Big Boom At Maryland Live! Casino Means Good News For Taxpayers
HANOVER, Md. (WJZ) -- There's news that Maryland's largest casino is generating even more cash. For the first time, it's bringing in the highest slots revenue of any casino in the Mid-Atlantic.
Kai Jackson explains why that's good news for Maryland taxpayers.
As Maryland Live! operators tally millions in profits, state lawmakers are adding up the revenue that slots have generated.
The ring of slot machines is adding up at Maryland Live! at Arundel Mills.
The casino says, for the month of March, the so-called "one armed bandits" brought in bank-loads of money--more than one of the biggest casinos in Atlantic City.
"We did 45 percent more slot revenue than Borgata, which has been one of the top producing facilities on the East Coast," said Joe Weinberg, Cordish Company.
Maryland Live! says for the month of March alone, the casino made more than $44 million from slots. And 49 percent of that--or $21 million--will go to the state's Education Trust Fund.
"That money will stay here in Maryland to help education, hopefully," said Raymond English, Pikesville.
As the casino looks for more profits, the state looks for additional revenue and the citizens of Maryland look for money to go to the state's education fund.
Maryland Live! has 4,337 slot machines in operation, and just last week, opened table games. The gaming center boasts top restaurants and live entertainment. It's one of the biggest commercial casinos in the country.
All the stakeholders are banking on big bucks from sustained gambling.
"To see the money going back to our state, to our schools, is really tremendous gratification that we get," said Weinberg.
Maryland Live! operators say the casino also means jobs. Some 2,500 permanent employees have been hired.
The state of Maryland receives an average of $1 million a day in taxes from Maryland Live! Casino.
