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Read Full BioNew Hampshire Gov. Kelly Ayotte signed off on legislation that will allow casinos in the state to have unlimited video lottery terminals (VLT).
House Bill 2 removes the previous cap on VLTs, which limited casinos to 230-300 machines per location.
The bill also raises the tax on revenue generated from the machines to 31%. The distribution of the revenue has also been changed, with some funding now going towards the Elderly-Disabled-Blind-Deaf Fund.
The bill stipulates that of the total revenue generated, 0.25% will go towards the Governor’s Commission on Addiction, Treatment, and Prevention.
Of the remaining funds, charitable organizations will receive 35%. This is a requirement for all casinos in the state. New Hampshire does not have commercial casinos, but allows casinos to operate provided they donate a portion of revenue to charitable causes.
The remainder collected will be split between the state’s General Fund (50%) a Special Fund (25%), which is used to pay expenses of the Lottery & Gaming Commission, as well as 25% now going towards an Elderly-Disabled-Blind-Deaf Fund. Previously, 75% went towards the General Fund.
The removal of the limit on machines is estimated to generate $65 million annually. In addition to allowing for more machines in venues, the bill also removes a $50 stake limit, which could greatly increase revenue generated from VLTs.
Bill Expands Gaming Options, Renames Regulator
In addition to the changes related to VLTs, the bill also changes the name of the state regulator from the Lottery Commission to the Lottery & Gaming Commission. This reflects the oversight the organization now has over more gaming related activities.
The bill also expands gaming options, allowing for high-stakes poker and table game tournaments. These games will be taxed at 5%. Licensed casinos may allow tournaments that require buy-ins of over $2500, subject to commission approval.
As gambling options expand for residents, a statewide self-exclusion system has also been introduced. This will allow problem gamblers to limit their gambling habits.
The self-exclusion list will apply to all forms of legal gambling in the state, which includes casinos and sports betting.
New Hampshire is one of the few states in the country that allows 18-year-olds to gamble online. Lawmakers voted against raising the legal age for sports betting earlier this year.
Plans to legalize online casinos in the state were tabled, however. Although, the legislation may be revisited. The bill proposing legalizing online casinos would also permit 18-year-olds to participate.
