Maryland Casino Revenue Declines 2.1% in August as Legal Battle Over Prediction Markets Intensifies

Maryland's casino industry reported weaker financial results in August, with statewide gaming revenue declining 2.1% compared to the same period last year. Total revenue reached $170.3 million, down from $173.9 million in August 2024, according to official figures released by Maryland Lottery and Gaming. The revenue breakdown shows video lottery terminals generated $118.2 million, slightly lower than last year's $118.5 million, while table games contributed $52 million, a decrease from $55.4 million.

MGM National Harbor, the state's largest casino operator, reported a significant 6.5% revenue decline to $70.1 million, substantially impacting the statewide results. Hollywood Casino Perryville experienced the steepest decline among Maryland properties with a 13% revenue drop to $6.7 million. Conversely, Live! Casino & Hotel and Horseshoe Casino Baltimore posted modest gains of 2.1% and 4.4% respectively, reaching $63.2 million and $15.1 million in revenue.

Alex Murphy, a digital PR specialist at Casinos.com, noted that Maryland's casino market continues to show mixed results, with some properties posting steady growth despite broader headwinds. The performance gap between the state's largest operator and mid-tier casinos will be important to watch moving forward.

The revenue report emerges as Maryland becomes central to a significant legal battle concerning prediction markets. A federal judge recently ruled that contracts offered by Kalshi, a New York-based trading platform, could qualify as sports betting under state law, with the company currently appealing the decision. Murphy emphasized that the Kalshi case highlights the blurred lines regulators are facing between traditional sports betting and emerging prediction markets. The outcome of this dispute could set an important precedent not just for Maryland, but for the broader U.S. gaming landscape.

For business and technology leaders, these developments signal potential market fragmentation and regulatory challenges in the evolving gaming sector. The mixed casino performance suggests varying competitive strategies and market positioning, while the legal proceedings around prediction markets could open new investment opportunities or create additional regulatory hurdles for digital gaming platforms. The Maryland situation serves as a microcosm of broader industry trends where traditional gaming operators must navigate both economic headwinds and emerging technological competition.