According to reports filed by the state’s lottery and gaming agency, sports betting and casino gaming in Maryland generated over $81 million in taxes in May.
Maryland Casino Revenue May 2024
Maryland’s six retail casinos generated $173 million in revenue from slot machines and casino games during May, the ninth-best single-month total in the history of the state’s casino program and an increase of $3.7 million (2.2%) compared to May 2023.
Maryland casino gaming contributions to the state during May totaled $74.4 million, an increase of $3,617,661 (5.1%) compared to May 2023.
Contributions to the Education Trust Fund during May were $53.6 million, an increase of $2.1 million (4.2%) compared to May 2023.
With 2,285 slot machines and 207 table games available, MGM National Harbor recorded top revenue numbers in May of $72.2 million, an increase of $550,561 (0.8%) from May 2023.
Rocky Gap Casino Resort in Allegany County reported the lowest revenue at $4.9 million, a decrease of $258,409 (-4.9%) from May 2023. The location features 641 slot machines and 16 table games.
Caesar Entertainment’s Horseshoe Casino in Baltimore reported a -15.9% drop in revenue in May at $14.7 million, a decrease of $2,793,033 from May 2023. The casino hosts 1,373 slot machines and 115 table games for guests.
Maryland’s six privately owned casinos:
- MGM National Harbor in Prince George’s County
- Live! Casino & Hotel in Anne Arundel County
- Horseshoe Casino Baltimore in Baltimore City
- Ocean Downs Casino in Worcester County
- Hollywood Casino Perryville in Cecil County
- Rocky Gap Casino Resort in Allegany County
Maryland Sports Betting Revenue May 2024
Maryland sports betting market generated $6.9 million in tax revenue after operators handled over $431 million in bets during May.
Sports wagering tax contributions go to the Blueprint for Maryland’s Future Fund, which supports public education programs. During the first 11 months of Fiscal Year 2024 (July 2023 through May 2024) sports wagering has contributed $54.5 million to the Blueprint for Maryland’s Future Fund.
May’s $6.9 million was the second-best single-month total, representing a 50.3% increase from the $4.6 million in May 2023. The $431.5 million in handle is an increase of 34.8% compared to the $320.2 million total in May 2023.
Mayland has 13 retail sportsbooks and 13 mobile/online apps available for bettors.
FanDuel Sportsbook recorded the largest mobile handle for May taking in $195.1 million from bettors. From that handle, the sportsbook paid out $165.1 million in winnings, holding 15.4% of the handle. FanDuel ended the month paying $4 million in tax contributions to the state.
BetMGM Sportsbook reported the biggest retail handle at their MGM National Harbor location in Prince George’s County. The sportsbook handled $3.8 million in bets and paid out $3.4 million in winnings, ending with a hold of 10.1%. BetMGM paid $37,496.01 in taxes for the month.
With 26 sportsbooks open in the state, Maryland is open to adding more.
Florida-based Betr Sportsbook was granted initial approval for a Maryland sports betting license just last month.
Founded by professional boxer Jake Paul and CEO Joey Levy, the sports betting operation now needs approval from Maryland’s Sports Wagering Application Review Commission before taking customer bets. Betr is already available in Ohio and Virginia with Colorado, Kentucky, Indiana, and Pennsylvania as target states in the future.
