OKLAHOMA CITY, OK/ 13 AUG 20/ Oklahoma revenue from casinos evaporated with COVID-19
SITREP: Current casino exclusivity payments to Oklahoma are down 34% compared to 2019. The impact is a decrease to public education funding by a projected $45 million. Additionally, tribal economic development and services may be impacted in the future.
RECOMMENDATION: Be prepared for decreased services in school districts on the state funding formula. The lack of revenue generation in the casinos should also be considered alongside the failed gaming compact negotiations by Oklahoma to increase the exclusivity fees on certain classes of gaming. Additional revenue for educational funding would normally come from energy but that revenue is also historically low.