New Mexico Senate Bill SM25

New Mexico 2022 Regular Session

• Introduced: 2/7/22

Caption

Examine State Of Gaming In Nm

Impact

With the legislative finance committee and other relevant parties tasked with investigating the implications of current gaming practices, SM25 seeks to create an informed approach to decision-making around potential changes in the gaming framework. The goal is to provide a sustainable future for gaming that can compete effectively with neighboring states, which may in turn affect revenue generation and job creation within New Mexico. This could involve exploring the viability of introducing online casinos, poker, and sports betting, which are becoming increasingly popular in other jurisdictions.

Summary

Senate Memorial 25 (SM25) calls for an examination of the current state of gaming in New Mexico, emphasizing the need to assess how the state's gaming regulations can evolve to remain competitive with other states. The memorial highlights the growth in legal gambling avenues, including horse racing, casinos, and the lottery, while acknowledging that online gaming options currently remain limited to off-track betting. The spirit of the memorial is focused on maximizing tourism and economic opportunities through potential expansions in gambling laws.

Contention

While the memorial aims for a comprehensive review, potential areas of contention may arise during discussions about how changes to gaming regulations could impact existing stakeholders, including casinos, racing tracks, and tribal nations. Specific concerns may include the redistribution of market share and revenues among these entities, as well as the implications for local economies and communities that rely on tourism and gaming revenues. The outcome of this examination may challenge traditional gaming structures in the state and provoke discussions about balancing economic growth with responsible gaming practices.