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Maryland Lottery And Gaming Generate Record Revenue In 2019 Fiscal

Maryland Lottery And Gaming Generate Record Revenue In 2019 Fiscal
Maryland Lottery And Gaming Generate Record Revenue In 2019 Fiscal

Maryland lottery and casinos have generated record revenues in 2019 fiscal. Both the lottery and the six casinos in the state have contributed a record $1.31 billion to the state revenues.

It should be noted that the lottery and casino operations in the state support education, public health and safety, the environment, veterans’ organizations, and the state’s horse racing industry.

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.

In the previous 2018 Fiscal, the revenue was recorded $1.252 billion which is up 4.7 percent to 1.311 billion in 2019 fiscal. Moreover, the operating expenses remained low at 3.5 percent of lottery sales and 1 percent of gambling revenue for casino gambling operations.

“We’re pleased to be able to report on new records, but equally, we’re proud to serve as a vital source of revenue for the state,” said Maryland Lottery and Gaming Director Gordon Medenica.

“We are extremely grateful for the efforts of our employees, our retailers, our vendors, and our casino partners. The hard work continues as we move forward into a new year.”

Gov. Larry Hogan congratulated Maryland Lottery and Gaming for its strong fiscal-year performance.

“The $1.3 billion generated by the casinos and the Lottery provide funding for essential state programs that our citizens rely on every day,” Hogan said.

“Education is our top priority, and with the passage of the lockbox amendment last year, our students and classrooms will benefit from a contribution of nearly $543 million to the Education Trust Fund.”

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Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at hm@casino.buzz

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