Reports
US MARKET: MARYLAND
Maryland offers safe harbour for casinos
Casinos began to open in Maryland back in 2010. The Maryland Lottery and Gaming Control Board (MLGCA) is the fourth largest contributor to the state and was established in 1972 covering the lottery and gaming sectors and operations began in 1973.
Te idea behind the law was to establish a state operated lottery. In 2008 a referendum approved legislation for up to 15,000 VLTs to be installed at the five privately owned casinos whilst in 2012 a bill was passed to permit a sixth casino in Prince George’s County. In addition the number of VLTs permitted was increased to 16,500, table games were permitted plus 24/7 casino operations.
According to reports by the MLGCA Maryland’s economic growth between 2012 and 2016 had been ‘tepid’ although 2016 saw an expansion and growth in employment whilst real estate and construction also began to boom and house prices increased by 3.4 per cent.
Since gaming began video lottery gross terminal revenues generated by the casinos have topped
P42 NEWSWIRE / INTERACTIVE /
247.COM
$2.8bn whilst table games have topped $1.1bn since 2013. Net lottery sales in 2016 were $1.91bn up 8.22 per cent on 2015 figures.
In 2015 17 of the 24 US states with commercial gaming reported increases in total annual gross gaming revenues. Te largest increase was Maryland with 18 per cent rise from $931.08m in 2014 to $1.098bn in 2015 which is partly due to the first full year of operations for the Horseshoe Baltimore casino in 2015.
In 2016 the Maryland casinos saw total revenues of $1.14bn of which $741.7m came from the 8,409 VLTs located in the casinos (up $59.9m on 2015 figures) and $402.3m came from the 424 table games (up $45.9m from 2015).
Casinos in Maryland pay one of the highest tax
rates in any state. Te VLT tax rate is 50-61 per cent depending on the casino property and table tax is 20 per cent.
Tere are currently six landbased and racetrack casinos in Maryland. Te first opened back in 2010 following the passing of legislation in 2008.
Te casinos are: Hollywood Casino, Perryville is a Las Vegas style casino and was Maryland’s first casino which opened in September 2010 and added table games in March 2013. Te casino currently has 850 slots and 22 tables and is a short drive from Pennsylvania and most of Delaware. It is operated by Gaming and Leisure Properties which has 38 gaming related facilities in 14 US states.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92
