Oklahoma Has $105 Million Reasons Why Gambling Compacts Are Good

Lawmakers in the state of Florida are having a hard time coming to grips with allowing the Seminole Indians to offer full Class III gambling at their casinos. These lawmakers need to look only to Oklahoma to see the possible benefits of giving in just a little bit.

The state of Oklahoma received $105 million in payments from tribal casinos this past fiscal year. The state entered into a compact with the tribes to allow poker, Vegas-style slots, and blackjack and are now benefiting more every year from that decision.

The $105 million paid to the state represents a twenty-three percent increase over the previous fiscal year. Of the money generated, $250,000 will go towards problem gambling awareness and treatment.The rest of the money goes to the education system.

"I think it's also important to point out that tribes are more than delivering on revenue projections under the gambling compact in 2004," said Cherokee Nation Principal Chief Chad Smith, "the state estimated the entire compact, including revenue from horse racing tracks, would total about $70 million a year, and today tribes alone are putting more than $100 million into education."

That is a key point that is made by Smith. In Florida, many legislators are concerned that a deal with the Seminoles would be too front-loaded, and the out years would become a problem. Oklahoma is proving that projections are simply that, and that the reality with casinos is that they tend to over-achieve in the revenue department.

Oklahoma is much more open to tribal gaming than Florida. In Oklahoma, the three largest tribes contributed more than they did last year, while in Florida the Seminoles are one of only two tribes that currently operates casinos. The other is the Miccosukee Tribe.

Fees to operate gambling machines in Oklahoma went from $68 million in the fiscal year 2008, to $91 million for 2009. The fee for the Seminoles in Florida would be over $100 million.

July 8, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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