Maryland Sees Record High Casino Profits In 2021 Fiscal Year
- Maryland casinos outperformed all previous fiscal years in 2021.
- Profits from Maryland gaming go to the Maryland Education Trust Fund among other great programs.
- Maryland Lottery paid out millions more in prizes to players than in previous years.
ANNAPOLIS, Md. - The casino gaming industry has experienced a record-breaking high in the 2021 fiscal year.
Even while still enduring limited capacity restrictions and other lockdown mandated due to COVID-19, the six operating casinos in Maryland have still managed to break the record.
Casino Contributions
According to a Maryland Lottery report, the combined total contributions resulted in more than $1.391 billion in funding for state programs.
This is over $80 million more than the previous 2019 record.
$531.4 million went to the Maryland Education Trust Fund, $92 million went to local aid based on casino location, $78.8 million went to horse racing, $17 million to Maryland's Small, Minority and Women-owned business fund, and $4.1 million was allocated to responsible gambling programs.
“It’s exciting to set records, but the achievement we’re most proud of is that we remain a vital source of revenue that supports the people of Maryland, our staff is mindful of that goal every day, and we appreciate the hard work on the part of our Lottery retailers and casino partners. It’s truly a team effort," said John Martin, Maryland Lottery and Gaming Director.
The Maryland Lottery
Another report shows The Maryland Lottery also saw a record-breaking fiscal year, generating $667.4 million in state profit.
This is $74.3 million more than the previous record.
The lottery also paid more than $295 million to players in prizes than the previous record, paying out $2.622 billion in the 2021 fiscal year.
As lockdowns continue to loosen, legal casinos will be able to allow far more players in, and 2022 will likely be another record-breaking year for Maryland gaming.