Issue 158
September 22-28, 2003
Volume 3
page 2
 

Analyst: Northeast US Ready for Gambling Expansion

/Press of Atlantic City/ - LAS VEGAS – State budget deficits, wagering across state lines, new Indian-casino compacts, and the decline of the horse-racing industry make the Northeast (including the Mid-Atlantic) fertile ground for gaming expansion.

What's now a $9 billion gaming market in the combined 13-state region could soon generate $16 billion in gambling revenues from nearly 200,000 slot machines at corporate casinos, Indian casinos, racetrack slots and state-operated electronic gaming devices, Innovation Group analyst Steven Rittvo told the Global Gaming Expo on September 18.

Gambling expansion of some type is a hot topic in 11 of the states, with Vermont and Virginia out of the loop. Only New York, however, has actually voted to expand gambling and only one of 14 possible casinos or racinos there - an Indian casino in Niagara Falls - has opened in the nearly two years since the legislation passed.

If the states' gambling plans that Rittvo classified as probable come to pass, the Northeast/Mid-Atlantic region would approach the saturation point of having one slot machine or one gaming-table seat for every 250 people. The ratio now is 658-to-1 in the Northeast and 333-to-1 in the Mid-Atlantic.

Pennsylvania could be next to pass a major gambling-expansion bill. Its legislature reconvened this month and, pushed by Gov. Ed Rendell, seems on the verge of legalizing slots at up to eight racetracks - and maybe other sites.

The impact of casinos and racinos in New York, Pennsylvania and Maryland on Atlantic

City casinos would be significant, experts said.

The threat to Atlantic City could depend on other states' tax structures. Scott Cooper, president of Wheeling Island Gaming, said his company's ability to operate three upstate New York racinos is constricted by the effective 78.5 percent tax rate on gross revenue, as well as a five-year sunset provision.

 

 

Las Vegas Gaining Flights - LAS VEGAS - Southwest Airlines, the busiest carrier at Las Vegas' McCarran International Airport, today announced plans to expand service to the gaming capital. Southwest said that beginning Jan. 18, it will launch daily nonstop service between Las Vegas and Spokane, Wash. On Jan. 24, Southwest will add Saturday-only service between Orlando and Las Vegas. Also announced today were Saturday flights between Los Angeles and Tampa, FL; between Chicago and Salt Lake City; and between Ontario, CA, and Reno.

Legal Challenges Delay Wisconsin Casino Expansion - MILWAUKEE, WI –Legal challenges of new state Indian casino deals have delayed a $120 million expansion to Milwaukee's Potawatomi Bingo Casino, a tribal spokesman said.

Tom Krajewski said on September 18 the delay is costing the Potawatomi money, delaying the hiring of an additional 1,000 employees and impeding the creation of some 500 construction jobs. The cases, now before the Wisconsin Supreme Court, challenge the constitutionality of gambling compacts that run indefinitely and abolish most restrictions on games.

The tribe had planned to break ground on a major expansion of its Menomonee Valley casino this fall. The casino had about $250 million in revenue last year, and tribal officials have projected that will double once they have the additional floor space to add more slot machines and table games.

A second lawsuit, filed by owners of Dairyland Greyhound Park in Kenosha, claims a 1993 amendment to the state constitution bans any gambling expansions.

Leevac Shipyard to Build Riverboat Casino - JENNINGS, LA – Leevac Shipyards has been awarded a $40.2 million contract to build the state's largest riverboat casino for Pinnacle Entertainment Inc.'s casino resort in Lake Charles.

Troy Skelton, Leevac's sales manager, said Thursday that the shipyard has set the riverboat's completion date for December 2004. The one-story riverboat for Pinnacle's $325 million casino-resort in Lake Charles will be 330 feet long and 225 feet wide.

Kid Rock

Kid Rock will perform at the Rain at The Palms Resort Casino on September 21, 2003.

Detroit's Kid Rock (born Bob Ritchie) appeals to a diverse audience, which is no surprise considering his music is a wildly eclectic mix of styles including rap, metal, Southern rock, hip-hop, blues, country and just about anything else you can think of.

Rock signed to New York-based Jive Records in 1990, releasing his debut album, "Grits Sandwiches for Breakfast." The single "American Bad Ass," was also a hit from the album "History of Rock," a collection of remixed or re-recorded "best of" material, as well as a few
new songs.

Price:
$85.00, $175.00

Price Note:
May not include all taxes & fees.

Show Time:
8:00 p.m.

Reservations:
Reservations Recommended

For more information please call: (866) 725-6773
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