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October 30, 2020, GMT+0000, 16:10 pm
News Regulation

Gambling Revenue Drop in New Mexico

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The gambling sector in the US State of New Mexico appears to have contracted, according to evidence from the state’s lawmakers. 

A brief published by the New Mexico State Legislature revealed that revenue and taxation from the state’s casino and racetrack gambling sectors were either at a standstill or had gone into decline. 

The brief, which was produced by the Legislature’s Finance Committee, a nonpartisan group within the Legislature, showed that there had been shrinkage of around 10 percent between 2012 and 2018 in the annual revenues shared with the state government by tribal casinos. Annual revenue declined from $69.7 million to $62.8 million. In addition, the brief revealed that the tax receipts for the New Mexico government from non-tribal gambling, which mainly consists of casinos hosted by racetracks, had dropped by 3 percent from $63.4 million to $61.6 million in the six-year period. 

The reason for the decline is not obvious, but the brief suggests one possible cause could be the growth in illegal online gaming in New Mexico. 

The state’s gambling sector consists of 24 tribal casinos and another six Indian gambling venues that are spread across ten counties. There are also five licensed racinos in the state. 

Despite the growth in sports betting throughout the US, following last year’s overturn of the 1992 PASPA Act by the Supreme Court, sports betting remains technically illegal in New Mexico, although it is not specifically outlawed under agreements with native American tribes. Currently, the only facility that offers sports betting in the state is the Santa Ana Star Casino and Hotel sportsbook, but it is likely that other tribal locations will follow suit in the months ahead. 

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