Maryland Lottery gives $545.2 million in revenue to state
The Maryland Lottery and casinos have generated more than $929.74 million for the state in yearly revenue for the past fiscal year.
The Maryland Lottery Commission is also in control of Maryland casinos. In the past, the two have seen a lot of competition. The Lottery fears casinos will take away from their much-needed revenue, and casinos feared people would be wary of their operations. However, both casinos and lotteries have been able to provide the state with great entertainment and games. Most recently, Maryland casinos planned to open a 2-story poker room at their Maryland Live casino.
This year, the Maryland Lottery Commission, which includes casinos, gave a total $929,74 to the state during the past fiscal year. Traditional lottery sales saw a decrease in the past year, with their total sales falling 2.2% below last year’s numbers. However, gaming officials expected this drop to occur due to rising popularity of casinos.
The Maryland Lottery transferred a total $545.2 million to its beneficiaries. These funds will help the state General Fund for use throughout the coming year. This transfer was only $200,000 shy of estimates made by the Board of Revenue last year.
The Maryland Lottery is working to increase revenue from lottery games. Just recently, the Maryland Lottery introduced a VIP club to their website, My Lottery. This allows players to stay connected with their favorite lottery games.