MD casinos, Purse Dedication Account have solid October

Maryland’s six casinos, operating at 50% capacity because of COVID-19 restrictions, generated $142.6 million in revenue in October, down only 0.9% from the same month a year ago, according to Maryland Lottery and Gaming.

The Purse Dedication Account—it earns 6% of video lottery terminal revenue at MGM National Harbor, Live! Casino & Hotel, Horseshoe Casino Baltimore, Hollywood Casino Perryville and Ocean Downs Casino, and 2.5% at Rocky Gap Casino is & Resort—collected $5.56 million ($4.45 million for Thoroughbred racing) in October. This is actually a 2.97% increase from revenue received in 2019. 

The Racetrack Facility Renewal Account, which funds capital improvements, produced by $908,000 from its 1% VLT share.

The October PDA number is up slightly from the September figure of $5.49 million and the $5.40 million recorded in October 2019.

Through the first 10 months of 2020, the PDA has accrued $37.11 million ($29.69 million for Thoroughbred racing). For the same period in 2019, the PDA totaled $55.67 million ($44.53 million for Thoroughbred racing). The 33.3% reduction is attributed to the three-month shutdown of the casinos, which given historical statistics would have generated about $17 million for the PDA during that period.

Four casinos registered gains in revenue in October: Live! (4.1%), Hollywood Casino (19.9%), Ocean Downs (4.2%), and Rocky Gap (10.2%).

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