The casino industry in Arkansas has experienced significant growth in recent years and 2024 was no exception. Last year the state recorded gambling tax revenue of approximately $110 million. This large increase in revenue is attributed to the expansion of the state’s gaming market. This expansion is due to the opening of new casinos and the introduction of online gambling options like sports betting.
In 2018, Arkansas voters approved the legalization of casinos in designated regions of the state. This decision led to the opening of the first casinos in 2019, marking the beginning of a new era in Arkansas’ gaming industry. The initial step in this expansion allowed the establishment of casinos in specific locations, which quickly contributed to the state’s gaming landscape. Since 2019, the market has seen consistent growth, with new casinos being introduced and contributing to the overall revenue. The success of this expansion is reflected in the steadily increasing tax revenue generated by the industry.
Online gambling, especially sports betting, has played a significant role in increasing revenue. With the legalization of online sports betting, Arkansas residents can now place bets on various sports events through digital platforms. This form of gambling has been embraced by the public, further contributing to the state’s tax income. While online casino games, such as slots and table games, have not been legalized yet, offshore platforms that operate under international regulations are a game-changer to iGamers in this region. Bettors within the state can access online casino platforms that offer large game libraries, and bonuses, while some platforms even accept cryptocurrency as a payment method (source: www.tg.casino). Because online casino games are not yet offered within Arkansas and because the international platforms on offer are so extensive, many gamers choose to wager on a reputable and licensed offshore site. It’s worth noting that because these sites are international, the revenue generated from them does not contribute to the $110 million in tax revenue from casinos based in Arkansas.
Arkansas’ domestic gaming market generated nearly $110 million in tax revenue. The expansion of both physical casinos and online gambling options has driven this growth. The tax revenue generated by the gaming industry is allocated to vital public services that directly benefit the state’s residents. These services include the funding of educational institutions, healthcare facilities, and the development of infrastructure projects. The revenue supports the functioning and improvement of the state’s public sector.
The casino market expansion has also led to job creation with some new casinos estimated to employ over 1,000 full-time workers. Employment opportunities exist in gaming operations, hotel services, security, food and beverage, and entertainment. These jobs support local economies and markets and will likely continue to grow in the coming years.
In summary, the casino industry in Arkansas has grown significantly. This has generated nearly $110 million in tax revenue in just 2024 alone. The expansion includes physical casinos and online gambling options like sports betting. The tax revenue that has been earned supports public services such as education, healthcare, and infrastructure. Job creation and economic stimulation have resulted from market growth and will likely continue to grow and expand in the coming year and beyond.
-In collaboration with Bazoom
