Total handle, VLT revenue for purses increase again in Maryland

Posted : Jan. 7, 2018
Racing days aren ’ t the lone thing that increased in Maryland in 2016 .
The Maryland Jockey Club reported a 12 % increase in sum pari-mutuel wield on its alive racing product, while Maryland Lottery statistics show a 14.3 % jump in casino television lottery concluding tax income that went to the Purse Dedication Account .
Wagering on live races at Laurel Park and Pimlico Race Course and harness race at Rosecroft Raceway totaled $ 627.3 million, up from $ 560.1 million in 2016, the MJC reported. MJC President Sal Sinatra noted that manage on Laurel races alone was roughly $ 500 million, up from about $ 325 million in 2014.

Sinatra said handle per subspecies at Laurel was polish a bit given the passing of multiple days of turf rush, which by and large generates more bet .
The MJC said average daily handle on live rush was $ 3.3 million, up from $ 3 million the previous year .
“ We ’ ve scheduled nine more ( Thoroughbred ) racing days ( in 2018 ), and it will be the second base class of condensing our stakes on specific days, so we expect to have a potent year, ” Sinatra said. “ We ’ re hop to help Maryland trainers. Field size should be fine—last year lots of races came off the turf, and we besides raced four days a workweek in December. ”
The MJC ’ s growing off-track dissipated network—another facility in Carroll County is expected to open soon—generated about $ 40 million in wagering in 2017. Sinatra said he ’ five hundred like to see that number increase 15 % -20 % this class .
“ One of the hardest matter is increasing days without affecting the overall product here and throughout the middle atlantic region, ” Sinatra said .
Laurel will race three programs a week, except for several Mondays, through the goal of its winter/spring meet.

Sinatra besides a newly “ sports ledger ” with a 72-by-26-foot screen being built adjacent the current sports bar could be open in time for March Madness. Laurel has regularly offered diverse sports promotions and contests in its sports stripe, but besides is looking ahead should sports betting be legalized pending the results of a Supreme Court subject brought by New Jersey .
VLT PURSE DEDICATION ACCOUNT GETS BOOST
Gross video lottery terminal gross at Maryland casinos increased 30.5 % to about $ 1 billion in 2017, and that entail emergence in the submit ’ randomness Purse Dedication Account and Racetrack Facility Renewal Account .
The Maryland Lottery reported crying VLT gross of $ 999,669,111 for last year, up from $ 765,917,540 in 2016. last year marked the first full class of operation for the MGM National Harbor casino ; that adeptness accounted for 31.8 % of VLT gross tax income in the state .
cavalry rush in Maryland receives 6 % of VLT gross for purses at five casinos—MGM, Live ! casino, Horseshoe Baltimore Casino, Hollywood Casino Perryville and Ocean Downs Casino—and 2.5 % at Rocky Gap Casino Resort. Maryland Lottery statistics show $ 58.38 million was generated for the Purse Dedication Account in 2017, up 14.3 % from $ 51.05 million in 2016 .
Racing ’ mho legislated plowshare dropped from 7 % to 6 % in December 2016 with the open of MGM.

The Racetrack Facilities Renewal Account, which offers matching funds to tracks for capital improvements, collected $ 9.53 million end class, astir 31.8 % from 2016. The bill is funded by 1 % of VLT gross at casinos with the exception of Rocky Gap .
Based on the legislate splits of 80 % for the Thoroughbred industry and 20 % for the Standardbred diligence, the Thoroughbred share was $ 46.7 million and the harness partake $ 11.67 million .
The VLT gross has been an important part of the brace growth in sawhorse racing and breeding in Maryland, including extra rush opportunities for both breeds. With MGM National Harbor nowadays having operated for a full moon class, and no new casinos in the grapevine in Maryland, VLT tax income is expected to level off given stay competition in neighboring states .

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