Casino Gambling Web, Ltd.
Play Free Casino Games Now!
The Top Online Casino Gambling News Reporting Site Since 2002!

Maryland Students Receives Millions From Casinos In November

When the gambling issue comes up across the US, anti-gaming legislators often point to the negative effects the gaming could have on the youth. The fear of students getting wrapped up in a gambling addiction is one that overpowers the thought of the good that a casino could do for an area.

This week, Maryland showed again the positive benefits a casino could have. The state's Education Trust Fund received a payment of over $6 million in November from the two casinos in the state. The Trust Fund has been the recipient of millions of dollars since the casinos began operation last year.

Maryland was one of the states that expanded into the gaming industry after the 2008 economic recession. The fear of losing important education funding drove lawmakers to enact legislation allowing casino gambling, and the payoff continues to be seen on a monthly basis. In November, Maryland's two casinos brought in $12.2 million in revenue. That figure was down from the previous month when the casinos won $12.9 million.

Hollywood Casino Perryville brought in the large majority of the revenue, totaling $9.1 million in November. The Casino at Ocean Downs brought in an additional $3.1 million in November. The Worcester County casino has only been open since January, and has been growing in popularity.

The deal Maryland lawmakers agreed to is a good one of the state. The casinos keep one-third of the revenue generated, and the remaining two-thirds is split among different state agencies. The Maryland Lottery, which brings hundreds of millions of dollars into the state itself, receives a portion of the funds, as does several local governments.

Maryland was one of the states that led the way into the gaming industry after the recession. With Pennsylvania becoming the premiere casino destination over the past year, Maryland has slowly started to cut into the revenue at New Jersey and Connecticut casinos as well.

Hollywood Casino Perryville has seen its revenue increase drastically in just one year. In November of 2010, the casino won $7.6 million from gamblers. In the same period this year, revenue jumped almost twenty percent, to the aforementioned $9.1 million.

The casino expansion has not only been limited to the Northeast. Illinois, West Virginia, Florida, California, and Colorado have all increased their gaming options since the recession. Florida lawmakers are discussing a plan that would bring Vegas-style gaming to the Sunshine State. If that expansion occurred, analysts believe that Florida would become one of the premiere gaming destinations in the US.

Terms & Conditions | Gambling Problems | © 2002 - 2020 Casino Gambling Web, Ltd.