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Thank You Brian Hughes of The Washington Examiner – You Proved My Point Correct On Maryland Gambling Revenues – Gambling doesn’t bring in projected windfalls in many states

Gambling doesn’t bring in projected windfalls in many states

Maryland Gov. Martin O’Malley is banking that a Prince George’s County casino and blackjack throughout the state will lead to massive gambling windfalls that will plug soaring budget gaps. But that’s hardly a safe bet, according to analysts who reviewed similar gambling initiatives across the nation.

“There’s no doubt Maryland will generate additional revenue in the short-term, but it’s likely not sustainable over time,” said Lucy Dadayan, a senior policy analyst at the Nelson A. Rockefeller Institute who studies state gambling returns. “The pool of gamblers really doesn’t expand. It just shifts.”

Source: Maryland Lottery

Maryland gambling returns
Gambling source Fiscal 2012 Fiscal 2011 Change
Traditional lottery $1.795 billion ($556 million contributed to state) $1.714 billion ($519 million contributed to state) $.081 billion ($37 million contributed to state)
Hollywood Casino Perryville $118.08 million $82.6 million $35.48 million
Casino at Ocean Downs $47.95 million $20.4 million $27.55 million
Maryland Live Casino $28.48 million N/A N/A
Total casino revenue $194.5 million ($94.3 million contributed to state) $103.05 million ($50 million contributed to state) $91.45 million ($44.3 million contributed to state)

O’Malley has called an Aug. 9 special session for the General Assembly, with hopes of bringing the state’s sixth casino to National Harbor and incorporating table games such as blackjack, roulette and poker at each of the gambling facilities. Supporters say the arrangement would spark a gambling renaissance across the Mid-Atlantic, filling a major void in the market for those who would rather not travel to marquee destinations like Las Vegas or Atlantic City, N.J., to place a wager.

http://washingtonexaminer.com/casino-push-comes-with-budget-risks/article/2503385?utm_source=Local%20News%20(July%2029%202012%20RESEND)%20-%2007/29/2012&utm_medium=email&utm_campaign=Washington%20Examiner:%20Local%20News

1 comment to Thank You Brian Hughes of The Washington Examiner – You Proved My Point Correct On Maryland Gambling Revenues – Gambling doesn’t bring in projected windfalls in many states

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