Casino revenue across the state declined by more than 27% over the previous fiscal year as coronavirus pummeled the region and forced gambling establishments to close their doors.
State gaming and lottery officials on Monday released the latest revenue report that sheds light on how Maryland’s six casinos have fared after closing for more than three months and only recently reopening.
Casinos generated $529 million for the state during the last fiscal year, a $194.3 million drop compared to the previous year. Maryland’s share of casino money is important to the state’s budget, subsidizing an education trust fund as well as horse racing and grant funds for the communities around the casinos.
Gov. Larry Hogan allowed casinos to reopen at 50% capacity starting June 19, though some, like Baltimore’s Horseshoe Casino, waited longer. Casino revenue from June totaled $34.9 million, down more than 75% compared to the same month last year when the industry raked in more than $142.8 million.
Maryland Live Casino & Hotel reopened on June 19 to its members and to the public 10 days later, bringing in nearly half the state’s monthly total with almost $15.9 million. Meanwhile, Horseshoe Casino which reopened to members on June 26 and the public two days later, reported $2.6 million in June.
The state’s casinos generated more than $150 million in revenue in February, their last full month of operations.