Maryland lottery, casinos generated record-breaking $1.5B in 2022
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The new state record beat the revenue for the last fiscal year by $120 million, the lottery said.
BALTIMORE — Editor's Note: The video attached to this article is from a separate story that aired in February 2022.
Maryland Lottery and Gaming raised a record $1.5 billion in contributions for the state through the lottery, casino gaming, sports wagering, and fantasy competitions in its fiscal year.
The new state record beat the revenue for the last fiscal year by $120 million, the lottery said. Maryland's fiscal year runs from July 1 through June 30.
The lottery and casinos each contributed more than ever before to the state. Lottery profits totaled $673.7 million and casinos contributed $832.3 million. Another $5.6 million was added to the record-breaking sum from sports wagering and revenue from fantasy competitions.
"We are immensely proud to be a vital source of funding for programs and services that Marylanders depend on every day," Maryland Lottery and Gaming Director John Martin said. "We're in the entertainment business, but we never lose sight of the role we play and our place in the community."
Maryland's six casinos raked in $832.3 million for the state, beating the previous year's record-setting total by $108.9 million. The amount contributed to the Education Trust Fund was an all-time record of $611.6 million, an increase of nearly $69 million compared to the previous record set in the fiscal year 2019.
Total gaming revenue at the casinos was $2.002 billion, an increase of $242 million from the previous record set in 2019.
"As we continue to generate revenue each year, we remain vigilant about the importance of encouraging people to play responsibly," Martin said.
Maryland Lottery and Gaming is Maryland's fourth-largest source of revenue after income, sales, and corporate taxes. Lottery tickets profits go to Maryland General Fund, which pays for supplies budgets for schools, public health, safety services, and environmental programs.
Some casino revenue is allocated to communities where casinos are wanted; Maryland's horse racing industry, and small minority- and women-owned businesses. The casinos contribute funds that enable the state to offer cost-free problem gambling treatment and services. Sports wagering and fantasy competition contributions are directed to education programs.
The launch of sports betting and revenue from fantasy competitions raised another $5.6 million. Maryland's first five retail sportsbooks opened in December 2021. The Blueprint for Maryland's Future Fund, which supports public schools, received a total of $3 million from the $174.8 million in wagers that were placed in the fiscal year 2022.
Additional retail sportsbooks and online sportsbooks are expected to open during the current fiscal year. It is estimated that when the sports wagering program is fully built out, it will contribute roughly $30 million per year to education funding.
