Maryland Casino Revenue Rises To Second-Highest Figure In May 2022

Maryland Casino Revenue Rises To Second-Highest Figure In May 2022

This year has been strong for Maryland casino revenue and May 2022 is another indicator of that strength. So far, no other single month (since casinos opened in the state) has been equal to it — and only one has outperformed May.

The state’s six brick-and-mortar gaming properties pushed their win to over $178.7 million during the month, the second-highest such total ever in Maryland history. While it might be short of the state’s record, it keeps 2022’s numbers as a whole on an upward trajectory.

Maryland casino revenue up almost 4% year-over-year

According to the latest report from the Maryland Lottery and Gaming Control Agency, May 2022 was a spectacular month for Maryland casinos. Not only did they hold over $178.7 million in gross gaming revenue but they also contributed more than $73.4 million in tax revenue to the state coffers.

The $178.7 million represented an increase of 3.7% over the figure for the same month last year. It’s somewhat of an unfair comparison, however. For the first 16 days of that month in 2021, COVID-19 protocols limited Maryland casinos to 50% of their normal capacity.

With the first five months of 2022 combined, gross gaming revenue for the year is up around 16% as compared to the first five months of 2021. However, not all of Maryland’s casinos saw huge increases last month.

Upticks not equal across all Maryland casino properties

In fact, only two of the six Maryland casinos improved upon their May 2021 figures. The other four actually took in more revenue during the same month last year. The two that did outperform their same-month-last-year figures did so just enough to create an overall increase, though.

MGM National Harbor saw an 11.1% uptick in its revenue as compared to May 2021 with $75.9 million in win in May 2022. Live! Casino & Hotel in Hanover experienced a more conservative 2.2% increase with its $62.7 million.

The other four properties experienced slight downturns in year-over-year comparisons. They, along with their figures, were:

Horseshoe Casino Baltimore – $17.6 million, down 9.4% YOY
Ocean Downs Casino – $8.5 million, down 1.1% YOY
Hollywood Casino Perryville – $8.2 million, down 3.2% YOY
Rocky Gap Casino – $5.6 million, down 5.5% YOY

The month’s total is also short of the state’s single-month record for casino revenue. The six properties combined to report over $180.1 million in July 2021. May’s total missed that mark by less than 1%, however.

So far this year, every single month has outperformed its predecessor from 2021. If that trend continues, Maryland casinos could see that $180.1 million mark become the new second-highest total yet this summer.

Author: Tyler Gutierrez