The state of Maryland has turned into a major player in the gaming industry, even if it isn’t one of the biggest markets in the United States. Now that we are in the month of May, the Maryland Lottery and Gaming has come out with the April revenue and handle report.
It was another big month for the casino in the state of Maryland, but things were actually slower last month than during the same month in 2023. April is never a popular month at the casinos, but Maryland has been able to be attractive to players.
The total revenue from the month was just over $163 million, and that is a massive jump from when things first started in this state. Unfortunately this was a drop of more than six percent from the total that was reported just 12 months ago.
Maryland was able to collect nearly $70 million in tax revenue, and that money is then split up evenly between many different funds. Despite seeing a decrease in total revenue from the April 2023 numbers, it has already been a big year for gaming in this state.
Every casino in the state of Maryland has seen a jump in revenue to begin the year, and that is a trend that should continue moving forward.
Checking out Casino Properties
Not only does the revenue report from April show the total amount for the state of Maryland, but also breaks things down by casino. The top casinos did not change last month, and there are a couple of properties that continue to set the tone.
MGM National Harbor led the state with over $68 million in revenue back in April, but it still saw a decrease of more than $7 million from the April 2023 numbers. This is a property with over 2,200 different slots, but that’s not the most in the state.
Live! Casino & Hotel came in second place last month by posting a total revenue of over $60 million. That casino has been incredibly consistent as it only saw a slight loss from the April 2023 revenue total.
The Horseshoe Casino finished in third place for the month of April, and that is really where the gap is in this state. Other casinos are giving bettors in the state options, but three casinos continue to see the most bets.
Other Reports Coming
Now that Maryland has kicked things off, other states are going to start coming out with their April gaming revenue reports. There are only a handful of states with online casino gambling, but every state will come out with sports betting and in-person casino revenue reports.
Maryland has been putting up some great numbers overall, but there are other states that continues to see massive growth in each industry. Maryland has created some laws and regulations that have made things difficult for the properties in the state.
Look for the summer months to bring more revenue and action for casinos in Maryland, and things will eventually get back on track.
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