ANNAPOLIS, Md. (AP) — Maryland analysts have revised estimated slot machine revenues downward, because of the economy and increasing competition in neighboring states.
Analysts told a lawmakers Thursday in Annapolis about revised state revenue from slot machines for fiscal years 2012 to 2016.
Estimated revenue from the two currently operating casinos in Perryville and near Ocean City has dropped about $56 million for the current fiscal year to $161 million.
The state’s largest casino is being built near Arundel Mills Mall in Anne Arundel County. Analysts say a delay in opening the casino from November 2011 until June 2012 reduced anticipated fiscal year 2012 revenues by about $179 million.
Proposed casinos in Baltimore and at Rocky Gap State Park in western Maryland are still being considered by the state’s slot machine commission.
(Copyright 2011 by The Associated Press. All Rights Reserved.)