Gaming goes down in New Mexico
The gaming industry in New Mexico experienced a decline in annual revenues over the 2012-2018 period, dropping from US$69.7 million to US$62.8 million.
US.- The Legislative Finance Committee issued a brief on the current situation of the gaming industry in New Mexico. The report shows that casino gaming revenues shared by tribal casinos shrunk from US$69.7 million to US$62.8 million.
Moreover, state tax income from nontribal gambling also declined by 3%. The segment – dominated by racinos – dropped to US$61.6 million, down from US$63.4 million over the same period.
The report shows that the iGaming vertical – unregulated – may be drawing money away from casinos.
Sports betting in the state
Gaming got updated in New Mexico with sports betting’s arrival in the state. Though lawmakers didn’t legalise it, the tribal gaming compact doesn’t prohibit it, so they got to launch sportsbooks.
However, state taxation officials estimated poor sports betting revenue for state coffers. They assessed that they could bring in US$21 million at a 26% tax rate.
Most recent launch
William Hill US and the Mescalero Apache Tribe announced a partnership this week to launch a sportsbook this summer at the Inn of the Mountain Gods. The resort and casino from New Mexico features 38,000 square feet of action-packed gaming.
The sportsbook, powered by William Hill, utilises the gaming company’s industry-leading risk management and proprietary technology. This partnership marks the first sportsbook powered by William Hill in New Mexico. It is also the first tribal agreement for William Hill outside of Nevada. The companies revealed that bettors also will have access to William Hill’s innovative wagering technology, kiosks, and InPlay wagering menu.
