Maryland Casino Revenue Surges by 5% to $165.6 Million in December

In an exciting turn of events, Maryland's online casino industry witnessed an impressive surge in revenue during December. According to official reports released on the 8th of January 2024, the state's online casinos collectively generated a whopping $165.6 million in revenue for the month. This surge comes as a positive development for the state's gambling sector.

December's revenue figures outshone those of the previous month, with a 5% increase from November. Maryland casinos amassed $165.6 million in December compared to $157.7 million in November. Additionally, contributions to the state's finances also experienced a slight uptick, rising from $69.7 million to $70.2 million.

MGM National Harbor emerged as the frontrunner among the state's privately-owned casinos, raking in a remarkable $70.8 million in revenue during December. Live! Casino & Hotel followed closely behind with $60.6 million, creating a significant gap between these top two contenders and Caesars Entertainment-owned Horseshoe Casino, which recorded $15.2 million in revenue.

Despite the month-on-month increase, when observing year-on-year growth, Maryland's December revenue appears less impressive. December 2023's $165.6 million revenue was only 0.2% higher than the $165.2 million generated in the same month the previous year. Furthermore, contributions to the state's finances saw a modest increase of just 0.7%.

This lackluster year-on-year performance can be attributed to the notably poor showings of Horseshoe Casino and Rocky Gap Casino, with their December revenues plummeting by 9.6% and 8.2%, respectively, compared to the same month in the previous year. Even the leading MGM National Harbor only managed a 2.1% year-on-year increase, while Live! Casino and Hotel's revenues grew by just 1.5% from December 2022.