Gaming tax revenues up in fiscal 2011

Editor’s note: Roby Brock, with our content partner Talk Business, wrote this report. He can be reached at [email protected]

Electronic games of skill (EGS) at Arkansas’ two gambling venues cooled from their May highs, but still remained on a torrid pace in June.

In May, West Memphis-based Southland Racino and Hot Springs-based Oaklawn Park set new monthly highs for electronic gambling after flooding on the Mississippi River closed a number of Mississippi casinos.

In June, Southland posted EGS wagers of $109.2 million, up 119% from last year, but 23% lower than in May 2011. Southland’s May EGS totals of $142 million was a record high.

For Oaklawn, June 2011 was steady. Its casino wagers topped $53.5 million, a 45% increase from one year ago and just 8% below its record month of May when EGS wagers were $58.2 million.

With the state’s fiscal year closing on June 30, 2011, tax collections from Oaklawn and Southland were also finalized. Taxes from EGS wagers brought in nearly four times as much revenue as horse and dog racing tax revenues, which saw a slight decline from the previous year.

The Arkansas Department of Finance and Administration reported:

Taxes for FY 2011
Games of skill
July 2010-June 2011: $14.8 million
July 2009-June 2010: $8.5 million

Racing (Oaklawn, Southland)
July 2010-June 2011: $4 million
July 2009-June 2010: $4.6 million