🎰 Maryland takes $60 million revenue hit from closed casinos in April - Baltimore Sun

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A state commission awarded Maryland's sixth and final casino license Friday to MGM Resorts International, which plans to build a $ million.


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A $10, application fee is due at the time the initial license application is submitted. In addition, a licensing fee of between $1, and $25,, depending on.


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Maryland Lottery and Gaming Control Agency (MLGCA) provides non-gaming related goods or services to a licensed casino or to a casino license applicant.


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The Maryland Lottery and Gaming Control Agency's core mission is to generate data on Maryland's casinos; information on licensing for casino employees.


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MGM, which is planning an $ million casino resort in Springfield, on Friday was selected by Maryland gaming officials to construct a $


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Capital News Service photo by Steven Ruiz.{/INSERTKEYS}{/PARAGRAPH} And it allowed the companies to keep 80 percent of the table game proceeds -- while also reducing the share of slots money that goes to the education fund. The amount of revenue going to casino operators each month of fiscal year has surpassed the amount going to the Education Trust Fund. Before even one of the original five casinos had opened, Maryland lawmakers began weighing the question of expanding casino gambling. James Brochin, D-Baltimore County, in a recent interview said he supported legalization in but voted against the expansion bill because he thought the state was giving far too much away to the casinos as part of the compromise. In other words, they have used it to free up general fund money for other purposes. But lawmakers have used that money to replace rather than increase general fund revenues normally spent on schools. Casino companies would get to keep 80 percent of table game revenue and give 20 percent to the Education Trust Fund. Ehrlich Jr. For Maryland schools, the argument over how much should go to casinos versus the education fund has been strictly academic so far. And while expansion of gambling has raised more money overall both for casinos and the education fund, the money in the Education Trust Fund has replaced -- not added to -- general fund revenues normally spent on schools. Not long after, the state panel charged with awarding the casino licenses recommended that lawmakers consider allowing table games to help Maryland compete with gambling in surrounding states. Pennsylvania, Delaware and West Virginia had all moved to allow table games after Maryland passed its slots-only measure in But lawmakers met with fierce resistance from some of the companies holding Maryland casino licences, especially the Cordish Cos. The plan to legalize slots had come from an unlikely source. Maryland Lottery and Gaming Control Agency officials say that granting casino companies a bigger share of the revenue from table games makes sense because those games cost more to operate than slot machines, with additional expenses including pay for dealers. He also increased the number of slot machines in his proposal to 15, from 9,, appeasing slots supporters not thrilled about the added step of a referendum. In fact, casino revenues have soared since table games debuted in Maryland last spring, sending more total dollars to the state as a result. Maryland would keep about 67 percent of the revenue from slots, with most -- roughly half of all casino revenue -- going to an Education Trust Fund dedicated to schools. Busch all declined to comment on the Capital News Service findings, according to their spokespersons. The legislation allowed all casinos to add lucrative table games, such as poker, craps and roulette. Copyright Capital News Service The Maryland Live! As a result, the casino industry has pushed ahead of the education fund as the biggest beneficiary of state-sponsored gambling in Maryland. On Nov. It represents a collaboration between students working for the college's non-profit news organization, Capital News Service, and students in three advanced reporting capstone classes: Baltimore Urban Affairs Reporting, Investigative Reporting and Advanced Video Storytelling. After contentious debate, the deal that emerged from Annapolis was one that taxed casinos at among the highest rates of any state in the nation. Neither the nor legislation specified that the state should spend more on education with the gambling revenue. {PARAGRAPH}{INSERTKEYS}But the measure, approved by voters that fall, has actually worked to send more money to the casino companies this fiscal year than to the education fund that was established when the state first legalized casino gambling in The casino companies generally kept no more than 33 percent. Additionally, a lower tax rate allows casinos to invest more in marketing and promotional programs that bring in more customers and more money, said Will Cummings, of Cummings Associates, which did a study for the state gambling agency. Comptroller Peter Franchot made a prediction in , with the question of legalizing casino gambling before Maryland voters:. But he had to win over lawmakers who blocked attempts to legalize casino gambling under former Gov. The General Assembly passed the measure, sending it to a referendum as required by the slots law. Casino in Anne Arundel County. Company representatives complained that the proposed sixth casino would be an unexpected, and unwelcome, source of competition that would diminish its customer base and hurt its bottom line. The casinos also received breaks for taking over ownership of the slot machines from the state. For the first time since Maryland legalized casinos, the casino companies are on track to take in more money this fiscal year than the Education Trust Fund. Still, education advocates have a list of things the extra money could be used for, from expanding access to high-quality pre-K to improving mental health services at schools. Robert L.