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