Maryland LIve! Casino Pays $23.7 Million in Gaming Taxes to State

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Courtesy Citybizlist – Maryland Live! Casino reported paying more than$23.7 million in gaming taxes to the State of Maryland after its first full month of operation. July 2012 taxes were based on the State’s 67% portion of $35,408,769.62 in gaming revenue generated by the facility, a win per machine per day of approximately $351.54.

Maryland Live! Casino also paid out more than $195.6 million to casino customers through the month, including $8.7 million in jackpots of $1,200 or higher.

“Our revenues continue to be in line with our projections,” said Joe Weinberg, Managing Partner, The Cordish Companies. “Of great significance, the State’s overall July casino revenues clearly demonstrate oversaturation is already a serious problem for Maryland. Even with Maryland Live! only partially open andBaltimore City not open at all, July revenues at Hollywood Casino Perryville were down 32.4% as a result of competition from Maryland Live! and the Perryville facility is located over 50 miles from Maryland Live!”

Read more at Citybizlist

 



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