Iowa tribe begins construction of Harrah's Oklahoma casino resort
The Iowa Tribe of Oklahoma will open its first tribal casino resort in partnership with global gaming giant Caesars Entertainment. The tribe announced this week that construction is about to begin on the project in Chandler on Interstate 44 between Oklahoma City and Tulsa.
The Iowa tribe is one of 38 federally recognized tribes in Oklahoma, most of which operate tribal casinos through Level III state contracts. Gambling is the economic lifeblood of many sovereign nations, including the Iowa tribe that currently owns and operates two casinos.
However, the tribe's Cimarron and Iowa casinos are small gaming venues, offering 600 and 250 slot machines, respectively. Cimarron also offers some table games, and both have restaurants.
Iowa tribes are paying more attention to development in the Chandler area to better secure the country's economic future. The casino, operated by Caesars, will feature 1,000 slot machines, more than a dozen table games and a hotel with resort amenities.
Construction breaks ground
The Iowa Tribe announced in May that it had selected Caesars Entertainment as the management partner for its upcoming casino. Caesars will operate the resort on behalf of the tribe and share in its revenue.
Caesars said the tribal casinos will operate under the Harrah’s brand. Harrah's is a brand favored by Caesars for its tribal partnerships, although Harrah's also has commercial properties in 11 states.
Caesars' tribal partners include two Harrah's Cherokee casinos in North Carolina, Harrah's Ak-Chin in Arizona and two Harrah's casinos in California. The latter operates on behalf of the Rincon Band of Luiseno Indians and the Buena Vista Rancheria of Me-Wuk Indians.
Caesars' operating agreement with an Iowa tribe expands the casino company's tribal partnerships.
We are honored to have been selected by the Iowa Tribe of Oklahoma to help them achieve their goals. We look forward to introducing Harrah's to new markets. ” said Robert Livingston, senior vice president of development for Caesars Entertainment.
Tribal officials told local media this week that the resort will be built in phases, starting with the casino area and dining facilities. Hotels and resorts will come later.
Tribal leaders say the project will take "several years" from start to completion.
Tribe income
Chandler is about 40 miles northeast of Oklahoma City and 60 miles southwest of Tulsa. Although Interstate 44 connects two of Oklahoma's most populous cities, the Iowa tribe's two casinos on the corridor have always played a minor role in Oklahoma's tribal gaming industry.
Oklahoma taxes tribal slot machine income on a sliding scale. For the first $10 million in revenue, tribes share only 4% with the state. Taxes will increase to 5% on gross slot machine revenue (GGR) between $10 million and $20 million, and to 6% on slot machine winnings above $20 million. Table games are taxed at a flat rate of 10%.
In Oklahoma Fiscal Year 2022, Iowa tribes' tax liability is only $902,915. The Chickasaw Nation, the state's richest gambling tribe, paid more than $71.8 million in gambling taxes that same year. The Choctaw family paid more than $42 million.
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Source: www.casino.org
