Arkansas Casinos Increased Their Profits by 9% in 2022

That period became the best for the local entertainment sector. Gaming establishments poured over $90 million in taxes. In 2021, that figure amounted to $80.6 million.

Read this article to learn about 3 casino brands that showed considerable growth in the region.

Earnings in Detail

The most significant gain of about $300 million was received by the Southland Casino Hotel. The profit growth was about 11% compared to the figures documented in 2021.

The 2nd place was taken by the Saracen Casino Resort. This wagering house recorded a gain of $162 million in 2022, a growth of about 5%.

The Oaklawn Racing Casino Resort is in 3rd place. The documented turnover was almost $160 million, a 9% rise over 2021.

The total profit of the venues was calculated based on earnings from various wagering products:

• slots;
• video poker;
• board games;
• sportsbook offerings, etc.

Both web and in-casino activities were taken into account. The yield achieved by Arkansas gambling houses classified 19th out of 35 territories monitored by the AGA.

Reasons for the Success

There were several explanations for why profits increased so considerably. Firstly, the transformation of the Southland establishment gave a significant boost. Thanks to the $320,000,000 investment, the venue has become visually similar to casinos in Las Vegas.

It is currently a gambling house covering an area of 113,000 sqft, on which 2,400 slot equipment and over 50 board entertainment units are located.

The facility comprises a splendid hotel with:

• 20 floors;
• 300 rooms;
• 8 restaurants.

Osi Imomoh, the establishment’s director, said that the renovation has paid off. To improve profits further, Southland has widened its advertisement attempts. The representatives focused on organising special occasions and including more people in their loyalty system called Lucky North.

The officials of Saracen stated that 2022 was a particularly successful year. Excellent results were achieved despite the difficulties in the amusement industry and the global market such as high petrol prices and inflation.

Earnings by Categories

The 3 businesses documented total earnings of $533.6 million from wagering terminals and a complete profit of $62.5 million from board games.

A large sum ($10.5 million) also came from online sportsbooks:

• Saracen’s officials reported the highest earnings, with $6.2 million gained since May.
• Southland’s experts documented $3.5 million in revenue obtained since March.
• Oaklawn’s profit reached almost $885,000 earned since September.

Although retail betting constitutes a tiny portion of the revenue in the local casinos, gambling experts see it as a possibility for growth.