August brought cheers to Maryland’s casino gambling industry. It is reported to have been the fourth-best month in the history of Maryland’s casino industry in terms of revenue.
According to the figures released by the Maryland Lottery and Gaming on Thursday, the six state casinos grossed $154,260,719 in August 2019. The figure represents a 5.4 percent year-on-year increase when compared with the revenue generated for the same period the previous year.
In August 2018, Maryland casinos had generated $146,291,028 less $7,969,691 from what they grossed in August 2019.
Maryland’s casino gambling revenues have been consistently increasing. In the 2019 fiscal Maryland lottery and casinos generated record revenues. Both the lottery and the six casinos in the state contributed a record $1.31 billion to the state revenues.
Setting a new record, the state grossed a profit of $593.1 million in 2019 fiscal. The casino gambling chipped in a record $717.5 million in revenue. Of the total revenue to the state, $542.7 million went towards the Maryland Education Trust Fund.
Both lottery and casino operations in the state support education, public health and safety, the environment, veterans’ organizations, and the state’s horse racing industry.