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NORTON NOTES: AC Should Look into Flight Subsidies
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- Hits: 974
By Steve Norton
CEO, Norton Management
New International Flights to LV Create Economic Impact
My comment:
Las Vegas, as well as other cities, offer cash incentives to add international air service to their airports. Atlantic City should be doing the same, with one of the best and underutilized airports in America. And AC is in the middle of one of the highest traffic parts of North America, with airports in New York City, Philadelphia, Washington, Baltimore and Newark, all with costly fees, along with the added fuel costs associated with circling before landing or waiting in long takeoff stacks before departing.
NORTON NOTES: Chicago, Should Raise VGT Taxes
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- Hits: 928
By Steve Norton
CEO, Norton Management
My comment:
With Governor Pritzger desiring to earn another $90 million in tax revenues from the video gaming business, the most logical way is to increase the VGT revenue tax rate from 30% to 50%, which would immediately add $150 million in annual state and community revenues.
Introducing a 50% tax on route operators would encourage creating new companies to reduce the revenues of the existing operators. In actuality, the primary benefits of VGT machines reside with the bar or liquor license holders, who would not have to pay any additional taxes, under the Governor's plan.
NORTON NOTES: Location, Location, Location
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- Hits: 884
By Steve Norton
CEO, Norton Management
Put the Casino on the East Side
My comment:
My location message is to place the destination casino resort, where it will produce the most revenues, taxes, and jobs. Putting the casino in Southeast Chicago, to redevelop an environmentally damaged industrial property or to low-income neighborhoods to provide jobs, both miss the point of providing a major attraction for Chicago's visitor population: conventions and trade shows.
These will immediately attract more attendees and exhibitors, because of the existence of a destination casino, plus new shows will add Chicago to Las Vegas and Orlando as their favorite destinations. Plus, with its 100 thousand hotel rooms, a casino in downtown Chicago, will derive most of their gaming revenues from convention attendees, business travelers and weekend tourists, not the resident population, like the Illinois riverboat casinos do.
NORTON NOTES: Sands + Osaka = $$$
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- Hits: 924
By Steve Norton
CEO, Norton Management
Osaka to be the Best Choice for IR Location: Goldstein
My comment:
I feel confident that Sands President, Rob Goldstein, has had detailed analysis done that compared the economic potential of the greater Tokyo market with that of Osaka/Kyoto. But with a metro population of 37.8 million residents (the world’s largest) and an airport serving 87 million passengers (number 5 worldwide), I have to believe the potential for a Sands type convention/casino resort, is as good or even better than Osaka.
There is no question in my mind, that either of these two locations will produce, by far, the highest casino revenue of any existing or proposed destination casino anywhere.