Maryland Lottery acheives record sales for 14th year running
MARYLAND – The Maryland Lottery has another year to celebrate after it once again broke record sales figures. Maryland Lottery generated $1.7billion of sales this fiscal year, breaking last years record.
The Lottery has seen sales grow year on year four the past 14 year. They hope the uptick continues and that lottery sales will continue to grow year after year.
Maryland Lottery also contributed nearly $520 million to the state’s General Fund, an increase of $8.86million on last years contribution.
Lottery Director Stephen Martino said in a press release, ““It’s gratifying to have added yet another year to the record books, especially in light of the challenging economy. However, we are particularly pleased the Lottery has generated more than $519 million to support the good causes of the State of Maryland. Every dollar in revenue from the Maryland Lottery is a dollar less that needs to come from taxes.”
In addition to traditional lottery games, Maryland Lottery regulates the state casinos, generating a great deal of extra revenue for the state.
The cumulative fiscal year gross gaming revenue for Maryland’s two operating casinos, Hollywood Casino Perryville and the Casino at Ocean Downs, totaled $103.054 million with 48.5% ($49.981 million) going to benefit the state’s Education Trust Fund.
source: WGMD.com
Published: August 4, 2011
