This week Maryland's Lottery and Gaming Control Agency revealed that the state's gaming industry generated a record-setting $1.5 billion in tax revenue for the fiscal year running July 1st, 2021 to June 30th, 2022.
The previous record was set the year prior, when tax revenues were $1.39 billion. The numbers were generated by tax contributions from the Maryland Lottery, casinos, sportsbooks, and daily fantasy sports operators. The Lottery generated $673.7 million in tax revenue, while casinos and books brought in $832.3 million.
Maryland's lottery ticket tax revenues go to the state's General Fund, which in-turn supplies funding for schools, public health, and environmental services. Casino revenues go exclusively into the Education Trust Fund.
The numbers will likely continue to go up, at least in the short-term, as the state is working on implementing its regulated online sportsbetting industry. That vertical has been slow getting off of the ground though, leading to frustration from gamblers and the state's governor alike.
Regarding the results MLGCA Director John Martin said, "We are immensely proud to be a vital source of funding for programs and services that Marylanders depend on every day.
"We're in the entertainment business, but we never lose sight of the role we play and our place in the community."