The Hampton Beach Casino Ballroom in New Hampshire has received approval for a significant renovation.
The expansion and renovation of the beachfront entertainment were overwhelmingly authorized by the Hampton Planning Board this week. With a new hotel, charitable gambling casino, and concert arena, the project, which is expected to cost more than $500 million, will turn the dilapidated events center into an opulent mixed-use destination.
The idea was proposed by developers Sal Lupoli and Fred Schaake, subject to the approval of a larger charitable gambling facility.
Their plan for 169 Ocean Boulevard coincides with a modification in New Hampshire's charitable gaming regulations that permits video lottery terminals (VLTs) that resemble slots. Compared to older horse racing machines, VLTs operate faster, completing rotations roughly five seconds faster. The updated charitable gaming statute in New Hampshire eliminated gaming machine betting limitations and liberalized buy-ins for high-stakes card games. Additionally, charitable casinos are permitted to run around the clock, subject to municipal consent.
Since 2014, the Casino Ballroom facility has hosted charitable gaming. However, the Aces & Eights facility, which is about 8K square feet, is far smaller than what is planned.
Sal's Pizza, the Hampton Beach Casino, and the Riverwalk Pavilion in Lawrence, Massachusetts are all products of renowned real estate and hospitality entrepreneur Lupoli. Starting off as a bartender at the Hampton Beach Casino Ballroom, Schaake rose through the ranks of the organization. However, the Hampton Beach Casino Ballroom was owned by Schaake's grandfather, Fred Schaake Sr., until 2012, when he and his partners sold it to Lupoli.
Lupoli and Schaake will proceed with starting building on the multi-year reconstruction with the approval of the city.
A 208-room luxury hotel, nearly 40K square feet of beachfront retail and restaurant space, a 732-place parking garage, and 99 luxury residences with starting asking prices exceeding $1 million are all included in the blueprint. A new 3,500-seat performance hall will take the place of the 1,800-seat Ballroom.
Regarding the casino, it will more than quadruple in size to around 52,000 square feet. The upcoming casino will have more than 1,000 gaming positions, or slot chairs and seats at table games, whereas Aces & Eights has less than 100 gaming machines and a few table games.
The revised gaming law in New Hampshire requires casinos to keep 31.25% of VLT earnings. The state receives 31% of the gaming proceeds, with the remaining 35% going to the day's charitable beneficiary.
The Governor's Commission on Addiction, Treatment, and Prevention receives the remaining 0.25% after the New Hampshire Gaming Commission receives 2.5% for regulatory expenses.
State legislators added clauses that permit the local governments of Hampton and Salem to get a cut under the 2024 charity gaming reforms.
For the benefit of the town or city in which they operate, charitable casinos in Hampton and Salem are required by law to operate "a minimum of seven but not more than ten" days a year. Hampton will get the full 35% of the gross gaming proceeds on those particular days.
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