Revenue generated by casinos made a major contribution to the state finances of Maryland in December, according to figures released yesterday.  

On Tuesday, the Maryland Lottery and Gaming Commission published its figures for gaming revenues from the state’s six casinos, which showed that during the month of December, they took a total of $148,381,413, representing a 5.2 percent increase on the December 2017 take.   

As a result, contributions to the state coffers from casino gaming revenue came to a total of $61,032,048, which includes a figure of $45,792,178 for the Education Trust Fund. Revenue from casino venues also goes to support a number of projects based in the local communities and jurisdictions where the six casinos are based. In addition the Maryland horse racing industry is funded partly through taxation on gambling takings.  

The state currently has six privately owned casinos, offering both slots and table games. Of the six venues, five produced year-on-year increases on their December 2017 gaming revenue figures, with the biggest percentage increase recorded by Ocean Downs Casino, which took $5,441,771 during December, representing an increase of 17 percent on the previous year.  

The largest take was produced by MGM National Harbor, which boasts 3,137 slots machines and 198 table games. The venue recorded revenue of $59,916,626 in December 2018, while the lowest figure was produced by Rocky Gap Casino Resort, which took $4,434,132 during the month. Maryland does not currently support sports betting, although a state-wide vote approved the legalisation of wagering on sport back in November 2018.  

Image sourced from 123RF.

Published by Marcus Holland

Marcus Holland is a professional betting and financial trading writer. He has been published on various leading websites including The Street, Investing.com, Wagered.com, and Futures Mag. You can contact Marcus at marcus@bettingreporter.com.

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