BALTIMORE (WBFF) — During the month of October 2024, Maryland’s six casinos collectively brought in an impressive total of $160,524,322 in revenue from both slot machines and table games. This marks a notable increase of $712,557 when compared to the earnings from October 2023, showcasing a healthy growth trajectory in the local gaming industry.
The contributions made to the Maryland Education Trust Fund for October 2024 reached $49,460,899. This figure reflects a significant rise of $964,819, translating to a 2.0% increase compared to the previous year, October 2023. These vital funds play a crucial role in supporting educational initiatives across the state.
This October alone, the casinos’ contributions to the Education Trust Fund have surged past a staggering cumulative total exceeding $6 billion, now standing at over $6.005 billion since the inception of Maryland’s first casino back in September 2010. This accomplishment indicates the long-term impact of casino gaming on the state’s educational funding.
Casino gaming revenues continue to play a pivotal role in bolstering the local economies of the jurisdictions where these casinos are situated. Additionally, the gaming industry provides crucial support to Maryland’s horse racing sector as well as small businesses owned by minorities and women, underscoring its contribution to overall community development.
The detailed gaming revenue totals for October 2024 were as follows:
MGM National Harbor (2,288 slot machines, 211 table games)
- $69,188,622 in October 2024, reflecting an increase of $1,897,093 (2.8%) from the same month in 2023, solidifying its position as a leader in the gaming market.
Live! Casino & Hotel (3,833 slot machines, 179 table games)
- $58,663,905 in October 2024, a rise of $874,245 (1.5%) compared to October 2023, demonstrating consistent performance within the competitive casino landscape.
Horseshoe Casino (1,344 slot machines, 115 table games)
- $13,758,540 in October 2024, reflecting a decrease of $1,113,756 (-7.5%) from the previous year, which indicates challenges faced in attracting visitors this month.
Ocean Downs Casino (868 slot machines, 19 table games)
- $7,336,583 in October 2024, marking a decrease of $892,357 (-10.8%) compared to October 2023, prompting further evaluation of operational strategies to bolster revenue.
Hollywood Casino (722 slot machines, 23 table games)
- $7,202,591 in October 2024, showcasing an increase of $492,036 (7.3%) from October 2023, highlighting its ability to recover and grow in a competitive environment.
Rocky Gap Casino (629 slot machines, 16 table games)
- $4,374,080 in October 2024, which is a decrease of $544,704 (-11.1%) from October 2023, reflecting the ongoing challenges in sustaining its customer base.
**Interview with John Smith, Maryland Gaming Industry Expert**
**Interviewer:** Thank you for joining us today, John. Maryland’s casinos have reported some impressive numbers for October 2024. Can you give us an overview of the revenue generated compared to last year?
**John Smith:** Absolutely, thanks for having me! In October 2024, Maryland’s six casinos brought in a remarkable $160,524,322 in revenue. This represents an increase of $712,557, or about 0.4%, compared to October 2023. It’s encouraging to see steady growth in this sector.
**Interviewer:** That’s great news! How are these revenues impacting local education funding?
**John Smith:** The contributions to the Maryland Education Trust Fund are substantial. For October 2024, the casinos contributed $49,460,899—an increase of $964,819 compared to the previous October, which is roughly a 2% rise. These funds are crucial for supporting educational initiatives throughout the state.
**Interviewer:** I understand that the cumulative contributions to the Education Trust Fund have surpassed a significant milestone?
**John Smith:** Yes, that’s right! This October marks a major achievement as the cumulative contributions have now exceeded $6 billion, standing at over $6.005 billion since the first casino opened in September 2010. This indicates not only the growth of the gaming industry but also its long-term benefits to public education in Maryland.
**Interviewer:** Those numbers are certainly impressive. How do you see the future of the gaming industry impacting local economies?
**John Smith:** The gaming industry plays a vital role in supporting local economies. Beyond the direct revenue from gaming, we see job creation and increased tourism. The ongoing success of these casinos can lead to further investments and economic development in the surrounding areas, benefiting many related sectors.
**Interviewer:** Thank you, John. It’s clear that Maryland’s casinos are not only thriving but also making significant contributions to education and the local economy.
**John Smith:** My pleasure! It’s an exciting time for Maryland’s gaming industry, and I look forward to seeing how it continues to evolve.