News


New Mexico Racino Revenue Dips
Gaming revenue at New Mexico racinos has declined for the second consecutive year.

New Mexico Racino Revenue Dips

SANTA FE, NM—OCTOBER 20, 2017—According to an article by Thom Cole published last week on the Santa Fe New Mexican website slot machine revenue at New Mexico racetracks has declined for a second consecutive year, falling to its lowest level since 2005.

The tracks’ net win from slots — that’s the amount gambled minus the amount paid in winnings — totaled $226.4 million in the fiscal year that ended June 30, down from $241 million in the previous year and off $38.9 million, or 15 percent, from a record $265.3 million in 2015, according to figures from the New Mexico Gaming Control Board.

No one knows for certain what has driven the drop in slot revenue at the state’s five tracks.

The tracks paid $58.9 million in gaming taxes in the fiscal year that ended June 30, down nearly $10 million from 2015.

The drop in slot revenue is a blow to New Mexico's horse breeders, owners, trainers and others in the racing industry because 20 percent of the revenue goes into race purses. The amount of slot revenue paid by the tracks into race purses dropped nearly $8 million between fiscal years 2015 to 2017.

CLICK HERE for the complete story.