Maryland’s casino industry continued to grow strongly last year as revenue swelled 8.2 percent to nearly $1.75 billion, according to data compiled by state casino regulators.
Five of the state’s six casinos saw revenue growth in 2018 with MGM National Harbor seeing the biggest gain, while Horseshoe Casino Baltimore faltered. The reports, from the Maryland Lottery and Gaming Control Agency, also show the extent to which slots remain king despite the state’s legalization of table games a few years ago.
The MGM casino, which opened on the Potomac River in Prince George's County in December 2016, saw revenue grow nearly $100 million last year to about $705 million.
The impact of MGM's arrival may have pinched Horseshoe Casino Baltimore the most. Revenue slipped nearly $12 million at the Russell Street casino, near M&T Bank Stadium, to $260 million in 2018.
Revenue at Live Casino & Hotel at Arundel Mills mall in Hanover rose 5.5 percent to $575 million.
Revenue from those three casinos dwarfs those of the other three — Ocean Downs in Worcester County, Hollywood Casino Perryville and Rocky Gap Casino Resort in Western Maryland, all of which reported gains last year.
Overall, slots revenue from the state's six casinos topped table game revenue by more than $400 million last year. Slots accounted nearly $1.1 billion in revenue while table games such as blackjack and roulette brought in about $654 million.
Table games continue to be more important at the state’s larger casinos accounting for nearly 48 percent of revenue at MGM, 42 percent at Horseshoe and 32 percent at Live. It’s about 15 percent or less at the other three.
Here, too, MGM shows its impact as its table game revenue soared by $46 million even as table games declined at every other casino in the state.
The state’s share of casino revenue largely supports the state's education trust fund as well as horse racing and grant funds for the communities around the casinos.