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Slots To Generate Less Cash Than Expected

October 26th, 2011 by WCBC Radio

Maryland budget analysts say slot machines will generate nearly $475 million less for the state during the coming five years than previously forecast. That’s about 12 percent less than what was expected. The revenue write-down is due to the weak economy, greater competition from surrounding states and delayed openings of Maryland casinos, according to a report delivered to lawmakers last week by the Department of Legislative Services. The news is not surprising to former Maryland Governor Robert Ehrlich who pushed for slots to be legalized as early as 2003. He said had the general assembly not blocked that effort, revenues would be far greater today. He said the state completely mishandled the entire slots issue from day one….

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