Gambling Income in New Mexico Declines Over Six-year Period

0
491

 

Tribal casino revenues and taxes from racetrack gambling in New Mexico have shown that the industry is contracting in the area. The annual revenues that are shared by tribal casinos within the state declined 10% from 2012 to 2018, shrinking from $69.7 million to $62.8 million.

The state tax income from the nontribal gambling, which is dominated by racetrack casinos, declined by 3% for the same period to $61.6 million, down from $63.4 million.

The briefing from the Legislative Finance Committee notes that growth in the online gambling industry, which is not authorised in New Mexico, may be drawing a share of the market away from New Mexico casinos.

Population demographics also rein in the industry. New Mexico saw just 1% population growth during the six-year period.

Sports betting operations are illegal by statute in New Mexico, but the tribal-state gambling compacts do not specifically prohibit it, leaving an opening for native American casino operators.

Previous articlePragmatic Play Goes Live On Wplay.co
Next articleGLMS President Addresses Sports Betting regulators at NCPG Conference in Denver
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.