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Gaming Tribes Bringing in Money

Oklahoma’s gaming tribes are bringing in millions of dollars in slot machine revenue for the state’s public schools. The tribes that have signed gaming compacts with the state have the right to operate both Class II bingo type slot machines and Class III Las Vegas type slot machines. Either way, the state is getting millions for schools.

Voters approved slot machine compacts with the tribes at the end of 2004, and since then, the tribes have paid more than $46 million to the state. They pay a percentage of their slot machine revenue to the state monthly as they have the exclusive rights to own and operate the slot machines. The exclusive fees are paid on both the slot machines and the table games.

The majority of the slot machine revenue goes to Oklahoma’s public education system, with $14 million going to the state just last year. There are only three months left to the fiscal year, and the state has already gotten $30 million from them. They expect in no time to be bringing in at least $70 million annually.

Officials say that the slot machines have been bringing in about $4.5 million a year from the tribes and a lot of that has to do with the increase in Class III slot machines. Class II slot machines bring in a whole lot of money on their own, but Class III ones mean that the big guns have been brought out.

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