Maryland’s casinos are back in business as May revenue sets a record
By Bob Garcia
Maryland’s casinos have achieved two new revenue records twice this year
The month of May has just ended and, according to reports from the casinos in Maryland, their monthly revenues are still at record highs for the second time in three months. The casinos in this area were also hit hard financially after the arrival of COVID-19 more than a year ago; however, they are beginning to see a recovery that has all operators breathing a small sigh of relief.
According to a report released by the Maryland Lottery yesterday, the six casinos combined were able to generate a total of $172.4 million in May. The state has clearly also benefited greatly from the increase in revenue, as it reportedly received a total of $73.4 million as part of the respective contributions from all of the casinos. This is a great comparison to the $63.7 million contributed to the state in the same period of 2019. Contributions to Maryland’s Education Trust Fund in May were $53.3 million, up $5.5 million from the same period two years ago. These proceeds generally support communities and small businesses near the casinos, an initiative that appears to be quite charitable.
As time has passed and the vaccination process has advanced tremendously, more sanitary measures have been eliminated by the leaders of various states. This has caused more people to be able to leave their homes more freely and thus go and have a good time in the casinos. In the case of Maryland’s casinos, they were forced to close from March 16 to June 19 of last year.
This undoubtedly caused many financial losses since their essential operations could not be provided to the public. However, the winds now seem to be blowing in a different direction both for casinos in the Old Line State and for casinos across the country.