Oklahoma's share of gaming revenues falls short

Monday, January 30, 2006  

Oklahoma's share of gaming revenues has been revised significantly downward by the new state finance director.

Former director Scott Meacham had estimated the state would get $53 million from tribal casinos and racetracks. But his successor, Claudia San Pedro, says the state is only going to see $19.7 million this year.

Under a new state law, tribes who signed compacts must share a percentage of the revenues from certain electronic casino machines. But most tribes have not installed the so-called "compacted" games.

Under the law, three racetrack casinos can offer the same games as long as they share revenues. But two of the facilities were late in opening and the machines aren't doing as well as expected. Instead of bringing in $12.3 million for the state, they are expected to bring in just $4.7 million.

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Racino revenue falls off pace (AP 1/28)