Arkansas's Casino Gaming Revenue Increases by 9% in 2022, Reaching $614 Million
In 2022, Arkansas's casino revenue hit an unprecedented high of $614 million, setting a new benchmark for the state's burgeoning commercial gaming sector.
Gaming profits, as reported by the Arkansas Department of Finance and Administration, surpassed $614.1 million. This figure encompasses winnings from slot machines, table games, and sports betting, both offline and online. The revenue represents a 9% increase from 2021.
Voters in Arkansas opted to significantly broaden the gaming landscape in the state through a 2018 referendum. This amendment to the state constitution authorized the state's two racetracks — Southland and Oaklawn — to transform into full-scale Las Vegas-style casinos featuring slot machines, live dealer table games, and sports betting.
The referendum also greenlit the construction of two brand new casinos in Pope and Jefferson counties. Out of these two, only one — the Saracen Casino Resort in Pine Bluff — has been opened so far.
Southland Takes the Lead
Southland Casino Hotel in West Memphis, a former greyhound track where racing ended in 2021, topped the list of casinos in 2022. Managed by Delaware North, a New York-based hospitality and gaming conglomerate, the casino raked in approximately $264 million from gamblers, marking an 11% Year-on-Year growth.
Osi Imomoh, Delaware North’s president and general manager, said that the new casino floor has been performing well. He added that to boost visitor numbers, Southland has beefed up its marketing efforts with a more consistent lineup of promotions and events.
Imomoh also mentioned that the resort is focusing its marketing strategies on demographics within a 300-mile radius of the property.
The 113,000-square-foot casino floor of Southland houses 2,400 slot machines, 50 table games, and a Betly Sportsbook. The resort offers 300 guestrooms in its 20-story hotel.
Saracen came in second in terms of gaming profits with a revenue of $162 million, up almost 5% from the previous year. Owned and operated by the Quapaw Nation of Oklahoma, the tribal-owned commercial casino spans 80,000 square feet and is furnished with 1,800 slot machines, 30 table games, a dedicated poker room, and a BetSaracen Sportsbook.
Saracen officials stated that the casino’s operating environment during its first two years hasn’t been typical due to the ongoing influence of the pandemic.
"We don't really know what a normal year looks like," said Saracen executive Carlton Saffa.
Oaklawn Racing Casino Resort placed third in the Arkansas casino industry in 2022 with a revenue of $146.2 million, up almost 9% from 2021. Oaklawn, which is still active as a thoroughbred racetrack in Hot Springs, hosts 1,500 slots, 30 tables, and an Oaklawn Sportsbook. The casino's on-site hotel offers 200 rooms.
Arkansas's National Ranking
Arkansas imposes a graduated tax on casino revenues. The initial $150 million in GGR is taxed at 13%. Once the revenue surpasses $150 million, the tax rate is increased to 20%. GGR represents gross gaming profits before taxes and expenses, along with revenue sharing with the casino's slot manufacturer and/or distributor.
According to a report by the American Gaming Association, GGR nationwide surpassed $60.4 billion last year. This record performance was spearheaded by Nevada, with casinos in the Silver State accounting for more than $14.8 billion.
Arkansas ranked 19th among the 34 states that offered commercial casino gambling in 2022.
Read also:
- Leverkusen claims victory in the cup, securing a double triumph.
- Alonso achieves a double victory after consuming a German brew.
- Does the SVolt factory in Saarland face stability issues?
- Furor surrounding Sylt scandal footage