Casinos Contribute $1.3 Billion to Maryland State Coffers

Posted on 21 April 2023

Team admin

The combined taxation figure of the Maryland Lottery and all statewide casinos has broken the previous record in the last fiscal year.

The total figure directed towards the state of $1.3 billion is up 4.7% from the previous fiscal year, totaling $1.2 billion.

The Statewide Lottery made a whopping $593 million in generated revenue towards the state from total sales of $2.1 billion.

There are 6 casinos in Maryland, each in a different town. The first to open was the Hollywood Casino in Perryville. The Horseshoe Casino is located in the state’s largest city, Baltimore. The largest casino is the Live! Casino & Hotel in Hanover.

Between them, the casinos made a contribution of $717 million towards the state including $542.7 million going straight to the Maryland Education Trust Fund.

This fact was emphasised by the State’s Governor, Larry Hogan, who was not shy in commenting on how beneficial gambling revenue is to Maryland’s progress and future.

“The $1.3 billion provides funding for essential state programs that our citizens rely on every day. Education is our top priority. Our students and classrooms will benefit from a contribution… to the Education Trust Fund.”

Gordon Medenica, the Maryland Lottery & Gaming director, was also quick to point out the industry’s utility to the state government.

“We’re happy to report on new records” he said. “But equally, we’re proud to serve as a vital source of revenue for the state…. The hard work continues as we move into the new year.”

Maryland’s feel good story is a positive for the Gaming industry, which more frequently contends with negative press. It is quite rare to hear of the positive contributions the industry can make through taxation. As is often the case with contentious industries, it is far better to tax and regulate, rather than to ban outright, pushing business underground.

More FTD News

  • Sue Dawson at EGR Power Affiliates Summit 2024

    Sue Dawson Attends EGR Event

    I was delighted and honoured to once again be invited to the EGR Power Affiliates Summit, one of the most exclusive and enjoyable events on the iGaming…

  • animingo pragmatic play

    Pragmatic Play launch Picture Bingo Game, Animingo

    …and continue to be the only bright spark in online bingo? For those who follow, the decline in popularity of online bingo is so baked in it’s…

  • FTD report igb london last hurrah

    Our Report from iGB London’s Last Hurrah

    In a slightly more bittersweet mood than usual, FTD Digital has come out the other side of yet another busy London Affiliate Conference. The usual feelings of…