Maryland Casino Revenue Flatlines in November as Regulators Warn Sportsbooks on Prediction Markets

Combined revenue for Maryland’s six commercial casinos remained flat during November, generating $158.8 million, a 0.4% year-on-year increase from the $158.1 million generated in November 2024.  

 Slot revenue totalled $111.5 million in November, a 1.1% decline from the $112.8 million generated the year prior. In contrast, table games revenue rose 4.2%, from $45.3 million to $47.2 million.  

 At the same time as casino sector revenue appears to have flatlined, the state regulator has been warning sportsbook operators not to get involved in the controversial prediction market industry.  

MGM National Harbour Increases its Dominance 

The Maryland Lottery and Gaming has published its monthly report, which shows that of the six venues in the state, three saw a year-on-year increase in revenue, while three saw a decline.  

The MGM casino, which has a dominant 43% share of the overall commercial market, increased its revenue from $65.5 million to $69.0 million, representing a year-over-year rise of 5.3%. Rocky Gap Casino also recorded a significant increase of 5.1% to $4.4 million.  

 At the other end of the scale, Live! Casino and Hotel saw a revenue drop of 4.5% from last year’s November return of $60.3 million, while Hollywood Casino was down 8.1% year-over-year, and Ocean Downs reported a 1.9% decline from $6.6 million to $6.5 million.  

Maryland Warns Operators Against Sports Event Contracts 

Meanwhile, Maryland gaming regulators have issued formal warnings to the state’s sports betting operators, instructing them not to participate in sports prediction markets.  

 In letters sent to all 12 online operators, Secretary John Martin of the Maryland Lottery and Gaming Control Commission stated that associations with unlicensed platforms offering sports event contracts could be considered illegal activity and could affect a company’s license.   

 The Commission emphasized that sports event contracts fall outside Maryland’s legal gambling structure. Maryland joins several states, including Massachusetts, Michigan, Ohio, Arizona, and Nevada, that have issued similar directives.  

 The warnings arrive as major companies prepare to enter the sector. DraftKings, FanDuel, and Fanatics have each announced that they will launch standalone prediction market apps before the end of 2025, although they have committed to not offering these in states where they hold betting licenses.  

 Baltimore’s Lawsuit Against DraftKings and FanDuel Returns to State Court 

The two biggest players in the US sports betting market are also facing separate legal troubles in Maryland after a federal judge returned Baltimore City’s consumer protection lawsuit against DraftKings and FanDuel to state court.  

 US District Judge Stephanie Gallagher said that Maryland’s courts were better suited to interpret the interaction between the city’s Consumer Protection Ordinance and state gambling law.  

 Baltimore has argued that the companies violate local rules by targeting problem gamblers through their mobile betting platforms, although DraftKings and FanDuel have appealed the decision. At the same time, prediction market operator Kalshi is also appealing after a federal judge refused to block Maryland regulators from enforcing a cease-and-desist order against the company.