Maryland Casinos Log a Modest 0.4% Revenue Increase in November, Adding $644,521 Year-over-Year

Maryland’s six casinos combined to produce $158,766,823 in revenue from slot machines and table games in November 2025, according to the latest state report. The month’s performance marks a 0.4% increase, or $644,521 more than November 2024, signaling stable but modest growth in the sector.

However, state contributions did not follow the upward trend. Casinos delivered $68,548,425 to Maryland — a 0.5% decrease compared to the prior year. Of this total, $49,447,720 went to the Education Trust Fund (ETF), also down 0.5% year-over-year.

Fiscal Year 2026: Revenue and Contributions Softening

Over the first five months of Fiscal Year 2026 (July–November):

Total gaming revenue reached $808,291,568, down 1.7% compared to FY2025

Casino contributions to the state totaled $347,691,906, declining 1.2% year-over-year

Funds from casino gaming continue to support not only the ETF, but also local jurisdictions, Maryland’s horse racing industry, and small, minority-, and women-owned businesses.

Performance by Property: Gains for MGM and Rocky Gap, Losses for Live! and Hollywood

Maryland’s six privately owned casinos — all offering both slots and table games — showed varied results in November:

MGM National Harbor (Prince George’s County) 
2,265 slots | 211 table games

$69,048,340, up $3,503,481 (5.3%)
MGM National Harbor led the market with strong growth, reinforcing its dominance.

Live! Casino & Hotel (Anne Arundel County)
3,878 slots | 179 table games

$57,593,817, down $2,712,700 (-4.5%)
Live! Casino recorded the largest revenue decline in the state.

Horseshoe Casino Baltimore (Baltimore City)
1,365 slots | 115 table games

$14,696,058, up $349,951 (2.4%)
Horseshoe posted steady but modest gains.

Hollywood Casino Perryville (Cecil County)
654 slots | 17 table games

$6,603,573, down $584,502 (-8.1%)
Hollywood Casino experienced one of the steepest drops among regional properties.

Ocean Downs Casino (Worcester County)
900 slots | 18 table games

$6,452,522, down $125,335 (-1.9%)
Ocean Downs saw a slight contraction year-over-year.

Rocky Gap Casino Resort (Allegany County)
630 slots | 12 table games

$4,372,513, up $213,625 (5.1%)
Rocky Gap delivered the strongest growth rate outside the MGM flagship.

Market Outlook: Stable Performance With Signs of Softening

While November’s revenue increase signals steady consumer engagement, declines in state contributions and year-to-date results suggest a tempered outlook for Maryland’s gaming sector heading into 2026. Market observers will be watching upcoming holiday and winter performance to assess whether the industry can regain stronger momentum in the second half of the fiscal year.

For now, the state’s casino landscape reflects a balance of modest gains and notable declines — consistent with broader trends seen across the U.S. gaming market.