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VLT Numbers Holding Strong
Though Maryland Lottery and Gaming statistics for April reflect a 6.6% decline in total casino revenue from April 2023, as the fiscal year nears an end, the Purse Dedication appears on track to be about even with the previous year’s total.
The PDA, which derives revenue from a 6% share of video lottery terminal revenue from Maryland’s six casinos, at the end of fiscal 2023 (last June) stood at $78.9 million, 80% of which goes to Thoroughbred racing. With two months remaining in fiscal year 2024, the PDA had accumulated $66.3 million and based on monthly totals over the past several months, the account should remain steady.
The overall numbers and 6.6% decline include revenue from table games, in which the PDA does not share. When only VLT proceeds are considered, there has been only a 1.8% reduction from the first 10 months of fiscal year 2023. At the end of April of this year, gross VLT revenue was $1.1 billion for the fiscal period.
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