Some modifications may very well be coming to New Hampshire casinos.
According to a report from the Concord Monitor, the House Finance Committee agreed to part of Gov. Kelly Ayotte’s funds that may swap out historic horse racing machines for both conventional slot machines or video lottery terminals.
Additionally, a invoice would explicitly authorize properties to swap out HHR machines for VLTs. VLTs are similar to conventional slot machines, however outcomes are primarily based on a lottery-type setup.
It would additionally get rid of wagering on the state’s charitable casinos. There is a $50 cap on wagers within the present authorized panorama.
The state at present permits historic horse racing machines as a substitute of video lottery terminals or slot machines. HHR machines appear and feel like common slot machines, however their outcomes are primarily based on horse race outcomes.
Swapping the state’s 3,300 HHR video games for extra conventional slot-like video games in New Hampshire’s 12 casinos may see state income climb if SB 83 is authorized. It additionally is step one to permitting conventional slot machines in these properties.
“The video lottery terminals will produce a significantly larger amount of revenue for the state and for the charities that participate than the historic horse racing machines,” State Rep. Joe Sweeney stated.
Charity Gaming Becomes Big Business
New Hampshire’s on line casino business is extremely distinctive. Properties should donate at the least 35% of desk recreation income to charities, and one other 10% goes to the state. However, HHRs provide a extra profitable association for casinos. For HHRs, casinos can maintain 12% of the deal with, with operators retaining 75%. Charities obtain 8.75%, and the state collects the remaining 16.25%.
If the invoice passes, Sweeney predicts the state would have 4,000 slot machines and 500 HHRs, including as a lot as $128 million in state income and $70 million for charities and nonprofits. The state additionally at present caps wagers at $50. The estimates take into consideration lifting that cap as a part of the laws.
By comparability, HHRs introduced in simply $28 million final 12 months for the state. Gov. Kelly Ayotte® has included the extra slot income within the state’s upcoming funds.
A current report from the Spectrum Gaming Group., a Pennsylvania-based consulting agency, estimated that the state may very well be a $1.1 billion gaming market in simply three years.
“In the big picture, we think New Hampshire is on a good track,” Spectrum Executive Vice President Joe Weinert stated. “You are experiencing growing pains, I don’t think, which is a surprise to anybody.”
Along with this newest gaming-related invoice, state legislators have just lately checked out legalizing on-line casinos, which incorporates on-line poker.
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