Hollywood Casino Perryville, which opened in Maryland on September 27, generated over $2 million in the first four days it was open for business.
â€śAt this point, we are delighted at the success of the casino,â€ť said Vernon Thompson, director of the county’s department of economic development. â€śWhen they’re making money, weâ€™re making money.â€ť
The casino has 1,500 slot machines and each one averaged $346 in gross revenue per day during these first four days of operation. The town of Perryville may earn up close to $10,000 per day from the four days.
â€śIâ€™m very happy with the amount of revenue generated,â€ť said Perryville Mayor Jim Eberhardt. â€śIt all sounds good on paper, but weâ€™d like it in our hands.â€ť
According to Maryland state law, revenue earned from the casino that is shared with town and county governments must be put toward building and maintaining road, bridges, and other facilities that are affected by the casinoâ€™s presence. Perryville and its surrounding county, Cecil County, came to an agreement that gives 65% of grant revenues from Hollywood Casino Perryville to the county and 35% to the town.
Brian Lockhart, president of the board of county commissioners, said that he is pleased with the casinoâ€™s initial success.
â€śTo me, even more exciting than the potential new revenue is the 350 new jobs created by the casino,â€ť said Lockhart.
The Maryland State Lottery Agency is responsible for collecting the gross revenue from the casino and transferring it into the state treasury.
â€śThe state, according to law, will disburse [the revenue] to Penn National Gaming, Maryland Education Trust Fund, Maryland Lottery, and the Maryland Racing Commission,â€ť said Erica Palmisano, communication business manager of the Maryland State Lottery Agency. â€ś[The Maryland Racing Commission] is in charge of local impact grants, a horse racing purse account, and a racetrack facility renewal account.â€ť
Mike Hopkins, executive director of the Maryland Racing Commission, said, â€śMy understanding is that three separate accounts will be set up under my control. Once the money is in the accounts I will distribute it as soon as possible to the jurisdictions receiving the local impact grants.â€ť
Once Hopkins has the information he needs, the money will be disbursed to each of the recipients by monthly electronic transfers.