Arkansas is all set to earn a combined $122 million in annual tax revenue if the state chooses to legalize casinos on the state. So, this November Arkansas will see voters considering this constitutional amendment that might legalise casinos in the state. This study was commissioned by Arkansas Wins in 216 a pro-casino group. Results of this study were released and as per the study it was found that if this amendment is passed and the three casinos are authorized with legislation then the state would be able to witness $122 million annual tax revenues which could be used by the state and the local government.
This study which was conducted by the Economic Impact Group LLC found that the three casinos plus ancillary facilities would be able to generate $768 million in revenues in one year with 3,200 jobs creation in process. With these casino operations in the state would also generate the ability to bring in $500 million in additional spending locally. As per the projected $122 million, the state would see $109.8 million of the total amount while $12.2 million would go towards local government.
According to the news agency, Economist Kyle Dean said in a statement released by the pro-casino group:
“Based on our findings, we believe the passage of Issue 5 will result in significant Arkansas investment, creating or supporting thousands of jobs while providing a new source of tax revenue for the state and local communities.”
Robert Coon, spokesman for the group Arkansas Wins in 2016 stated that at a time when leaders of the state are searching for critical tax revenues to be used in education, roadways, healthcare and income tax cuts, this $122 million in new gaming tax cannot be overstated. While at the same time others who disagree, The Committee to Protect Arkansas Values/ Stop Casinos Now are not in favour of this amendment and they do not want these casinos to be legalized in the state. As per the Chairman of the group who stated that this study is political propaganda and not worth the details shared.
Though there is a huge possibility of good chances of employment generation and it will also be historic for the tribal group since it will be the first of its location where they will be constructing a casino off tribal land.
Republican Gov. Asa Hutchinson also opposes the measure saying “It’s “far from” being about job creation.“This issue will most certainly have a negative impact on our communities, and it will no doubt create out-of-state monopolies,” Hutchinson said in a statement. “This is a bad deal for our state.”
