New Hampshire Bets Big on Casino Expansion to Boost State Revenue
Table of Contents
- New Hampshire Bets Big on Casino Expansion to Boost State Revenue
- Revenue Projections and Early Success
- Concerns Over Revenue Allocation
- Eliminating Wager Limits
- Future of Gaming in New Hampshire
- Addressing Problem Gambling
- Other Changes
- New hampshire Gaming Revenue
- evergreen insights: The Evolution of Casino Gaming
- Frequently Asked Questions About New Hampshire Casino expansion
New Hampshire is poised to significantly expand its casino gaming landscape, with slot machines expected to debut in select casinos before year’s end. This move, coupled with the elimination of wager limits, aims to substantially increase revenue streams for both the state and its designated charities. These changes were formalized into law by Governor Kelly Ayotte, marking a pivotal moment for the future of gaming in New Hampshire.
Revenue Projections and Early Success
The state has already seen substantial growth in gaming revenue. In 2022, gaming brought in $8.3 million. That figure jumped to $23.7 million in 2023 and then climbed to $35.2 million in 2024.
These figures exclude revenue from lottery tickets and sports betting.
The Lottery Commission anticipates even greater returns as slot machines replace historical horse racing (HHR) machines. Current HHR machines generate about $200 daily,but the Commission estimates slot machines could bring in an average of $300 daily per unit.
did You Know? The american Gaming association reported commercial gaming revenue hit a record $66.5 billion in 2023, highlighting the industry’s growth nationwide.
Concerns Over Revenue Allocation
Despite the anticipated financial gains,some lawmakers express reservations about were the money goes.State representative Bill Ohm has questioned the practice of directing casino revenue to charities and nonprofits.
Ohm stated that charitable donations should originate from individuals and foundations, not from gambling revenue. He added, “I think the state should generate revenue to pay the bills of the state and not generate extra money that’s going to be allocated to charity… I think it’s a little strange with a huge deficit, we’re cutting hundreds of millions of dollars on important programs, to now give hundreds of millions of dollars to charities.”
Eliminating Wager Limits
New Hampshire’s decision to eliminate wager limits is a strategic move to attract high rollers. Initially, players were capped at $10 per bet for games like poker and blackjack. That limit rose to $50 last year, and now, there’s no ceiling at all, opening the door to bigger bets and potentially bigger revenue.
Future of Gaming in New Hampshire
Senator Tim Lang, a proponent of expanding gaming to increase state revenue, said the signed budget reflects the reality that casinos are no longer small, mom-and-pop operations. He anticipates that over the next five years, “destination casinos” will begin to emerge across the state.
“I think it’s going to be positive in the long run for the state and both for the tourism industry, as well as the revenues for the state,” said Lang.
Tho, with the moratorium capping HHR licenses at 18, a limit set to remain in place until 2031, and with casinos dispersed across the state, Lang said he doesn’t expect New Hampshire to turn into the next Las Vegas.
“You’re not gonna see one town become all gaming. I don’t think anybody in New Hampshire wants that to happen,” he said. ” We just want to be able to allow the operators to be able to thrive and for New Hampshire to be able to allow its citizens or visitors to be able to do that. We are a very tourism-centric state.”
Addressing Problem Gambling
Currently, individuals can request to be placed on an exclusion list at specific casinos to avoid gambling. with the rapid expansion of gaming across the state, a more comprehensive solution is in the works. The latest budget includes funding to support problem gambling initiatives, including the creation of a statewide self-exclusion policy.
Before this centralized system can be rolled out,the state must first issue a request for proposals to find a company capable of implementing and managing it.
The budget also shifts the responsibility for addressing problem gambling from the Lottery Commission to the governor’s Commission on Alcohol and Other Drugs.
Lang said the change is logical, as diffrent types of addiction often go hand in hand. “Somebody addicted to one thing also has other addictions as well, and our goal is to treat it more holistically,” said Lang.”The goal is to be holistic in that approach when it comes to addiction and not have different messaging for different types of addiction.”
Other Changes
The budget renames the New Hampshire Lottery Commission to the New hampshire Lottery and Gaming Commission. The new budget also establishes a 10-year commission on charitable gaming.
Legalized casinos in New Hampshire were initially introduced to support nonprofits through charitable donations. However, many organizations have struggled to be included in the casinos’ rotating donation schedules.
The charitable gaming commission will focus on issues such as revenue distribution,casino expansion,limits on donations to individual charities and increasing the number of charities included in casino schedules.
New hampshire Gaming Revenue
| Year | Revenue (Millions) |
|---|---|
| 2022 | $8.3 |
| 2023 | $23.7 |
| 2024 | $35.2 |
evergreen insights: The Evolution of Casino Gaming
Casino gaming has evolved significantly over the decades, transitioning from small, localized operations to large-scale, destination resorts. This evolution has been driven by changing consumer preferences,technological advancements,and shifts in regulatory frameworks. The expansion of gaming in New Hampshire reflects a broader trend across the United States, where states are increasingly turning to casino gaming as a source of revenue and economic development.
The introduction of slot machines and the removal of wager limits are strategic moves designed to attract a wider range of players and increase revenue potential. These changes are part of a larger effort to modernize the state’s gaming industry and position New Hampshire as a competitive player in the regional gaming market.
Frequently Asked Questions About New Hampshire Casino expansion
- What is the primary goal of expanding casino gaming in New Hampshire?
- The primary goal is to increase state revenue and support local charities through increased gaming revenue.
- How will the introduction of slot machines impact revenue generation?
- Slot machines are expected to generate an average of $300 daily per unit, compared to the $200 per day from current HHR machines, leading to a significant increase in revenue.
- What measures are being taken to address problem gambling with the expansion?
- The state is implementing a statewide self-exclusion policy and shifting responsibility for addressing problem gambling to the governor’s Commission on alcohol and Other Drugs.
- How will the charitable gaming commission impact nonprofit organizations?
- The commission will focus on issues such as revenue distribution, casino expansion, limits on donations to individual charities, and increasing the number of charities included in casino schedules.
- What is the long-term vision for casino gaming in New Hampshire?
- The state aims to create “destination casinos” that attract tourists and generate revenue while maintaining a balance to prevent any single town from becoming dominated by gaming.
Pro Tip: Stay informed about local gaming regulations and responsible gambling resources to ensure a safe and enjoyable experience.
What are your thoughts on the expansion of casino gaming in New Hampshire? How do you think it will impact the state’s economy and communities?
Disclaimer: This article provides general details about casino expansion in New Hampshire and should not be considered financial or legal advice. Consult with a professional advisor for specific guidance.
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