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October 21, 2011

State writes down forecast for slots revenues

Citing competition from other states and the slow recovery from the recession, Maryland's budget analysts wrote down slots revenues over the next five years by 12 percent or $474.3 million.

The new, lower figures are sure to be used in the upcoming session by groups interested in either adding table games to the menu of gaming options in Maryland and expanding gambling to new locations. Additions could include gaming at Rosecroft Raceway or National Harbor in Prince George's County or Frederick County where Sen. David Brinkley recently held a public hearing airing the idea.

In the forecast (p. 18), state budget analysts from Maryland's Department of Legislative Services revise an earlier prediction that revenues at the slots parlors in Cecil County and at Ocean Downs would "ramp up" over time. Now the revenues are expected remain flat.

The new estimate takes a $56 million chunk out of the state's roughly $13 billion general fund budget for this year. Baltimore city's casino, when it gets up and running, is still expected to be the state's second most lucrative, generating $336 million a year in taxes.


Posted by Annie Linskey at 1:08 PM | | Comments (1)
Categories: Slots
        

Comments

MD stumbles from one stupid move to the next. The lobbyist control the agenda in Annapolis. Utility deregulation brought to us by the Enron Lobbyist and now slots from the gambling lobby. Who could have predicted that with states surrounding MD going to full casino gambling that this short sighted venture would not provide the predicted revenue? So whats next is the state going to invest in the used car business for revenue?

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About the bloggers
Annie Linskey covers state politics and government for The Baltimore Sun. Previously, as a City Hall reporter, she wrote about the corruption trial of Mayor Sheila Dixon and kept a close eye on city spending. Originally from Connecticut, Annie has also lived in Phnom Penh, Cambodia, where she reported on war crimes tribunals and landmines. She lives in Canton.

John Fritze has covered politics and government at the local, state and federal levels for more than a decade and is now The Baltimore Sun’s Washington correspondent. He previously wrote about Congress for USA TODAY, where he led coverage of the health care overhaul debate and the 2010 election. A native of Albany, N.Y., he currently lives in Montgomery County.

Julie Scharper covers City Hall and Baltimore politics. A native of Baltimore County, she graduated from The Johns Hopkins University in 2001 and spent two years teaching in Honduras before joining The Baltimore Sun. She has followed the Amish community of Nickel Mines, Pa., in the year after a schoolhouse massacre, reported on courts and crime in Anne Arundel County, and chronicled the unique personalities and places of Baltimore City and its surrounding counties.
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