Maryland Lottery and Gaming generated over US$1.5B for the state this fiscal year
Tuesday 15 de August 2023 / 12:00
⏱ 2 min read
(Baltimore).- Maryland Lottery and Gaming said Monday it contributed over $1.5 billion to the state through the lottery, six casinos, sports wagering and fantasy sports in the Fiscal Year 2023.
The revenue supports the state's schools, public health, public safety and other state services. The agency said it is the state's fourth-largest source of revenue after income, sales and corporate taxes.
The Lottery made $714 million for the state from $2.7 billion in sales, the agency said, up 3.8% from the last fiscal year. Lotto money goes to the Maryland General Fund, which supplies budgets for a litany of state programs.
Maryland's six casinos raked in $848.1 million for the state from $2 billion in sales, up 2.9% from last year.
Casino revenue supports the Education Trust Fund, small minority-owned businesses, and the jurisdictions the casinos are based. The education fund got $622.7 million, up 1.8% from last year.
Sports wagering and fantasy sports contributions are also directed to education programs, with $25.3 million paid to the Blueprint for Maryland's Future Fund, which supports public education programs.
The commission estimates that when the sports wagering program is fully built out, it will contribute about $30 million a year.
The fiscal year began in July 2022 with five retail sports wagering locations and no mobile wagering, but by the end of the fiscal year there were 10 retail locations and 10 mobile operators. Mobile wagering launched in November 2022.
"The Maryland Lottery launched in 1973 with the mission to generate revenue for the state's good causes," said Maryland Lottery and Gaming Director John Martin. "As we've been celebrating our 50th anniversary this year, we've also been navigating a gaming landscape that is continually evolving, most recently with the addition of sports wagering. But as we adapt to new responsibilities, we're always mindful of that core mission, and we're proud to do our part."
Categoría:Lottery
Tags: Sin tags
País: United States
Región: North America
Event
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