Maryland Sees Increase in Gambling Revenues - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Maryland Sees Increase in Gambling Revenues

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BALTIMORE - The Maryland Lottery and Gaming Control Agency (MLGCA) announced its sales and revenues from the past fiscal year Monday, including a 2.4 percent increase from the previous fiscal year.

Traditional lottery sales and casinos sent a total of $849.2 million to the state's General Fund and Education Trust Fund in FY2014, the MLGCA reports.

Though the state saw a rise in overall gambling, traditional lottery sales dipped nearly two percent this fiscal year, with the agency generating $1.724 billion in sales.

“Lottery sales certainly have been impacted by the growth of Maryland's casino industry,” MLGCA Director Stephen Martino said. “But we continue to innovate and modernize our traditional lottery brand so we can better compete for the public's entertainment dollars. A reduction in traditional lottery revenue occurred last fiscal year, but that money combined with Education Trust Fund proceeds from casinos produced an overall increase in gaming revenue to the state.”

Maryland currently has four casinos, with a fifth set to open in Baltimore at the end of the month.

Casino games at the four operating casinos generated $833,309,539 in revenue in FY2014, nearly 40 percent of which went to the state's Education Trust Fund.

Meanwhile, employment at Maryland's casinos grew to approximately 4,000 this past fiscal year, with full-time employees benefiting from comprehensive healthcare and retirement investment options.

“The MLGCA staff and employees will continue to maximize revenue for the good causes of Maryland by promoting the responsible sale of lottery games and from the thorough, transparent regulation of casinos,” Martino said.

Since it began in 1973, the Maryland Lottery has contributed more than $13.9 billion in revenue to the state. Maryland's casino program has generated $1.74 billion million in revenue since in started in September 2010, with more than $786.5 million supporting education in the state.

 

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