Arkansas Casino Gambling Bill Details Now Made Public

arkansas casino gambling billAt the moment, Arkansas does not have any legalised casino industry, but the situation could change soon because the legislators are now planning to introduce a new bill. It would legalise the casino gambling in the state. At the moment, only dog racing and horse racing is permitted for the residents.

Now for the first time in 18 years, the residents of Arkansas are going to vote on a proposed bill that will legalise casino gambling throughout the state.

Casino gambling legalisation in Arkansas is likely to bring a massive amount of significant revenue to the state coffers in the form of gambling taxes and gaming licenses. At the same time, it would create new job opportunities and local tourism would get a boost.

If the constitutional amendment is approved by the voters, then it is expected that casino gambling will be legalised in Arkansas from November 14, 2018.

Gambling Levy

The Arkansas Gambling Casino Amendment Bill of 2018 would levy 13% taxes on the first $150 million on overall casino gambling receipts of the individual operator. Receipts with more than $150 million would attract 20% tax.

The state general revenue would receive 55% share of tax receipts of net casino gambling of individual operators. The Racing Commission would get 17.5% for the live racing fund, and 8% tax will go to the country where the casino will be located. If the casino is situated within the city, the city would then receive a 19.5% tax on overall casino gambling receipts.

Arkansas Racing Commission to Monitor Casinos

The Arkansas Racing Commission would look after the casino licenses in the state. This regulatory body would start functioning and discharge its duties not later than 120 days following November 14, 2018, when new gambling laws would be put into effect. Casino operators may submit their licenses application not later than June 1, 2019. The new gambling bill would not allow corporation, partnership or individual to hold multiple gambling licenses.

Under the new gambling regulations, the General Assembly of Arkansas has to enact the essential laws and allocate the appropriate amount of money so that Racing Commission is able to discharge its duties without fail. The new legislation is likely to take into effect not later than June 30, 2019.

Arkansas Racing Commission should provide a minimum of $200,000 to deal with compulsive gambling disorder and initiate educational awareness programs to deal with problem gambling which would be further handled by the Department of Human Services.

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