Slots Net Nearly $1 Billion

Albuquerque Journal - Gambling activity in New Mexico grew a little less than 2 percent in 2011, but the state’s tribal casinos and state-licensed racinos and nonprofits still had a “net win” of nearly $975 million. In addition to revenue for gaming operations, that translated into more than $130 million paid into the state’s general fund via revenue sharing. “Net win” is the amount wagered on slot machines at tribal casinos, state-licensed racinos and nonprofit gaming rooms – minus payouts and approved regulatory fees. Net win is a key indicator of overall gambling activity. Tribal casinos pay the state nothing on their table games like poker and blackjack. Racinos and nonprofits can offer only slots machines. Collectively, the state’s gambling parlors reported $973.8 million in “net win” last year, a 1.9 percent increase over 2010. Gambling interests paid the state $130.2 million in gaming taxes, a 1.1 percent increase from 2010. (Albuquerque Journal subscription  required) Read More News New Mexico 

Slots Net Nearly $1 Billion