Closed Casinos Mean $60M Hit to Maryland Budget in April

Maryland's Education Trust Fund alone lost out on more than $45 million

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Maryland has missed out on more than $60 million in state revenue from the state’s casinos being closed last month due to the coronavirus, when compared to how much the state generated last April.

The state lottery said in a news release Tuesday the state's six casinos generated no revenue in April. In April 2019, total revenue was about $145.2 million. Contributions to the state in that month were about $60.2 million. That includes $45.2 million set aside for the state’s Education Trust Fund. Casino revenues also support jurisdictions where the casinos are located and Maryland’s horse racing industry.

The casinos were closed March 16.

“These are truly unprecedented times,” said Maryland Lottery and Gaming Director Gordon Medenica. “The casinos generate vital revenue for the state, but we remain focused on the health and safety of the casinos’ patrons and employees as we plan for reopening.”

Medenica said the casinos are working hard on preparations for reopening when restrictions are lifted.

“One advantage is that they already have extensive surveillance and security measures in place, which gives them unique capabilities for monitoring their patrons’ adherence to social distancing and other safety protocols,” Medenica said in a news release.

Copyright AP - Associated Press
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