Maryland casino revenue up 8% in October; Live! beats MGM for second time since 2017

Live! Casino and Hotel has beaten MGM National Harbor in gross gaming revenue for the second time in four years, thus becoming Maryland’s top-earning venue in the month of October. The sole exception to MGM’s leadership in these last years was a coronavirus-era month, when capacity limits were still in place.

For the first time since February 2017, the venue operated by The Cordish Companies took in more revenue than its long-time rival during a regular month: the Anne Arundel County facility generated $60.8 million, 22.7% up from last year, while MGM National Harbor posted $55.9 million, down 1.2%.

The third place in the revenue race was taken by Baltimore’s Horseshoe Casino, which reported $17.2 million in revenue, a 0.9% decrease. The top five is completed by Ocean Downs Casino ($7.7 million, up 10.3%) and Hollywood Casino ($7.6 million, up 9%). Rocky Gap Casino placed sixth, with $5.8 million in revenue, up 10.5% from last year.

According to the official data presented by the Maryland State Lottery & Gaming Control Agency in its revenue report, all six casinos together posted about $155 million combined in October. This is about 8.6% up versus 2020, an expected increase given that venues operated at 50% of their capacity amid pandemic-related restrictions.

About $69 million (44%) of the total revenue went to Maryland’s coffers. This figure represented a 15% increase versus the nearly $60 million contributed to the state last year. Contributions to the state’s Education Trust Fund were about $50 million, above the $43.5 million in 2020.

The fierce competition between Live! Casino and MGM National Harbor is an ongoing one: although Live! used to lead revenue in the state during its first years, MGM quickly reversed this shortly after opening its doors in December 2016.

The MGM venue first surpassed Live’s revenue in March 2017. Since then, it held the lead with only June 2020 as an exception. However, this month presents a special case, as casinos were operating in a partial manner.

The Maryland gaming industry has seen a consistent demand since Gov. Larry Hogan lifted restrictions back in March: the six state venues posted record revenue of $180.1 million in July, the highest monthly mark in state history. Additionally, year-to-date GGR totals about $1.59 billion, a healthy figure up $613 million than the same period 2020.