Maryland’s December revenue displayed a promising uptick, exceeding the November figures by 5%, reaching a total of $165.6 million compared to the previous $157.7 million.
Contributions to the state’s coffers also saw a modest increase, climbing from $69.7 million in November to $70.2 million in December.
MGM National Harbor once again asserted its dominance among the state’s six privately-owned casinos, contributing significantly to the overall figures with $70.8 million in December revenue.
Live! Casino & Hotel followed closely with $60.6 million in revenue, leaving a substantial gap between them and the third-ranked Horseshoe Casino, owned by Caesars Entertainment, which reported $15.2 million in December revenue.
Bringing up the rear was Rocky Gap Casino, with a meager $4.4 million in revenue, lagging behind the next lowest performer, Hollywood Casino, by $3.2 million.
Despite the month-over-month increase, when assessing year-on-year growth, Maryland’s December revenue showed a less impressive trajectory.
The $165.6 million generated in December 2023 was only marginally higher, by 0.2%, compared to the $165.2 million recorded in the same month the previous year. Contributions to the state increased by a modest 0.7%.
These year-on-year numbers were undoubtedly affected by the lackluster performances of Horseshoe Casino and Rocky Gap Casino, both of which experienced significant declines in December revenue compared to the same month the previous year, with drops of 9.6% and 8.2%, respectively.
Even MGM National Harbor, the front-runner, only managed a 2.1% year-on-year increase, while Live! Casino and Hotel, in second place, saw a mere 1.5% growth in revenues compared to December 2022.
In summary, while Maryland’s casinos experienced a month-on-month revenue boost in December, the year-on-year figures revealed a relatively stagnant growth rate, primarily due to the underperformance of some key players in the state’s gambling industry.