New Hampshire Considers Legalizing Video Slots amid Tax Needs

New Hampshire is considering expanding its gaming sector with a new vertical amid financial needs. Officials believe that legalizing video slot machines would generate extra tax revenue that would help the government fill certain gaps.

New Hampshire Considers Slots

For reference, New Hampshire already allows historical horse racing machines, which are very similar to slots. However, HHRs leverage historical racing data to determine the outcome of a player’s bet, making them a slightly different product from video slots. In New Hampshire, HHRs serve as part of the state’s charitable gaming program.

However, proponents of more traditional slot machines highlighted that the vertical could generate millions in taxes. Slots are generally one of the most profitable forms of gambling because of their fast-paced nature and vast selection of different games with various features.

Because of that, supporters of video slots in the Granite State predict up to $65 million in total gaming tax revenue, should the change pass.

These extra proceeds would allow the government to fund a variety of beneficial initiatives. Among other things, Governor Kelly Ayotte has been looking to reverse previously introduced cuts to a first responder retirement plan.

Officials Believe the Extra Funding Could Really Help the State  

State Rep. Joe Sweeney addressed the matter, highlighting the benefits of legalizing video slot machines. In an interview with local news outlet WMUR, he emphasized that slots have a faster game time, are allowed to make more revenue on a daily basis, and can therefore generate more money for the state’s charitable gaming program.

So, legalizing video lottery terminals means more money for the charities, it means more money for the state’s education trust fund, and it allows us to fund other general fund obligations.

Joe Sweeney

In a separate statement, Charlie McIntyre, executive director of the New Hampshire Lottery, praised the potential to generate more money to support charities and police retirement. He added that Gov. Ayotte’s cause is an excellent one.

McIntyre explained that the future of the extra tax proceeds will ultimately depend on the government.

How it gets spent is a decision for the folks elected. I work in the executive branch. We just make money, and you folks spend it.

Charlie McIntyre

The State Might Take a Bigger Cut

In the meantime, officials are also discussing another potential change. If video slots start getting more money, the state might start to take a bigger chunk of the charities’ cut.

Rep. Daniel Popvici-Muller weighed in on this saying: “I don’t think if their pie keeps growing that we can never ever start reducing it.”

Earlier this year, a proposed bill in New Hampshire championed the legalization of online casinos. Online gambling remains restricted only to a few US markets, despite ongoing efforts to add new markets to the mix.