Maryland could lose nearly $250 M in gaming revenue due to shutdown

A Maryland official said the state could lose nearly $250 million in revenue from casinos and lottery games because of the coronavirus pandemic.

The announcement was made Thursday during the state’s Lottery and Gaming Commission’s virtual meeting, The Baltimore Sun reported. The multi-million dollar figure is what Maryland can expect to lose if the state’s six casinos, which were ordered closed March 16, remain shut until the end of June, Lottery and Gaming Control Director Gordon Medenica said.

“We’ve been working on procedures for casinos to reopen,” said Medenica. Although a date on opening up the facilities was not determined, Medenica said the state and the casinos are “dealing with a number of issues on social distancing and testing,” so they can reopen the businesses. The casinos had originally sought to reduce the amount of people on their floors by 50% before they were ordered to close. So far, Medenica said the state’s casino revenue has been down nearly $66 million.

The revenue accounts for nearly $717.5 million of the $1.3 billion Maryland collects from gaming, according to the state. That money provides grants for communities around the casinos and supports the state’s education trust fund.

Maryland six casinos are MGM National Harbor in Oxon Hill, Live Casino & Hotel in Hanover, Horseshoe Casino Baltimore, Hollywood Casino in Perryville, Rocky Gap in Cumberland and Ocean Downs near Ocean City.

Venue closures because of the virus outbreak have also affected the state’s revenue from lottery games, which are down $20 million compared to the same period last year, and could end up being $50 million short of forecasts when the fiscal year ends, Medenica said.