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Maryland's Gamble On Casinos Pays Off For Treasury

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Of the $800 million that Maryland's casinos brought in, close to $300 million went to education programs.
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Of the $800 million that Maryland's casinos brought in, close to $300 million went to education programs.

Casinos are bringing in the cash in the state of Maryland—$800 million worth in the last fiscal year.

The state's gaming centers brought in $830 million dollars in fiscal year 2013, to be exact, a 27.5 percent increase from the year before. The money goes to the state's general fund and an education trust fund.

Maryland's four casinos generated $284.3 million for the state's Education Trust Fund, an increase of nearly $190 million compared to the last fiscal year.

Despite the gains in revenue, traditional lottery sales went down slightly. The agency generated nearly $1.8 billion in sales, down about two percent. Traditional lottery sales contributed $545 million to the state's general fund.

Maryland's casinos were allowed to be open for 24 hours this year, after voters approved a ballot question on gambling expansion in November. A new casino is expected to open in Prince George's County in the coming years.

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