“We had a record-setting Fiscal Year 2022, and we’ll be announcing those figures soon,” said Maryland Lottery and Gaming Director John Martin.<\/p>\n
\nBut for now, we congratulate our casino partners on a great first month of Fiscal Year 2023,”<\/strong> Martin declared. “The casinos are continuing to expand their entertainment options as they rebound strongly from the pandemic, and their success translates into funding for schools, communities, and businesses.”<\/strong><\/p>\n<\/blockquote>\nMaryland primarily uses its casino tax revenue to support public education. In July, the casinos paid more than $76 million in taxes, with about $55.3 million allocated to the state Education Trust Fund (ETF).<\/p>\n
While July GGR was an all-time high, it didn’t equate to record tax generation. That’s because slot win slightly declined, while table game win greatly increased. Maryland taxes slots significantly higher than tables.<\/p>\n
Each table game’s revenue is subject to a flat 20% tax. GGR from slot machines is taxed between 40% to 61% depending on the specific casino.<\/p>\n
Online Sports Betting Coming Soon<\/b><\/h2>\n
Maryland gaming regulators are scurrying to get online sports betting up and running in time for the start of the NFL regular season next month. Gov. Larry Hogan (R) in June called on the state’s Sports Wagering Application Review Commission (SWAR) to expedite its regulatory process. That’s in order to allow at least the state’s casinos, which are already facilitating in-person sports wagering, to take bets online.<\/p>\n
SWARC responded last month by announcing that it would begin issuing online sportsbook concessions while its “disparity analysis” is ongoing. The committee says the casinos seeking online sports gambling rights will be provided such privileges once its staff reworks the regulations to exclude race and gender from SWARC’s licensing criteria.<\/p>\n","protected":false},"excerpt":{"rendered":"
Maryland casinos continue to defy dire economic circumstances, experiencing robust play on their gaming floors. In July, gross gaming revenue (GGR) from the six commercial properties totaled a little more than $181.5 million. That’s, the best monthly mark in the state gaming industry’s history. Marylanders legalized five casinos with slot machines through a 2008 statewide […]<\/p>\n","protected":false},"author":25,"featured_media":225335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,1074],"tags":[82124,82180],"acf":[],"yoast_head":"\n
Maryland Casinos Experience Best Month Ever in July, GGR Tops $181M<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n