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Arkansas Casino Group Claims Revenues Could Offset State Grocery Tax26 October 2000LITTLE ROCK, Arkansas – Oct. 26, 2000 – As reported by The Associated Press: "Taxes on six casinos proposed for Arkansas could generate as much as $249 million annually - enough to eliminate the state sales tax on groceries, casino supporters said Thursday. "Backers of proposed Amendment 5 based their projections on a study by an Arkansas State University professor, who also has forecast $230 million annually from a state lottery that would be authorized by the amendment. "..The proposal on the Nov. 7 ballot would grant Arkansas Casino Corp. exclusive rights to run casinos in the home counties of Fort Smith, Hot Springs, Harrison, Little Rock, Texarkana and West Memphis. "…The study by economics professor Daniel Marburger said the casino tax revenues could range from $66 million to $249 million, depending upon the size of the casinos. "…Besides offsetting the sales tax on groceries, part of the casino tax revenues also would go toward education purposes, anti-gambling programs and local governments. "…The study said the tax would generate $660,000 to $2.5 million annually for the Arkansas Compulsive Gambling Foundation and $550,000 to $2.1 million annually for each of the casino's home counties - Boone, Crittenden, Garland, Miller, Pulaski and Sebastian counties…" |