Arkansas could soon have an iGaming segment in the state. It is largely contingent on how the Arkansas Gaming Commission reviews the application submitted by Saracen Casino Resort. They applied last month, in March, and are now waiting to hear from them. It requires relevant authorities to amend ARC Rule 5 to allow the Resort to offer a new form of entertainment to the residents of the American state.
The application’s approval will result in mutual benefits, which will be fruitful. It will enable the Resort to provide consumers with additional facilities. For the state, this means an increase in tax revenue collection. Estimates suggest that annual tax collection amounts to $12 million. The figure could be more or less than that, but the estimate in itself is pretty bright for the state to consider the application.
Moreover, allowing Saracen to host iGaming following the amendment will give authorities more power to hold them accountable for their operations if they lead to any misconduct or if supervision is required. Carlton Saffa, the Chief Marketing Officer of Saracen, interacted with the media. Saffa stated that there is a good chance they will get the desired approval. They have based this on the assumption that people in the state are already engaged in gambling in online casinos, which are not taxed or regulated by the authorities. This, therefore, takes away the authority’s right to hold operators to the standards.
Arkansas already received benefits from online poker, daily fantasy sports, and other similar entertainment sources. If anything, amending the rule will make the state more profitable. Some of the best online casinos in the USA have their sights set on how the Commission handles the submission of this application by the Resort. An approval will make Arkansas the first jurisdiction to legalize iGaming, paving the way for more operators to enter the market and flood the offerings with multiple options.
There are concerns about the application’s approval, and hence the amendment to ARC Rule 5. They refer to the cannibalism of retail casinos in their respective markets. Giving a green light to iGaming will hamper their growth by diverting customers to something more convenient and entertaining. According to a counterargument, the approval will only help the state strengthen the segment and collect more tax revenues. Evidently, the true ramifications will become apparent once the Commission deliberates on the subsequent course of action.
Online casinos are currently legal in Delaware, New Jersey, Michigan, Connecticut, West Virginia, and Pennsylvania. Rhode Island joined the list last month.
iGaming, or online casinos, is gaining traction across the US. Residents are seeking a new form of entertainment in their spare time—something with which they can engage at the tips of their fingers, irrespective of their location.
