last year.
Across the Potomac River from its integrated resort outside Washington, D.C., MGM — the richest casino in the United States outside Las Vegas — continues to dominate Maryland. MGM National Harbor won $485.3 million on its 2,266 slot machines last year and added $348.8 million on 207 gaming tables for a total gaming revenue of $834.1 million.
However, MGM won in 2023 but lost nearly 6% year over year. Table games bear the greatest responsibility, with National Harbor winning nearly $407.5 million at the table in 2022.
live! The casino near BWI Airport again came in second place. Last year, the casino's 3,849 slot machines generated $502.5 million in winnings and its 179 table games generated $207.4 million in winnings, for a total winnings of approximately $709.9 million. Wins in 2023 are up 0.6% from 2022.
The casino struggled last year despite significant investments by Caesars Entertainment at its Horseshoe property near Baltimore's professional sports complex, including the opening of an outdoor top-tier golf attraction. Horseshoe GGR fell below $200 million at just $192.4 million, down more than 8% from the $209.8 million the casino won in 2022.
Maryland's three resort-style casinos won $216.8 million on slot machines and $29.5 million on table games, for a profit of about $246.3 million. The three casinos operated a combined 2,170 slot machines and 57 gaming tables in December, with gambling business down 2% from 2022.
Sports Betting Premium
While traditional gaming offerings at the six land-based casinos declined in 2023, these losses were easily offset by Internet Sports Betting. Online sportsbooks will begin accepting bets in November 2022, nearly a year after casinos began in-person sports betting in December 2021.
Maryland sportsbooks have won more than $264.5 million from bettors through November. While a large portion of profits will be shared with the casino's third-party sports betting partners, such as DraftKings and FanDuel, the new revenue may be enough to offset declines in land-based slots and table games in 2023.
The Maryland Lottery and Gaming Commission is expected to release December and full-year 2023 sports betting data this week.
This may not be a strong report for oddsmakers, as the favored Baltimore Ravens are 4-0 in December with wins over the Los Angeles Rams, Jacksonville Jaguars, San Francisco 49ers and Miami Dolphins. In addition to the team's thrilling victory over the Rams at 37 minutes and 31 seconds in overtime, the Ravens tied the lead.
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Source: www.casino.org
