Arkansas casinos post revenue up 9% to $614M in 2022

Combined total revenue for Arkansas casinos in 2022 was $614 million, according to information provided by the Arkansas Department of Finance and Administration. The figure implies nearly a 9% increase from $564.8 million delivered in 2021. Southland Casino Hotel in West Memphis posted the largest win with $298.8 million, up nearly 11% from 2021.

Saracen Casino Resort in Pine Bluff placed second for the year by reporting total revenue for 2022 of $162 million, up nearly 5% from $154.6 million delivered in the previous year. For its part, Oaklawn Racing Casino Resort in Hot Springs reported a total win of $159.3 million, up nearly 9% from $146.2 million in 2021.

Total revenue includes wins from terminal games like slot machines and video poker, table games like craps and blackjack, and sports betting, both within casinos and online. Arkansas' revenue ranked 19th of the 35 states tracked by US casino industry trade group American Gaming Association.

Much of Southland Casino Hotel’s success over the last months is attributed to a $320 million project that owner Delaware North completed in 2022 to transform the property into a full-fledged Las Vegas-style casino destination.

Renovated Southland Casino's interior

The renovation added a 113,000-square-foot casino floor with 2,400 slot machines and 50 table games and 20-story, 300-room luxury hotel and eight restaurants. During the year the complex was rebranded as Southland Casino Hotel. Live greyhound racing there ended in December.

"The new casino floor has performed well, including a New Year's Eve celebration that drew large crowds," Osi Imomoh, president and general manager of Southland Casino Hotel, told Arkansas Democrat-Gazette. "To continue to build visitation, Southland has enhanced its marketing efforts with a more consistent calendar of promotions and events and a focus on adding members to its Lucky North loyalty program."

As for Saracen Casino Resort, management also said that 2022 was a strong year for the property, but noted that since it first opened its doors, Saracen faced a shifting market. From the effects of Covid-19 shutdowns and outbreaks, to high inflation and gasoline prices, external factors had a big impact on the casino’s customer base.

"We don't really know what a normal year looks like," Carlton Saffa, chief market officer for Saracen Casino Resort, which is owned by the Quapaw Nation, said in a recent interview, as per the cited source.

Saracen Casino Resort

Arkansas approved in 2019 Amendment 100, allowing for four casino licenses to be issued in the state: one each for casinos in Pope and Jefferson counties, and one at each of the state’s established racetracks. Additionally, the amendment also authorized sports betting.

Arkansas’ record year for annual gambling revenue produced a total of $90.2 million in taxes for the state, up from $80.6 million a year earlier. As for individual wins, the three casinos saw a total win from terminal wagers of $533.6 million, and table game total wins of $62.5 million. But for the first time, mobile sports betting also contributed to the state casinos’ net win.

The three gaming properties booked winnings of $10.5 million from online sports betting for 2022, the first year of the legalized market. Saracen saw the largest win with $6.2 million since May, followed by Southland at $3.5 million since March and Oaklawn at $883,761 since September.

When the casinos’ retail sportsbooks are added in, Saracen saw total sports betting revenue of $7.6 million, Southland posted $7 million, and Oaklawn won $3.3 million. While sports betting is still a small part of the casinos’ total revenue, officials see in them an avenue for growth, adding demographics that tend to be younger than typical casino visitors.