The state of New Hampshire is likely to have its gambling sector diversified soon as state officials paid close attention to the establishment of two casinos in the region.
During yesterday’s meeting, members of the House Ways and Means Committee backed the so-called Senate Bill 113, which means that one larger and another smaller casinos are to be built in the state. Committee members recommended the bill with the aim of adding “new non-tax revenue stream”.
However, the opponents of the casino expansion drew convincing arguments against the establishment of the new casinos. They said there was no guarantee that the expected revenue will be generated but it was certain that social issues are to arise. Once New Hampshire residents have abundant choice of gambling opportunities, they will be exposed to addiction and increased crime rates.
Namely the House was the reason why the casino expansion procedure has been halted for several years. In the past, Senate members gave their consent to different gambling-related bills but the House rejected all of them. It was not until last year when serious actions were taken in direction of expanding the gambling sector.
The sponsor of the current bill, Senator Lou D’Allesandro, commented on yesterday’s vote of the Committee and said that they have made the right decision as the casino establishment will create job opportunities and make local economy more stable.
According to the initial plan, Senate Bill 113 will allow the establishment of a large casino resort and a smaller venue. However, investors have to comply with certain requirements. They should be willing to invest at least $450 million into the larger casino and no less than $125 million into the smaller facility.
If passed into law, SB 113 will force the necessity of the establishment of a Gaming Commission that would monitor all gambling activities in the state.
As already reported, opponents of the casino expansion said that the price for the expected economy boost is too high as the number of problem gamblers is high and the availability of another two casinos can only make matters worse.
Yet, the proponents of the bill argued that the casino revenue can be used for various educational and transportation purposes and it will undoubtedly have a positive effect on the state economy in future.
People with knowledge on the matter said that it would be unrealistic to expect record casino revenue anytime soon but regardless, the casino expansion should be regarded as an indication that “New Hampshire is open for business”.
