Maryland Casinos Set New Monthly Revenue Record

For the second time in three months, Maryland’s six casinos set a single-month gaming revenue record, generating $172,394,450 during May 2021, according to the Maryland Lottery and Gaming Control Agency. The figure surpasses the previous single-month record of $169,179,016, which was set in March 2021.

Last month’s casino revenue represents an increase of $20,118,651 (13.2 percent) compared to May 2019, when gaming revenue was $152,275,799. All six casinos were closed throughout May 2020 due to the COVID-19 pandemic.

According to a press release:

Casino gaming contributions to the state in May 2021 totaled $73,358,682, an increase of $9,703,306 (15.2%) compared to the $63,655,376 contributed to the state in May 2019.

Contributions to the Education Trust Fund (ETF) in May 2021 were $53,285,419, an increase of $5,537,940 (11.6%) compared to the $47,747,479 in ETF contributions during May 2019. Casino gaming revenues also support the communities and jurisdictions where the casinos are located, 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, the supplemental funding must total at least $125 million in fiscal 2020, $250 million in fiscal 2021, and $375 million in fiscal 2022.

In all subsequent years, 100% of the gaming revenues dedicated to public education must be used for supplemental funding.

Maryland has six privately owned casinos that offer both slot machines and table games: MGM National Harbor in Prince George’s County; Live! Casino & Hotel in Anne Arundel County; Horseshoe Casino Baltimore in Baltimore City; Ocean Downs Casino in Worcester County; Hollywood Casino Perryville in Cecil County; and Rocky Gap Casino Resort in Allegany County.

Stay tuned to Conduit Street for more information.