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New Hampshire Eyes Video Slots After Folding on Online Casinos

Proposal Could Rake in up to $65 Million in Tax Revenue

New Hampshire Eyes Video Slots After Folding on Online Casinos
New Hampshire Eyes Video Slots After Folding on Online Casinos

Spin ‘Em Reels

New Hampshire is once again at the forefront of casino news. Just a month after lawmakers unexpectedly tabled a proposal to introduce online gambling regulations, they could be giving it another shot. But this time, they’re taking a more traditional route with video slot machines.

That decision comes after legislators dashed hopes of reaping up to $39 million in annual revenue from mobile gambling apps. Now, they’re looking to find new sources of income. Projections suggest this proposal could yield up to $65 million each year.

However, House Bill 728, introduced by Representative Fred Doucette, has been sitting with the Ways and Means Committee for a couple of weeks. Not much has happened since.

 

A Second Chance?

According to industry insiders, the legislative pivot follows mounting pressure to modernize the state’s charitable system. The new proposal aims to supplement the existing historical horse racing machines with modern slot-style terminals.

New Hampshire’s gambling regulations are unique in the US. They require a share of the revenue from each of the 14 betting casinos currently active to support nonprofits. Local operators rely on HHRs and table games, with strict distribution formulas dictating how much goes to the charity, the operator and the state.

With HHR terminals already active in multiple venues, some lawmakers see video slots as the logical next step. Senator Timothy Lang, who spearheaded the shelved online casino bill, says upgrading to video lottery terminals (VLTs) is about efficiency and revenue.

Key Provisions

HB 728, outlines the framework for allowing these machines at local cash casinos. Here are the key takeaways:

  • Authorization of Video Lottery Terminals (VLTs)
  • VLTs would be taxed at 30% of gross revenue
  • VLTs are expected to bring in roughly $300 per machine daily.
  • Repeal of Historic Horse Racing Machines by 2028
  • Number of licensed charitable gaming venues remains capped at 18 until 2031
  • All VLTs must be tested and certified by an independent lab.

Advocates highlight that charities would see higher overall yields, while the state would capture a larger share in taxes. Operators would benefit from reduced operational costs since video slots often run more efficiently than HHR devices.

The Path Ahead

That’s not to say there won’t be opposition. Some officials who oppose the expansion of gambling lines warn that modern slot machines may encourage riskier behavior than HHR gaming. Lawmakers will likely address safeguards like self-exclusion policies and maximum spin limits.

New Hampshire’s path to modernizing gambling has been anything but straightforward. First came the idea of going digital, then an abrupt fold. Now, the state seems ready to double down on a land-based approach.

As we get closer to the end of the legislative session in the Granite State, next June 30, all eyes will be on Concord to see if video slot machines hit the jackpot.

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