The new gambling compact proposed by Gov. Susana Martinez’s administration and five New Mexico tribes—pueblos of Jemez and Acoma, the Navajos, Jicarilla Apache and the Mescalero—is presented to state’s legislators on Tuesday.
The revamped state-tribal agreement, if approved, would allow up to four new Indian casinos in the next 23 years and casinos can offer credit as well as free lodging and food to some high rollers and operate 24/7.
Some members expressed support for the agreement but others raised some questions especially about the state being saturated with casinos, given that New Mexico already has 23 casinos, and possibly hurting the horse-racing industry.
“At what point do we reach market saturation?” asked Rep. Larry Larrañaga, R-Albuquerque, after probing on Hernandez on the number of new tribal casinos that might be built as a result of the proposed compact.
Martinez’s Deputy Chief of Staff and lead negotiator Jessica Hernandez also highlighted that the compact would provide stability to gambling market in New Mexico and revenue to the state would increase in exchange to exclusivity rights for the tribe.
“It’s a very carefully negotiated agreement that balances a lot of different interests,” Hernandez said.
New Mexico received nearly $16 million gambling revenue in Q4 2014 from American-Indian tribes that operates in the state.