Maryland Casino Revenues Drop 2.6% in February 2025
Key Takeaways
Casino revenues in Maryland declined by 2.6% in February 2025 compared to the previous year. Despite this drop, the overall trend for the current fiscal year remains positive. The state’s six casinos experienced varying results, with only MGM National Harbor achieving slight growth.
Casino Revenue Development
According to Maryland Lottery and Gaming, total casino revenues in February 2025 amounted to $155.2 million, representing a 2.6% decrease compared to February 2024. The state’s six privately operated casinos reported different results:
- MGM National Harbor: The only winner, with a 0.1% increase to $66.9 million.
- Live! Casino & Hotel: Second-highest revenue at $57 million, but a 3.9% decline.
- Horseshoe Casino Baltimore: Revenue of $14.1 million, a decrease of 5.8%.
- Hollywood Casino Perryville: $7.1 million, down 3.5%.
- Ocean Downs Casino: $6.1 million, a decline of 3.9%.
- Rocky Gap Casino Resort: The lowest revenue at $3.9 million, with the steepest drop of 10.5%.
Casinos’ Contribution to the State Budget
In February, casinos contributed $65.2 million to state programs, representing a 3.8% decline compared to the previous year. Of this amount, $47.1 million went to the Education Trust Fund, which supports the state’s educational institutions. Additional funds were allocated to local governments, the horse racing industry, and small businesses owned by minorities and women.
Long-Term Growth Remains Positive
Despite February’s decline, the long-term trend remains stable. In the current fiscal year (FYTD), total casino revenues reached $1.3 billion, reflecting a 0.9% increase compared to the previous year. These figures indicate that Maryland’s gambling industry remains resilient.
Our Assessment
The revenue decline in February may be due to seasonal fluctuations or economic factors. However, the positive fiscal year trend suggests that Maryland’s casino industry remains stable. MGM National Harbor performed well, while other casinos faced losses. The key question is whether this trend will continue in the coming months or if revenues will recover.
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