Maryland may face $250 million casino and lottery hit; casinos develop reopening plans

Maryland may face $250 million casino and lottery hit; casinos develop reopening plans

Due to coronavirus, Maryland might face $250 million hit as the revenue received from its lottery games and casinos has completely plummeted, said the director of lottery and gaming, Medenica on Thursday.

Medenica further said that the state casinos are working with precise detailing procedures before the reopening even though no date for the doors of the casinos to open has been set. On March 16th six casinos were ordered to be shut down followed by a series of mandates by the Government of Logan Harry in order to curb the spread of the pandemic virus.

The money received from the lottery and casino is essential to Maryland’s budget. The revenue collected from two sources is rounded up to $1.3 billion for the state during the fiscal year-end that is set to be June 30th. According to the reports received by the state, Casinos generated the most significant chunk that is $717.5 million.

However, this year the forecasts look very dim. Medenica further said that if the pandemic situation prevails and the casinos remained closed to the end of the fiscal year, Maryland would be down by more than $200 million in its contribution to the state.

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