Summary:
- Earnings came in at $174.3 million for slots and table games.
- The amount was $10 million more than June 2023.
- The total was down around 4% when compared to July 2022.
Gaming regulators have posted the July totals; the month was good for Maryland casinos. It was a huge jump from June 2023 but decreased compared to July 2022. The decrease is not a sign of a slowdown since July 2022 was a record-setting month for the state. A total of $174.3 million was earned in July, over $10 million more than June’s totals, a huge accomplishment for the state.
Record-Setting Comparison
It’s important to note that July 2022 was a record-setting month in Maryland gaming. The state hit its highest-grossing month ever at $181.5 million. This was the highest total ever recorded in 13 years. As amazing as it was, the same amount was hit in October of that year. Revenues for July 2023 did not hit that amount, but it was close, which should be recognized.
Around $73 million was added to tax payments of the total amount earned. Over $52 million was added to the state’s Education Trust Fund. The state has paid over $360 million in monthly taxes with the monthly contributions.
Top Earners in Maryland
The state has six operational casinos; the top spot is MGM National Harbor. The operator earned over $72 million for the month. This slightly decreased from last year’s totals at around 5%. Second place went to Live! Casino & Hotel. The venue earned over $62 million. They were the only ones to earn an increase from July 2022, bringing over $1.2 million from the previous year.
Horseshoe Casino rounded out third, bringing in $16 million. This was a sharp decrease of 12.9% from last year. Ocean Downs Casino was down just over 4% with $10.1 million. Hollywood Casino Perryville came in with $7.5 million in earnings, a slight drop of 0.6%. Lastly, Rocky Gap Casino earned $5.8 million, a drop of 6.6%.
Even though the month decreased from last year, the state is still on track to finish better in 2023 than in 2022. The state earned over $1.183 billion from January to July this year. This time last year, $1.511 was generated which was better than the previous year.
The new fiscal year begins in July every year, so casinos must figure out how to continue to match the previous performance. Updates to properties, new games, and services are one way changes can be made to bring in players continually. It will be interesting to see how the casinos fare as the year continues. Will a new record be set?
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