State programs in Maryland are in for a big payday as the most recent fiscal year draws to a close thanks to its peers in the gaming industry. Per a recent report, Maryland Lottery and Gaming has announced a contribution of $1.585 billion to state programs and services in Fiscal Year 2024, marking the second-largest annual transfer to the state. The contributions from casino gaming reached $824 million, while Lottery profits accounted for $699.6 million. Sports wagering and daily fantasy sports operators combined contributed $61.3 million. Together, these activities generated an average of $4.3 million per day for Maryland’s good causes throughout the fiscal year, which ran from July 1, 2023, to June 30, 2024.
In this report, SBS will be going over what to look for from the latest gaming news and notes coming from the Old Line State along with more notes and info about the area.
Noted in the same article, Maryland Lottery and Gaming Director John Martin remarked on the performance, highlighting the challenges of matching the previous year’s record $1.589 billion transfer. “We had another strong year on a number of fronts. The Lottery added a new daily game, and the sports wagering market continued to expand. We’re proud of our role in generating funds for important state programs,” Martin said.
Noted in another report, in July 2024, it was a different story for Maryland casinos. Recently, the Maryland State Lottery and Gaming Control Agency published its casino revenue report for July 2024. The state’s six land-based casinos collected $169.8 million in revenue, representing a 2.6% decrease from last year’s $174.3 million. At the same time, revenue was up around 4.2% month-on-month, compared with the $162.9 million generated in June. Almost $116.5 million of July’s revenue came from video lottery terminals (VLTs), and the remaining $53.4 million was generated by table games. While July marks the beginning of FY 2025, the figures have brought the calendar year total above $1.0 billion.
Per one report, while Maryland does not yet have real money online casinos, its six brick-and-mortar casinos reported a year-on-year decrease in revenue. MGM National Harbor took the top spot with nearly $72.0 million in revenue, presenting the smallest drop of just 0.2% from last July. Live! Casino & Hotel came in second place with $62.6 million in revenue, down 0.3%. In third place, Horseshoe Casino saw the largest year-on-year decrease of 16.9%, collecting $13.3 million. Ocean Downs Casino reported $9.6 million in revenue, down 4.^% year-on-year. Finally, Hollywood Casino followed with $7.3 million, a 2.8% decrease, with Rocky Gap Casino coming in last with $5.0 million in revenue, down 13.4% year-on-year.
Per the same article, in Fiscal Year 2024, which concluded at the end of June, Maryland’s casinos claimed 57.5% of total revenue. Meanwhile, 30.5% was allocated to the Maryland Education Trust Fund, which aims to enhance the quality of public education across the state. Casino revenues also support local community initiatives, Maryland’s horse racing industry, small businesses, and responsible gaming initiatives. For July 2024, nearly $72.2 million of the total casino revenue was allocated to the state, with $52.0 million going specifically to the Education Trust Fund. Both figures represent a 1.4% decrease compared to July 2023.
The MLGCA also released the Maryland sports betting figures for July, revealing a contrasting 34.7% year-on-year increase in the handle to nearly $333.3 million. Mobile sports betting generated over $324.9 million, with DraftKings alone contributing more than $106.5 million. Retail sportsbooks accounted for the remaining $8.4 million in handle. July’s sports betting figures resulted in a $6.3 million contribution to the state.
For context, the report also provides an abridged history of gambling in Maryland. Since the launch of casino gaming in Maryland in 2010, the industry has generated over $18.0 billion in revenue. Hollywood Casino Perryville was the first casino to open in the state in September 2010, while MGM National Harbor was the most recent, opening in December 2016. Legal sports betting in the Old Line State launched in December 2021 after Governor Larry Hogan signed HB940 earlier that year. Since its inception, the industry has contributed over $94.7 million to the Blueprint for Maryland’s Future Fund and nearly $3.3 million to the Maryland Problem Gaming Fund.
After you are all dialed in regarding the latest gaming news and notes coming from the Old Line State, make sure to check out and peruse the variety of information available to you at SBS. Of course, for even more insights on the topic covered here make sure to check out the Maryland sports betting guide which goes over a wide variety of info relating to Old Line State gaming notes. Conversely, for anyone who would like to maximize their wagers (and who doesn’t, you should also bookmark the best bonus betting sites breakdown. Here you can find a catalog of the latest and greatest welcome bonus offers to keep you rolling along with tips for getting the most out of promotions. Finally, for those on the go, look no further than the best betting apps rundown which covers the perks of mobile betting.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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