The impact of the coronavirus on the state lottery and gaming operations was the topic of a virtual hearing Tuesday of the House Ways and Means Committee. Casinos and lottery games are major contributors to state education funding and to local social service programs.
Unsurprisingly, Medenica said, with casinos shuttered from mid-March to mid- or late June, those revenues are way down.
Ordinarily, Medenica said, casinos generate about $60 million a month for the state. But that figure stood below $30 million for March, was zero for April and May, and came in at about $13 million for June. Industry leaders are looking eagerly to Aug. 5, when the revenue figures for July will be released.
Most of Maryland’s casinos are operating at roughly half capacity now, Medenica and managers of the six properties said in their testimony — though traffic and revenues appear to be coming in at roughly 70%. Even so, Medenica told lawmakers, “I think we have to expect a long-term lowering of our expected casino operation revenues.”
Click here to read the rest of the article written by Josh Kurtz over at Maryland Matters
