Record gaming revenue in May fuels Purse Dedication Account

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Published: Tuesday, 08 June 2021 19:44

Maryland’s six casinos set a single-month gaming revenue record of $172.39 million in May, the second time in three months a record has been set, and the number is reflected in a strong figure for the Purse Dedication Account that is funded by revenue from video lottery terminals.

The previous single-month revenue record of $169.17 million was set in March 2021, according to Maryland Lottery and Gaming statistics.

The PDA, 80% of which is dedicated to Thoroughbred racing, collected $6.90 million in May, up from $6.64 million in April and $6.58 million in March. The Thoroughbred share in May was $5.52 million, and thus far for calendar year 2021, $24.08 million has been generated for Thoroughbred racing.

The PDA is supported by a 6% cut of VLT revenue at five casinos and 2.5% at the sixth, Rocky Gap Casino and Resort. Under legislation passed in April, the Rocky Gap contribution will increase to 6% this summer; the increase is estimated to produce an additional $3 million for the PDA.

The Racetrack Facilities Renewal Account, which pays for capital improvements at racetracks and is a key part of the Racing and Community Development Act of 2020, collected $1.12 million in May.

Maryland casinos were shuttered in May 2020 because of the COVID-19 shutdown. The casino gaming contributions to the state in May of this year totaled $73.35 million, up 15.2% from $63.65 million in May 2019 were all casinos were fully operational.