Maryland Casinos Report $164M Revenue in Dec 2024
**Key Highlights**
Maryland’s six casinos generated a total revenue of $164.1 million in December 2024, marking a decline of $1.5 million compared to the previous year. Contributions to the state amounted to $69.8 million, with over $50.4 million allocated to the Education Trust Fund. While some casinos experienced growth, others faced significant declines. Despite the December drop, fiscal year 2025 shows overall slight growth.
Revenue Trends for Maryland Casinos in December
The Maryland Lottery and Gaming Authority recently released revenue figures for December 2024. The state’s six casinos collectively generated $164.1 million, reflecting a decline of approximately $1.5 million compared to December 2023. The casinos’ contribution to the state was $69.8 million, a slight year-over-year decrease of 0.5%.
A significant portion of this revenue, over $50.4 million, was allocated to the Education Trust Fund. This fund supports public education initiatives in Maryland and plays a central role in financing schools and educational programs.
Mixed Results Among Individual Casinos
Not all casinos in Maryland posted positive results in December 2024. While two casinos reported revenue growth, four casinos experienced declines:
– **MGM National Harbor**: Revenue growth of 4%, generating $73.6 million.
– **Ocean Downs Casino**: Slight growth of 0.8%, with revenue just under $7.1 million.
– **Horseshoe Casino**: Largest decline at -12.9%, with revenue of $13.2 million.
– **Rocky Gap Casino**: Decline of 11.9%, with revenue of nearly $3.9 million.
– **Live! Casino & Hotel**: Decline of 2.4%, with revenue of $59.1 million.
– **Hollywood Casino**: Decline of 6%, with revenue of $7.1 million.
The results indicate that competition among casinos remains intense, and market conditions continue to have varying impacts on individual locations.
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Positive Trends in Fiscal Year 2025
Despite the slight decline in December, fiscal year 2025 shows an overall positive trend. Compared to the first half of fiscal year 2024, total casino revenues increased by 1.2%. Contributions to the state rose by 2.5%, while allocations to the Education Trust Fund grew by 2.6%.
In addition to supporting the Education Trust Fund, gambling revenues also benefit other sectors, including local communities, Maryland’s horse racing industry, and small businesses owned by minorities and women.
Our Assessment
The figures demonstrate that Maryland’s gambling industry remains an important economic driver, even as individual months experience fluctuations. Particularly noteworthy is the contribution of casinos to public education and the local economy. However, the mixed results among individual casinos highlight the influence of location and competitive market conditions.
For players and industry observers, Maryland remains an exciting market that features both large casinos like MGM National Harbor and smaller operators. The long-term success of the industry will depend on how well casinos adapt to changing market dynamics.
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