2018 GAMBLING REVENUE IN NEW MEXICO

As reported in the AP, the New Mexico Legislative Finance Committee recently reported that tribal casino declined in New Mexico from $69.7 million in 2012 to $62.8 million in 2018, which is about a ten percent decline. They also reported that non-tribal gambling (mostly racetrack) declined in the same time period from $63.4 million to $61.6 million.

Although racetrack data is electronically transferred to the gaming control board on a real-time basis, the tribes do self-reporting without any rigorous state oversight. If the tribes report less revenue, they don’t have to pay as much revenue sharing to the state.
It’s encouraging to consider New Mexicans losing less money to predatory gambling interests, and the Pojoaque and Mescalero casinos have been flirting with bankruptcy from time to time, which could hopefully point to less gambling damage in the future.

The last couple of years the New Mexico Racing Commission has been flirting with the idea of approving a sixth racetrack license in one of several potential locations. All five of the current racetrack license holders are opposed to their issuing another license, largely consistent with the decline in track revenues. It makes no sense at all to issue another license, but wealthy gambling interests still want a portion of that shrinking pie.

Lottery income is another issue altogether. They reported a 6% INCEASE in income during 2018, even though they have been vigorously lobbying the legislature to give them Online lottery games to expand even further their growing revenue. You wonder if this is to help offset the 26% pay increase they have approved for lottery CEO David Barden.

An article in the Albuquerque Journal about the lottery can be found by clicking here.

It’s easy to see who are the winners in these scenarios: Gambling industry developers and management. The losers are the citizens of New Mexico 100% of the time.

It’s time for the government to get out of the predatory gambling racket.