The Maryland Lottery and Gaming Commission has disclosed its combined revenue figures from slot machines and table games for December 2024. The state’s six privately owned casinos generated $164.1 million, reflecting a slight 0.9% year-on-year decline compared to December 2023. Despite the minor drop, the figures underscore the continued importance of Maryland’s casino sector in generating substantial state contributions, particularly for education.
Maryland Lottery and Gaming Reports $164.1 Million in December 2024 Casino Revenue
State Contributions from December Revenue
Maryland’s gaming revenue in December 2024 resulted in $69.8 million in state contributions, representing a 0.5% decrease compared to the previous year. Of this amount, $50.4 million was allocated to the Education Trust Fund (ETF), which experienced a similar decline of 0.5%. The remaining contributions were directed to local jurisdictions, casino capital projects, and other state initiatives, emphasizing the multifaceted benefits of gaming revenue to Maryland’s economy.
Performance Overview of Maryland Casinos
The December revenue breakdown for Maryland’s six privately owned casinos highlights both growth and challenges within the sector:
1. MGM National Harbor
MGM National Harbor, located in Prince George’s County, maintained its dominance in the market by generating $73.6 million in revenue. This marks an impressive 4.0% year-on-year increase, positioning it as the leading contributor among Maryland casinos. MGM National Harbor’s strong performance underscores its appeal to a wide range of players, bolstered by its premium offerings and strategic location near Washington, D.C.
2. Live! Casino & Hotel
Live! Casino & Hotel in Anne Arundel County secured the second-highest revenue at $59.1 million, although this figure reflects a 2.4% decline compared to December 2023. The casino remains a significant player in the market, drawing visitors with its diverse entertainment options and extensive gaming floor.
3. Horseshoe Casino Baltimore
Horseshoe Casino Baltimore reported the steepest decline among the six casinos, with revenue falling 12.9% to $13.2 million. This decrease highlights the competitive challenges faced by the casino, particularly in attracting and retaining patrons in an evolving market.
4. Hollywood Casino Perryville
Hollywood Casino Perryville generated $7.1 million, experiencing a 6.0% year-on-year decline. As one of the smaller casinos in the state, Hollywood Casino continues to cater to a niche audience, but the revenue drop suggests potential areas for improvement in market engagement.
5. Ocean Downs Casino
Ocean Downs Casino, located near Maryland’s Eastern Shore, showed resilience with a slight 0.8% increase in revenue, totaling $7.1 million. This marginal growth reflects the casino’s steady performance in attracting a loyal customer base, particularly during the holiday season.
6. Rocky Gap Casino Resort
Rocky Gap Casino Resort reported revenue of $3.9 million, a decline of 11.9% compared to December 2023. The casino, known for its scenic location and recreational offerings, may need to explore innovative strategies to bolster its gaming revenue.
Fiscal Year Performance: Positive Trends Amid Challenges
Despite December’s slight year-on-year decline, Maryland’s casino revenue for the first six months of fiscal year 2025 shows encouraging trends. Revenue increased by 1.2% compared to the same period in fiscal year 2024. State contributions from gaming revenue rose 2.5%, with the Education Trust Fund seeing a 2.6% increase, demonstrating the broader growth in the sector.
November 2024 Revenue Highlights
The December results followed a robust performance in November 2024, when casinos generated $158.1 million in revenue. Contributions to the Education Trust Fund increased by 4.2%, reflecting positive momentum earlier in the fiscal year. This growth highlights the dynamic nature of Maryland’s gaming industry, which continues to adapt to market demands and regulatory changes.
Key Factors Driving Casino Revenue Trends
1. Market Competition and Consumer Preferences
The varying performances of Maryland’s casinos highlight the competitive landscape and the need to align offerings with consumer preferences. Casinos like MGM National Harbor have successfully leveraged their strategic location and premium amenities to sustain growth, while others, such as Horseshoe Casino Baltimore, face challenges in maintaining market share.
2. Seasonal Influences
December typically sees fluctuations in gaming revenue due to holiday-related travel and spending patterns. The mixed performance among casinos underscores the importance of seasonal promotions and events in driving foot traffic during this period.
