Last month, Maryland’s six casinos generated over $181.5 million in gaming revenue, contributing $76.1 million to the state.
For the second year in a row, Maryland’s six casinos began the fiscal year with a record-setting performance, generating $181,503,226 in gaming revenue during July 2022. According to Maryland Lottery and Gaming, the total surpassed the previous single-month record set in July 2021 by $1,357,710 (0.8 percent).
Contributions to the state totaled $76,074,424, a decrease of $1,263,979 (-1.6 percent) compared to July 2021. Although July 2022 marked a single-month revenue record, contributions were lower than July 2021 because table game revenues grew while slot machine revenues declined slightly. Maryland taxes slot machines at a higher rate.
Contributions to the Education Trust Fund totaled $55,273,437. Casino gaming revenues also support local communities and jurisdictions home to casinos, Maryland’s horse racing industry, and small, minority- and women-owned businesses.
Last month, Maryland’s six casinos generated over $181.5 million in gaming revenue, contributing $76.1 million to the state.
For the second year in a row, Maryland’s six casinos began the fiscal year with a record-setting performance, generating $181,503,226 in gaming revenue during July 2022. According to Maryland Lottery and Gaming, the total surpassed the previous single-month record set in July 2021 by $1,357,710 (0.8 percent).
Contributions to the state totaled $76,074,424, a decrease of $1,263,979 (-1.6 percent) compared to July 2021. Although July 2022 marked a single-month revenue record, contributions were lower than July 2021 because table game revenues grew while slot machine revenues declined slightly. Maryland taxes slot machines at a higher rate.
Contributions to the Education Trust Fund totaled $55,273,437. Casino gaming revenues also support local communities and jurisdictions home to casinos, Maryland’s horse racing industry, and small, minority- and women-owned businesses.
In 2018, Maryland voters approved an amendment to the State Constitution to safeguard State video lottery terminal revenues for education purposes.
As described in the bill and the ballot question, supplemental funding must total at least $125 million in fiscal 2020, $250 million in fiscal 2021, and $375 million in fiscal 2022. One hundred percent of the gaming revenues dedicated to public education must be supplemental funding each year thereafter.
According to Maryland Lottery and Gaming:
The gaming revenue totals for July 2022 are as follows:
MGM National Harbor (2,106 slot machines, 210 table games)
$77,236,753 in July 2022, an increase of $4,936,773 (6.8%) from July 2021
Live! Casino & Hotel (3,854 slot machines, 180 table games)
$61,571,273 in July 2022, a decrease of $1,332,700 (-2.1%) from July 2021
Horseshoe Casino (1,518 slot machines, 131 table games)
$18,398,111 in July 2022, a decrease of $946,577 (-4.9%) from July 2021
Ocean Downs Casino (849 slot machines, 19 table games)
$10,518,255 in July 2022, an increase of $25,225 (0.2%) from July 2021
Hollywood Casino (705 slot machines, 18 table games)
$7,546,197 in July 2022, a decrease of $1,236,626 (-14.1%) from July 2021
Rocky Gap Casino (626 slot machines, 16 table games)
$6,232,637 in July 2022, a decrease of $88,385 (-1.4%) from July 2021
Learn more about casino gaming revenues.
https://conduitstreet.mdcounties.org/2022/08/08/maryland-casinos-generate-single-month-revenue-record/