Details in expanded gambling bill in Maryland
August 30, 2012
ANNAPOLIS, Md. (AP) — Here is an overview of Maryland legislation to expand gambling in the state passed by the General Assembly and signed by Gov. Martin O’Malley.
Casinos would be allowed to have table games like poker and craps. If approved by lawmakers and voters in November, table games could start early next year at a 20 percent tax rate for the state.
PRINCE GEORGE’S CASINO
A casino could be built in Prince George’s County with table games and 3,000 slot machines, if passed on the ballot and county voters approve. The allowable area includes National Harbor and Rosecroft Raceway. Applicant proposals could include bids to keep between 33 percent and 38 percent of the revenue.
VETERANS ORGANIZATIONS
Veterans groups could have five instant pull tab gambling machines at their facilities.
Maryland Live! in Hanover would pay 8 percent less tax to spend on promotional costs and capital improvements to offset added competition from a Prince George’s casino. It now keeps 33 percent of revenue generated by the casino.
A planned casino in Baltimore would get a 7 percent tax cut.
The Worcester County casino’s share goes from 33 percent to 43 percent in July 2013.
A planned casino in Allegany County would get 50 percent of its revenue for 10 years and 43 percent after that.
HOW MUCH FOR MARYLAND?
About $174 million would go to education in fiscal year 2017, assuming a license has been awarded for the Prince George’s casino, which can’t open until 2016. That would go up to an estimated $199 million in fiscal year 2019.
Casinos would be open 24 hours.
Maryland Live! would get an added 8 percent tax cut for buying or leasing slot machines, instead of the state. Other casinos could get a 6 percent tax cut for owning machines.
Details in expanded gambling bill in Maryland
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