English French German Italian Portuguese Russian Spanish

Maryland Lottery, casinos, sports betting contribute $1.5 billion to State in FY2023

MARYLAND (WBFF) — The Maryland Lottery and Gaming Control Agency helped to generate $1.589 billion in contributions to the state during Fiscal Year 2023.

From July 1, 2022 through June 30, 2023, the combined contribution to the state included $848.1 million from casinos; $714.3 million from the Lottery; $25.3 million from sports wagering; and an additional $1.2 million from daily fantasy sports.

Maryland Lottery and Gaming is the state’s fourth-largest source of revenue after income, sales and corporate taxes.

“The Maryland Lottery launched in 1973 with the mission to generate revenue for the state’s good causes,” said Maryland Lottery and Gaming Director John Martin. “As we’ve been celebrating our 50th anniversary this year, we’ve also been navigating a gaming landscape that is continually evolving, most recently with the addition of sports wagering. But as we adapt to new responsibilities, we’re always mindful of that core mission, and we’re proud to do our part.”

The Lottery delivered the following performances in FY2023:

  • Sales of $2.764 billion, up 3.8% from FY2022.
  • Profit returned to the state of $714.3 million, up 6% from FY2022.
  • Prizes to players of $1.733 billion, an increase of 2.2% from FY2022; the Lottery paid an average of $4.7 million per day in prizes.
  • Retailer sales and cashing commissions of $219.9 million, up 8.3% from FY2022; the average retailer commission was $50,000.

Lottery profits contribute to the Maryland General Fund, which provides budgets for a wide range of vital state programs including schools, public health and safety services and environmental initiatives.

The state’s six casinos generated the following figures in FY23:

  • Revenue from slot machines and table games of $2.060 billion, up 2.9% from FY2022.
  • Contributions to the state of $848.1 million, up 1.9% from FY2022.
  • The contributions to the state included $622.7 million to the Education Trust Fund, up 1.8% from FY2022.
  • Local aid paid to the jurisdictions and communities where the casinos are located of $108.9 million, up 3% from FY2022.
  • Casino gaming revenue also contributed $92.1 million to Maryland’s horse racing industry and $19.9 million to a state fund for small, minority and women-owned businesses.
  • Casinos pay annual assessments of $425 per slot machine and $500 per table game to the Problem Gambling Fund. In FY2023, these assessments totaled nearly $4.5 million.

Maryland’s sports wagering market expanded during FY2023, as mobile wagering launched on Nov. 23, 2022.


Source: WBFF Digital Team 

Preview Image: Shutterstock