3. Regulatory Environment
Maryland’s robust regulatory framework ensures transparency and responsible gaming practices, which contribute to the sector’s long-term sustainability. The state’s allocation of gaming revenue to education and other public initiatives reinforces the social and economic benefits of the industry.
The Role of the Education Trust Fund
The Education Trust Fund (ETF) remains a cornerstone of Maryland’s strategy for utilizing gaming revenue. In December 2024, contributions to the ETF amounted to $50.4 million, slightly down from the previous year. Over the first six months of fiscal year 2025, however, ETF contributions increased by 2.6%, showcasing the long-term growth potential of this critical funding source. The ETF supports public schools, helping to improve educational outcomes across the state.
Looking Ahead: Opportunities for Growth
1. Leveraging Emerging Trends
To sustain growth, Maryland’s casinos must capitalize on emerging trends, such as the integration of digital gaming platforms and enhanced customer engagement through loyalty programs.
2. Strategic Investments
Investments in facility upgrades, new gaming technologies, and diversified entertainment offerings can help casinos attract a broader audience and boost revenue.
3. Marketing and Partnerships
Targeted marketing campaigns and partnerships with local businesses can enhance the appeal of casinos, particularly those facing revenue declines.
Conclusion
Maryland’s casino industry continues to be a significant contributor to the state’s economy, despite December 2024’s modest year-on-year revenue decline. With $164.1 million in total revenue and $69.8 million in state contributions, the sector remains vital in funding public initiatives, particularly education. The strong fiscal year-to-date growth further underscores the resilience and potential of Maryland’s gaming market.
FAQs About Maryland Lottery and Gaming December 2024 Revenue
1. What was the total casino revenue reported by Maryland Lottery and Gaming in December 2024?
Maryland Lottery and Gaming reported a total of $164.1 million in combined revenue from slot machines and table games at the state’s six privately owned casinos in December 2024.
2. How does the December 2024 revenue compare to the previous year?
The December 2024 revenue reflects a 0.9% decrease compared to December 2023.
3. How much of the December 2024 gaming revenue was allocated to the state?
State contributions from December 2024 gaming revenue amounted to $69.8 million, which represents a 0.5% decrease compared to December 2023.
4. What was the contribution to the Education Trust Fund (ETF) from December’s gaming revenue?
Contributions to the Education Trust Fund totaled $50.4 million, marking a 0.5% decrease compared to December 2023.
5. Which casino generated the highest revenue in December 2024?
MGM National Harbor led all Maryland casinos, generating $73.6 million in revenue, an increase of 4.0% year-on-year.
6. Which casino reported the largest percentage decrease in revenue?
Horseshoe Casino Baltimore experienced the largest percentage decline, with revenue falling 12.9% to $13.2 million in December 2024.
7. Did any casino report an increase in revenue?
Yes, MGM National Harbor saw a 4.0% increase in revenue, and Ocean Downs Casino reported a slight 0.8% increase, generating $7.1 million.
8. How did Maryland’s casino revenue perform during the first six months of fiscal year 2025?
Through the first six months of fiscal year 2025, Maryland’s casino revenue increased by 1.2% compared to the same period in fiscal year 2024.
9. What was the growth in state contributions for fiscal year 2025 so far?
State contributions from gaming revenue rose by 2.5%, with the Education Trust Fund seeing a 2.6% increase during the first six months of fiscal year 2025.
10. How did November 2024 revenue compare to December 2024?
In November 2024, Maryland casinos generated $158.1 million in revenue. Contributions to the Education Trust Fund in November increased by 4.2%, indicating strong performance earlier in the fiscal year.
11. What challenges did Horseshoe Casino Baltimore face in December 2024?
Horseshoe Casino Baltimore faced a 12.9% decline in revenue, the steepest drop among Maryland’s casinos, likely due to competitive pressures and market challenges.
12. What role does the Education Trust Fund (ETF) play in Maryland’s economy?
The Education Trust Fund (ETF) receives a significant portion of gaming revenue and is used to support public education across Maryland, contributing to better educational outcomes.
13. What opportunities exist for Maryland’s casino industry to grow?
Maryland’s casinos can leverage emerging trends such as digital gaming platforms, make strategic investments in facilities, and improve customer engagement through loyalty programs to drive growth.
