County and city coffers continue to benefit from the casino gaming amendment voters passed last year, as their shares of the tax levied on September net gaming receipts from Oaklawn Racing Casino Resort significantly outstripped what they received under the previous distribution formula.
Garland County reported $133,500 in collections of its 8% share of the tax levied on Oaklawn's September net gaming total, more than doubling the $53,389 realized the previous September under the games-of-skill formula. The county's share of the levy on July and August gaming profits netted $138,478 and $139,188, respectively, more than doubling the $57,922 and $59,051 from last July and August.
The county has received $411,166 in casino revenue since the new distribution formula took effect July 1, according to information provided by the county. Remittances run about two months behind collections.
The games-of-skill license Oaklawn operated under prior to the passage of the casino gaming amendment entitled the county to 0.50% of net receipts from games of skill, defined, according to the 2005 statute that authorized local ballot options for electronic gaming at horse racing and greyhound parks, as electronic devices or machines "that afford an opportunity for the exercise of skill and judgment where the outcome is not completely controlled by chance alone."
The amendment voters passed last year automatically licensed casino gaming, including sports wagering, at Oaklawn, dividing the 13% tax levied on Oaklawn's first $150 million of annual net receipts between the state, 55%, city, 19.5%, Arkansas Racing Commission Purse and Awards Fund, 17.5%, and county, 8%.
The tax increases to 20% on annual receipts over $150 million.
Hot Springs' share of the tax on September gaming profits came to $289,554, according to information provided by the city's finance department. The September share beat the previous year by more than 80%. The city received $337,542 and $339,272 from its July and August shares, an 83% and 95% increase over the previous year when it received 1.50% of net games-of-skill revenue.
The Garland County Quorum Court has discussed using the increased revenue from Oaklawn for an operational expansion at the county detention center, moving it closer to its physical capacity of almost 500 inmates. Funding additional patrol deputy positions at the sheriff's department has also been discussed.
The city is putting most of its new Oaklawn revenue in an account for unfunded capital projects such as a new fire station on the south side of town and the demolition of the old St. Joseph's Hospital infirmary on the campus of the Arkansas School for Mathematics, Sciences, and the Arts.
An agreement with the school requires the demolition within 16 months of the school removing its heating and cooling systems from the city-owned building.
Local on 12/04/2019