Maryland Casino Revenue Jumps By Eight Percent In 2018State's Six Casinos Generated Just Under $1.8 Billion In Gaming Revenue |
|
The month of December closed out a steady year for Maryland casinos, which generated a record $1.746 billion in 2018. The mark represented an 8.1 percent increase from 2017’s $1.614 billion, according to a report from Maryland Lottery and Gaming.
The state has six commercial casinos, led by MGM National Harbor, which opened in late 2016. The property saw revenue increase by 15.8 percent overall to $705 million. Live! Casino and Hotel also saw a bump of 5.5 percent to $575.3 million.
Ocean Downs revenue jumped substantially to $75.8 million, while Rocky Gap and Hollywood Casino Perryville posted more modest gains. The lone loser on the year was Horseshoe Casino Baltimore, which actually saw revenue drop by 4.2 percent to $260 million.
Maryland voters overwhelmingly approved Question 1 on the state midterm ballot, which increases the amount of casino tax revenue earmarked for education. The measure passed with nearly 88 percent of the nearly 2 million votes cast.
Maryland casinos have generated a total of nearly $7.8 billion in gaming revenue since the first casino opened its doors in 2010. Casinos are taxed at between 50 and 62 percent, depending on the type of wager being played. Table games revenue is taxed at just 20 percent.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
