Racino jackpots! | Arkansas Blog

Friday, August 15, 2008

Racino jackpots!

Posted By on Fri, Aug 15, 2008 at 9:25 AM

Gamblers at the racinos at Southland and Oaklawn parks lost about $2.7 million gambling on the slot machines at the racinos in July.

That's one way of analyzing the numbers on electronic gambling, reported by Talk Business. Gamblers fed $18 million into Oaklawn machines and $36 million into Southland machines in July. The payout was about 95 percent of the $54 million in wagering, with the juice going to the houses and taxes. Since the slots were plugged in in November 2006, gamblers have pumped nearly three-quarters-of-a-billion into video poker, blackjack, keno and pure slot-style games of chance. Call them games of skill only if you insist in adopting the PR term of the racino industry. If skill were involved, the racinos wouldn't have been looking at $30 million or so in net from that period.

UPDATE: In response to a question, about 35 percent of the net after wager payoffs goes to state and local government and funds for live race purses and breeders. So, if the net in July was $2.7 million, the tracks would keep about $1.75 million.

From the ArkTimes store

Favorite

Comments (26)

Showing 1-26 of 26

Add a comment

 
Subscribe to this thread:
Showing 1-26 of 26

Add a comment

More by Max Brantley

Readers also liked…

  • Charter school accountability: Non-existent in Arkansas

    A state audit finds charter school spending violated state law, but the state Education Department says it has no responsibility for ensuring proper management of charter schools. Say what?
    • Mar 5, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 2016
  • Policy group urges opposition to new charter seats in Little Rock

    The Arkansas Public Policy Panel is urging supporters of the Little Rock School District to tell state Board of Education members they oppose applications to be heard this week to dramatically expand the number of charter school seats in the Little Rock School District.
    • Mar 9, 2016

Most Shared

  • Bad health care bill, again

    Wait! Postpone tax reform and everything else for a while longer because the Senate is going to try to repeal and replace the Affordable Care Act one more time before September ends and while it can do it with the votes of only 50 senators.
  • Sex on campus

    Look, the Great Campus Rape Crisis was mainly hype all along. What Vice President Joe Biden described as an epidemic of sexual violence sweeping American college campuses in 2011 was vastly overstated.
  • The inadequate legacy of Brown

    LRSD continues to abdicate its responsibility to educate poor black students.

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation