There are five racetrack operators licensed by the Gaming Control Board in the State of New Mexico.
Each racetrack casino may operate up to 750 machines: 600 of their own and 150 leased from another racetrack facility not utilizing its full allotment. An amount equal to 26% of “Net Take” is paid to the State of New Mexico in gaming taxes on a monthly basis.
By statute, 20% of the “Net Take” from racetrack gaming machines must go to horsemen’s purses. The impact of gaming on the horseracing industry has been significant. During FY2022, gaming revenues added $50,297,340 to purses for horse racing.
Qualified veteran and fraternal organizations may hold a gaming operator license. This license entitles the club to operate up to 15 gaming machines. Play is limited to the club’s membership. Profits from the operation are to be used to fund the charitable and educational purposes supported by the club. As of June 30, 2022, there were 46 clubs licensed and operating in the state. An amount equal to 10% of “Net Take” is paid to the State of New Mexico in gaming taxes.
Non-profit clubs are typically staffed by both volunteer and paid members and constitute a relatively small part of the gaming market. However, revenues can be significant for the individual non-profit’s charitable and educational activities and can directly support its community. During FY2022, licensed non-profit gaming operators earned approximately $1.8 million for charitable and educational purposes.