Saracen Casino Seeks Regulatory Amendment to Launch iGaming in Arkansas

Following substantial revenue generated following the legalization of online sports betting in Arkansas in 2022, Saracen Casino Resort in Pine Bluff is presently pursuing regulatory authorization to introduce an iGaming application and expand its online wagering services within the state. The initiative to legalize online slots, blackjack, baccarat, and other casino games could further increase online gambling revenues and represent an additional turning point for the Arkansas gambling industry.

Requesting a Regulatory Modification in Order to Introduce iGaming:

Saracen Casino Resort is reportedly requesting authorization from state authorities to introduce the state’s first iGaming application (THV11). Casino’s Chief Market Officer, Carlton Saffa, reportedly consulted with the Chairman of the Arkansas Racing Commission, Alex Lieblong, in an effort to obtain a regulatory amendment that would permit iGaming and iCasino platforms for online casino wagering.

Potential Tax Revenue of $12MM:

Saffa reportedly explained in the commission letter that “estimates indicate that online casino gambling from Saracen alone would generate an additional $12 million in state taxes annually.” Reportedly overseeing all forms of gambling in the state, the commission’s jurisdiction has been extended from casino games and horse racing to retail sports betting since July 2016 and mobile sports betting since April 2022. Providing the Saracen Casino Resort with the iGaming application 10cric apk it desires would expand the regulator’s jurisdiction and wagering options in Arkansas.

A Possible Approval Would Signify A Gambling Milestone:

THV11 reports that the state would also become the first in the region to legalize online casino wagering. Although certain online card games, such as poker, are presently permitted, Saffa purportedly maintains that these are inaccessible to customers. As a result, he is requesting that the Racing Commission amend the regulations governing lawful online gaming to incorporate iGaming within the existing legal framework.

“A solution exists by amending ARC Rule 5, which currently permits online poker, to include additional types of table games and slot machines,” Saffa reportedly stated. Engaging in such an action would yield substantial tax revenue for the government while simultaneously ensuring that operators are held answerably accountable. “Since online operators in the fantasy sports industry have disregarded state cease-and-desist orders, a police-only approach to the problem is ineffective,” Gambling.com, cited by THV11, asserts.

Saffa is reportedly planning to appear before the commission to hear the regulator’s decision by May 6, 2024.

Arkansas Is Aiming to Break the $500 million mark in 2024:

According to reports, the retail and online sports wagering establishments in the state generated a total of $404 million in revenue in 2023. It is anticipated that this growth trend will persist in the first quarter of 2024. Based on the CDC’s findings, Scott Hardin, the director of communications at the Arkansas Department of Finance and Administration, predicts that Arkansas could surpass the amount recorded in 2023 and achieve an unprecedented $500 million in wagering handle by the conclusion of 2024. In support of the forecast, the market processed $141.6 million in the first quarter of 2024, according to the same source.

Saracen Casino Resort and the Arkansas Racing Commission undoubtedly take into account these figures when deliberating the regulatory amendment.