In a little over three months, Arkansas casinos have managed to generate 23% more revenue than they did during the same period a year ago.
The state’s three casinos have generated $177 million in the first three months of 2023. By comparison, the three casinos combined for $614 million in 2022.
- Southland Casino Hotel in West Memphis
- Saracen Casino Resort in Pine Bluff
- Oaklawn Racing Casino Resort in Hot Springs
Southland Casino in West Memphis big winner to start 2023
From January to March, Southland Casino brought in $84.4 million in revenue, up 25% from $66.7 million last year. As for the other two properties over the same three-month period:
- Saracen Casino generated $46.6 million
- Oaklawn Racing collected $46 million
Speaking with the Arkansas Democrat-Gazette, Carlton Saffa, Saracen’s chief market officer, said the casino business is seasonal. “We had a strong first quarter and a record March.” Saffa continued by saying first quarter success can indicate how well the year will go.
The Quapaw Nation owns the Saracen Casino Resort.
Players love slots and video poker in Arkansas
Terminal machines, which include slot machines and video poker, continue to be the top revenue generator in the state. From January to March, slot machines generated $149.8 million, up 14% over the same period a year ago.
Osi Imomoh, president and general manager of Southland Casino Hotel, said in the Democrat-Gazette article:
“We’re pleased that Southland Casino Hotel has continued to see revenue growth in our casino offerings and Betly retail and mobile sports betting a year after our new gaming floor and restaurants opened.
We are also continuing to market the new hotel to help promote the casino as a super-regional destination and attract more visitors from a broader geography. We look forward to a strong spring and summer for the casino.”
For Q1, state casinos generated $29 million in tax revenue, up 30% from $22.3 million last year. The first $150 million of casino revenue is taxed at 13% per gambling law. After that, casino revenue over $150 million is taxed at 20%.