Casino Shutdown Costs Maryland $60 Million in April

Casino Shutdown Costs Maryland $60 Million in April

April 2019 was a great month for Maryland casinos as they earned $145.23 million. However, April 2020 was a disappointment as they earned nothing during the month. The COVID-19 pandemic kept all six gaming properties of the state closed during the month.

Unprecedented economic damage

Last year, casinos in the state earned $145 million in April of which $60.23 million went to the state. About $45 million of this fund was directed to the Education Trust Fund. The remaining funds are used for responsible gaming programs, horse racing, local aid, and other operating expenses of the Maryland Lottery and Gaming Control Agency (MLGCA).

Casino Shutdown Costs Maryland $60 Million in April

MLGCA director Gordon Medenica commented,

“These are truly unprecedented times. The casinos generate vital revenue for the state, but we remain focused on the health and safety of the casinos’ patrons and employees as we plan for reopening.”

A majority of the state’s gambling revenue comes from its three largest casinos- MGM National Harbor, Horseshoe Baltimore, and Live! Casino Hotel. It has three other smaller gaming venues- Rocky Gap Casino Resort, Hollywood Casino, and Ocean Downs Casino.

Eyeing safe reopening

Medenica says that the agency is working with all six properties so that they can reopen their businesses as soon as possible. The state is following Gov. Larry Hogan’s stay-at-home orders since March 22. Earlier this week, Hogan said that he has been a lifelong small businessman and he intends to bring the economy back to normal as soon as possible. However, he said that the state’s COVID-19 infection numbers should first hit a plateau and then start declining before recovery is in sight. Whenever it happens, the government will follow a safe and slow approach to reopening businesses.

Maryland has recorded 28,163 coronavirus cases to date with 1,338 deaths. In the last 24 hours, it reported 1,000 new cases and 48 deaths.

Medenica says that casinos are already working hard on their reopening. Their biggest advantage is that they already have security measures and extensive surveillance in place which allows them to monitor if their patrons are adhering to social distancing protocols. Hogan’s orders for shutting down nonessential businesses are indefinite and it isn’t clear when the state will allow its casinos to open their gaming floors again.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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