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New Hampshire Charities Worry Over Casino Legislation

New Hampshire Charities Worry Over Casino Legislation

While New Hampshire is debating legalizing a commercial casino, charities in the area that rely on poker nights to raise millions of dollars every year are worried that a casino would result in them loosing crucial revenue.

New Hampshire Charities Worry Over Casino Legislation

Charities in New Hampshire are worried that the legalization of casinos could result in a loss of revenue.

Gene Doherty, Wentworth-Coolidge Commission Co-chairwoman, said that other methods of fundraising are insignificant compared to the $37,744 the commission raised last year at Rockingham Park. According to Doherty gambling revenues account for 80% of the commission’s budget.

New Hampshire has allowed the operation of these mini-casinos since 1977; they are run with few limits other than the size of the bet and the maximum number of days that a charity can sponsor an event.

Now a commission is drafting legislation to regulate casinos and casino bills are likely to be submitted in both houses of the legislature with a vote taking place next year. State officials estimate that $75 million is bet annually at events run by 389 charities.

While the state is obviously keen to get a share of this money via regulation and taxation, there is a genuine concern that a number of charities will no longer be able to offer services to the community if they lose their gambling fundraisers.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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