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New Mexico Gambling News Brief

State mulls extending gambling compacts

Business Week,  Monday, March 12, 2007 at 1:49:27 PM

The New Mexico Senate has been urged to approve changes to tribal-state gambling agreements that call for the state to get a larger share of casino profits in exchange for the compacts lasting 30 years.

"Like all good compromises, this proposal gives everyone something and requires everyone to give a little something also," said Sen. Richard Martinez, D-Espanola, chairman of a legislative panel that has endorsed the compact changes.

"The tribes and pueblos get the financial security that comes with the longer compacts, the state gets a greater share of each casino's profits and the gambling landscape in New Mexico will remain relatively stable."

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