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Florida Gaming Summary

Background

Florida has a lottery, Class III Indian gaming, pari-mutuel wagering, and racetrack casinos with slot machines.

Racinos and Pari-mutuel

In Florida, pari-mutuel wagering is authorized for horse racing, harness horse racing, greyhound racing, jai alai games, and cardroom poker games. Additionally, slot machine gaming at pari-mutuel facilities is authorized in Broward and Miami-Dade Counties. Florida is one of the primary pari-mutuel states in the nation, and is the leading state in greyhound racing, as well as a major horse racing state. Florida is also the only state in the United States where live jai alai games are conducted. Currently there are 28 pari-mutuel facilities located throughout the State.

Twenty-five pari-mutuel facilities currently have card rooms.

Six pari-mutuel facilities have slot machines: Calder Casino & Race Course, Flagler Dog Track and Magic City Casino, Gulfstream Park, Mardi Gras Racetrack and Gaming Center, Miami Jai Alai, The Isle Casino and Racing at Pompano Park

Current tax rate: 42.79% of gross gaming revenues, plus payments to horse and god breeder funds, local authorities, and other funds.

Lottery

Development: In 1986, Florida voters authorized a lottery through a constitutional amendment, enacted by a two-to-one margin that would use its proceeds to enhance public education in Florida. Governor Bob Martinez and the Florida Legislature established the Florida Lottery with the mission of maximizing revenues for education to allow the people of Florida to benefit from significant additional monies while providing the best lottery games available.

Beneficiaries: After prizes and expenses, all remaining funds are transferred to the Educational Enhancement Trust Fund, where they are used for the benefit of public education. The Fund contributes money to assist public schools (K-12), community colleges, state universities, and the Bright Futures Scholarship Program.

For more information see the Florida Lottery website.

Florida Racino data (monthly)

Florida Racinos: Monthly Slot Revenues
Units, Credits In, Promotional Credits, Net Revenues, and Other Metrics

 

Florida Racino data (fiscal year)
Year
Slots
Slot Revenue
Win/Slot
Win/Slot/day
Hold%
2007
2,281
99,241,164
43,507.74
           119.20
8.91%
2008
3,626
241,120,630
66,497.69
           181.69
7.97%
2009
3,749
207,790,697
55,425.63
           151.85
7.69%
2010
4,620
276,250,211
59,794.42
           163.82
7.19%
2011
5,398
357,325,388
66,195.89
           181.36
7.07%
2012
6,390
411,322,634
64,369.74
175.87
6.80%

Powered by GamblingCompliance.com. For current information, visit GamblingData.com.

"Slots" is the total number of slot machines reported for the fiscal year in question. "Slot Revenue" is the total amount, in dollars, won by casinos. Win/Slot is the average win per slot machine for the year, "Win/Slot/Day" us the average win per slot machine per day for the fiscal year in question. "Hold %" is the average hold percentage for all slot machines for the fiscal year in question.

Florida Lottery data (fiscal year)
Year
Total Sales
Prize Liabilities
Prize %
Net Revenue
Net %
1996
2,061,484,000
0.00%
0.00%
1997
2,070,058,000
0.00%
0.00%
1998
2,050,037,000
0.00%
0.00%
1999
2,096,726,000
0.00%
0.00%
2000
2,248,496,000
0.00%
0.00%
2001
2,274,726,000
0.00%
0.00%
2002
2,330,365,000
1,165,843,000
50.03%
915,278,000
39.28%
2003
2,867,981,000
1,555,848,000
54.25%
1,024,563,000
35.72%
2004
3,070,962,000
1,724,488,000
56.15%
1,041,139,000
33.90%
2005
3,470,734,000
2,044,246,000
58.90%
1,091,868,000
31.46%
2006
3,929,030,000
2,340,859,000
59.58%
1,223,851,000
31.15%
2007
4,122,116,000
2,484,519,000
60.27%
1,259,435,000
30.55%
2008
4,174,776,000
2,476,032,000
59.31%
1,316,256,000
31.53%
2009
3,938,037,000
2,340,372,000
59.43%
1,252,171,000
31.80%
2010
3,900,499,000
2,346,162,000
60.15%
1,214,849,000
31.15%
2011
4,008,716,000
2,460,219,000
61.37%
1,196,622,000
29.85%
2012
         

Powered by GamblingCompliance.com. For current information, visit GamblingData.com.

Total sales is total ticket sales. Prize liability is the total amount of prize money paid back to winners. Net Revenue is the total revenue minus vendor and retailer commissions and prize payouts and operating expenses; it is equal to "operating income." Prize and net revenue percentages are taken from the total revenues.

Florida Gaming Timeline

1931: Pari-mutuel wagering at racetracks legalized

1937: Pari-mutuel wagering at jai alai frontons legalized

1986: Lottery legalized via constitutional amendment

1988: Lottery begins

1988: Class II gaming begins at Indian casinos

1996: Low-stakes poker at pari-mutuels begins

2003: High-stakes poker at pari-mutuels begin

2006:  Slot machines at racetracks (racinos) are legalized

2006: First racino opens

2007: Class III gaming at Indian casinos approved

 


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Last modified Thursday, 24-Jan-2013 11:47:40 PST