{"id":231586,"date":"2022-09-12T16:21:52","date_gmt":"2022-09-12T21:21:52","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=231586"},"modified":"2022-09-13T05:18:58","modified_gmt":"2022-09-13T10:18:58","slug":"oklahoma-tribal-casinos-broke-revenue-records-in-august","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/oklahoma-tribal-casinos-broke-revenue-records-in-august\/","title":{"rendered":"Oklahoma Tribal Casinos Broke Revenue Records in August"},"content":{"rendered":"

Oklahoma tribal casinos shared a record $17.9 million with the state in August, reports The Oklahoman.<\/em><\/p>\n

\"WinStar
The WinStar World in Thackerville, Okla., owned by the Chickasaw Nation, is one of the biggest casinos in the world. Tribal gaming appears to be thriving in the state, despite rising inflation. (Image: YouTube)<\/figcaption><\/figure>\n

The numbers indicate the region\u2019s tribal gaming market is in robust health and continuing its bounce back after pandemic-related closures.<\/p>\n

\n

Tribal operators are not required to disclose their financial results publicly and generally do not. But since the state receives a percentage of its revenues, these figures — published by the Oklahoma Office of Management and Enterprise Services — offer indirect insight into the state of the industry.<\/p>\n<\/div>\n

Some 4% to 6% of the casinos\u2019 slot machine revenue, depending on the size of the operation, and 10% of non-house-banked table games flow into state coffers.<\/p>\n

Inflation Resistant?<\/strong><\/h2>\n

According to economist Alan Meister, the Oklahoma market is second only to California in terms of revenue, despite hosting more gaming facilities. It has more tribal operations than any other state \u2013 130, operated by 33 tribal nations. These range from modest electronic bingo halls to resort-style mega-casinos.<\/p>\n

The state\u2019s previous revenue-share record was just under $17.8 million in May 2021. So far this year, $193 million has flowed into state coffers, 13% more than the corresponding period in 2021. \u00a0\u00a0<\/strong><\/p>\n

The numbers also reflect the continued growth of Oklahoma\u2019s post-pandemic economy, despite rising inflation. Oklahoma and Texas, whose residents feed the tribal casinos, have seen a steady rise in wages over the past few years, according to The Oklahoman. <\/em><\/p>\n

The news comes despite ongoing beef between the tribes and Oklahoma Republican Gov. Kevin Stitt. That has stymied the introduction of sports betting in the state.<\/p>\n

Stitt Squeeze<\/strong><\/h2>\n

Shortly after becoming governor in 2019, Stitt attempted to squeeze more money out of the tribes. He wanted to renegotiate the 2004 model compact, an agreement that defined tribal gaming rights and revenue-share payments between states and tribes. And he wanted to dangle sports betting as an incentive to increase the state\u2019s cut.<\/p>\n

The tribes resisted, arguing the compact was designed to automatically roll over for another 15 years on January 1, 2020. Stitt claimed<\/a> it expired on that date and that operators who continued to offer slots and table gaming after the deadline were doing so illegally.<\/p>\n

In October 2020, a federal judge sided with the tribes, agreeing the compacts rolled over. Then, in July 2021, the courts nullified compacts Stitt had negotiated with a handful of breakaway tribes prepared to dance to his tune.<\/p>\n

The judge, in that case, said the governor had overstepped his authority by offering the breakaway tribes sports betting rights. <\/strong><\/p>\n

This disrupted the balance between the executive and legislative branches of government becausesports betting could only be authorized by the legislature, before being approved by voters in a public referendum, said the judge.<\/p>\n

The friction between Stitt and the tribes has stalled opportunities for gaming expansion, including sports betting. This is partly why many of the largest operators are branching out<\/a> into commercial markets outside Oklahoma or are exploring opportunities<\/a> in states where they claim ancestral ties, a prerequisite for tribal gaming.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oklahoma tribal casinos shared a record $17.9 million with the state in August, reports The Oklahoman. The numbers indicate the region\u2019s tribal gaming market is in robust health and continuing its bounce back after pandemic-related closures. Tribal operators are not required to disclose their financial results publicly and generally do not. But since the state […]<\/p>\n","protected":false},"author":36,"featured_media":231588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[61,1074,18456],"tags":[81917,81862],"acf":[],"yoast_head":"\nOklahoma Tribal Casinos Broke Revenue Records in August<\/title>\n<meta name=\"description\" content=\"Oklahoma tribal casinos paid record revenue-share payments to the state but sports betting off table due to beef with Gov. 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