Racinos in South Florida paid 7.9 million in slot taxes this fiscal year, beating the record 2.5 million paid the year before. The state receives 35 percent of slot revenues from the eight casinos at horse and dog tracks and jai-alai frontons. Together they took in 7 million in slots revenue in the year ending June 30, a 3 percent increase from the 1 million casinos made in 2014-15.
Slots at racetrack casinos only are legal due to a 2004 constitutional amendment approved by 50.8 percent of Florida voters. Broward and Miami-Dade later had separate referendums to approve racinos. In 2004, slot referendum supporters predicted the machines would raise as much as $500 million in annual tax revenue. Florida slots began with a 50 percent tax rate, which was lowered to 35 percent in 2010.
All of the Miami-Dade casinos improved from last year. Magic City Casino took in $83.5 million, up almost $3 million and Calder was up $1 million to $74 million. Hialeah Park came in at $68 million and Casino Miami at $61 million; both took in about $4 million more than 2015.
All three Broward County operations declined. The leading operation, Isle Casino in Pompano Beach dropped more than $2 million to $143 million. However, the newly re-opened Casino @ Dania Beach made up for the losses, resulting in an overall increase for the county.
Gulfstream Park Racing & Casino and Mardi Gras in Hallandale Beach rival Mardi Gras both fell about $1 million from last year. Gulfstream came in at $48 million and Mardi Gras at $46.8 million. Dania Beach most likely had some impact, although the remodeled jai-alai fronton had revenue of $11 million.
The area’s poker rooms took in only $41 million.
The Seminole casinos do not report their slot revenue, although depositions indicated the tribe’s seven Florida casinos took in $2.2 billion from slots, table games and poker. The tribe paid the state a 12 percent tax on revenue for exclusive rights to offer blackjack–about $200 million annually—until their state gambling compact expired last year.
The Miccosukee tribe, which runs a casino in west Miami-Dade, has no gambling compact and does not share its revenue figures.
Slot tax revenue could grow significantly, depending on the outcome of a Florida Supreme Court case that could allow slots to be added in at least six Florida counties.
