New Hampshire Authorizes Casino Growth, Eliminating Restrictions on Video Lottery Terminals
In a significant move, Governor Kelly Ayotte has signed House Bill 2 into law, transforming New Hampshire's gambling landscape. The bill, aimed at updating charitable gaming in a responsible manner, has brought about several changes, including the removal of caps on video lottery terminals (VLTs) in casinos and the introduction of high-stakes poker and table game tournaments.
The lifting of the VLT cap allows casinos to install an unlimited number of these slot-like machines, which are expected to generate more revenue compared to historical horse racing machines due to faster gameplay and a wider variety of gaming titles. The tax rate on revenue generated from high-stakes tournaments is set at 5%, while VLT revenue will continue to be taxed at 31%.
The expansion of VLTs and the introduction of high-stakes tournaments are anticipated to boost charitable gaming funds and state tax revenues, with most of New Hampshire's 14 casinos expected to invest in VLTs. The law, which was signed on June 30, also includes a statewide self-exclusion system to help problem gamblers limit their activities across all legal forms of gambling in the state.
The state regulator, previously known as the New Hampshire Lottery Commission, has been renamed the New Hampshire Lottery & Gaming Commission to reflect its expanded oversight over gaming activities. Discussions about balancing the growth of gaming profits and charity donations are ongoing as New Hampshire implements these new rules.
Representative Daniel Popvici-Muller has suggested that if gaming profits significantly increase, lawmakers might reconsider the amount of money allocated to charities. The rollout of the new rules is expected to take months, and the money raised will be allocated to the state's general fund, programs to prevent addiction, and nonprofit groups working with casinos.
Governor Ayotte has expressed support for using gambling revenue to fund first responder retirement plans and meet wider budget needs. Lottery Executive Director Charlie McIntyre emphasised that the executive branch aims to generate funds, but it is the lawmakers who decide how to allocate them.
This update is part of a larger law package called House Bill 2, which aims to modernise New Hampshire's gambling industry in a careful and responsible manner. The law's implementation marks a significant shift in the state's gambling landscape, offering more gaming options and potentially increased revenue for the state's budget and charitable causes.
- The gambling landscape in New Hampshire has undergone a transformation due to Governor Kelly Ayotte signing House Bill 2 into law, resulting in the expansion of the gambling industry.
- The removal of caps on video lottery terminals (VLTs) in casinos and the introduction of high-stakes poker and table game tournaments are the key changes brought about by the bill.
- The increased revenue from VLTs is anticipated, due to faster gameplay and a wider variety of gaming titles, while the tax rate for high-stakes tournaments is set at 5%.
- The state's self-exclusion system, included in the law, is designed to help problem gamblers limit their activities across all legal forms of gambling in the state.
- Governor Ayotte has expressed support for using gambling revenue to fund first responder retirement plans and meet wider budget needs, while conversations about balancing gaming profits and charity donations are ongoing as New Hampshire implements these new gambling-related changes.
