New Mexico is among the states dedicating the year 2018 to many new offerings and gambling field development. It has been confirmed that mid-November the New Mexico Racing Commission is going to evaluate the pros and cons of a new horse racing track license. In addition to that, the state Lottery Authority is set to introduce a brand new sports betting-related tempting offering.
The month of October has been one of the heated ones for the state of New Mexico, as legal sports betting operation officially commenced at Santa Ana Star tribal casino. The location already draws the interest of casino patrons from near and far, attracted by the tempting wagering offerings provided by the Native American Tamaya Nation tribe. Moving in the same plane, the state Racing Commission is going to hold a special meeting dedicating its efforts to the horse racing field of New Mexico.
Sixth Horse Racing Track Might be on the Way
In an attempt to provide the region with competitive offerings and keep up with neighboring states to the liking of Arizona, Colorado, and Texas, the Commission is going to consider adding one more horse racetrack to the already existing ones. Operators willing to make it into the field could have the chance to do so if the commission decides to pursue field expansion. The potential racecourse will feature an adjacent casino venue, further elevating its offerings.
Giving the conversation green light on 15th November, an ultimate decision will have to be taken by the beginning of December, so that the process progresses ahead in a timely manner. The meeting is going to feature a vote providing all members with the chance to express their position regarding the issue. It should be taken into account that an over-saturation of the sector could lead to a cannibalization in the long run, which is a possibility that should be avoided.
For the time being, there are three companies willing to enter the horse racing field by a horse race track and casino venue, which could boost the regions of Curry, Hidalgo, and Quay Counties. If an approval is given, this is going to be the sixth racecourse for horse races within the borders of the state.
Sunland Park Raceway, Sunray Racecourse and Downs at Albuquerque, and Ruidoso Downs Racetrack are only three of the facilities currently operating, the latter since 1947. This sixth location could boost the local economy with its tax revenue, as well as support to the horse racing community with more live racing days.
Lottery Capitalizes on Sports Betting Craze
Sports betting is set to make its way into another of New Mexico’s gaming sector, as the Lottery Authority of the state announced its plans to introduce a brand new game directly linked to the results of sports events. This has been the first attempt at utilizing the overruling of PASPA allowing states to regulate sports wagering in an independent manner.
The region was the first one to launch sports betting west of the Mississippi but the operation at Santa Ana Star casino became a reality thanks to the Class III gaming license. Native American tribes overseeing casino venues operate under such permits which provide them with the apparatus to offer sports betting. Now for the first time, the state government is striving to take advantage of the situation.
The unanimous decision showed full support of the new game which is set to take over as early as February 2019. Such new offering targets younger residents that might not find the traditional lottery games that attractive. Projected revenue of this new game reaches $30 million annually, but players will also be able to benefit the community. According to the Lottery, some $9 million of the revenue will be poured into the State Tuition Assistance Program utilized by college students.
