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NORTON'S NOTES: Thoughts on iGaming
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by Steve Norton
CEO, Norton Management
Conservatives oppose Adelson’s federal gambling ban | TheHill
On the issue of Online Gaming, I am on the same page as Sheldon. Even if the licenses are given to the existing operators, there are few instances where it helps that states gaming development. The one place I feel it was justified, was New Jersey; where Atlantic City was loosing half of their customer base to Eastern Pennsylvania, Maryland and the slots at Aqueduct and Yonkers. Approximately 95% of New Jersey's population has an out of State casino or racino that is closer to them than AC.And in AC's case, all of the Online Casinos are being operated by AC casino companies. But in Philadelphia, where the State is looking at Online Gaming, slots at bars and airports, Fantasy Sports, and who knows what else; casino are located all across the State. And even if Online Gaming is operated by the existing casino operators, they will be taking live customers from the live experience; and will have less desire to invest in improving their home casinos.
NORTON'S NOTES: Thoughts on Florida Gaming Overhaul
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by Steve Norton
CEO, Norton Management
John Sowinski: Finally, a sensible gambling plan for Florida’s future - Florida Politics
My comment:
Mr. Sowinski is paid to oppose gaming, on behalf of a group that believes that the family image of Florida will be damaged by casino and other forms of gaming. Florida is a very large State, and in nearly every community the number of adult visitors far exceed those of children and persons under age 21. And a large percentage of adult visitors approve of casino gaming for the slot machines and table games, plus the other forms of entertainment provided. For Florida residents the benefits, whether you gamble or not; are jobs, taxes, construction and even more tourism.
NORTON'S NOTES: Illinois Gaming Expansion Bill
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by Steve Norton
CEO, Norton Management
Illinois gambling proposal would add casinos in 6 places
My comment:
As a gaming executive, that was in Illinois at the start of gaming, and have since been following Illinois and all gaming jurisdictions; I would have to say that this State has been the most inconsistent in casino gaming in the entire US. Presumably Video Gaming Machines were approved in 2012 to raise new tax revenue for a State in desperate need of new taxes. But when I study the issue, I find that 9 riverboat casinos in 2007, produced more tax revenue that a combined 10 riverboats and 5,726 video license holders with 24,480 machines in 2016. In 2007, the 9 riverboats with around 250 table games and just under 10,000 slot machines, paid $833 million in taxes on $1.92 billion in casino win (a tax rate of 43.3%).
NORTON'S NOTES: Macau Smoking Compromise
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CEO, Norton Management
GGRAsia – Macau govt’s own smoking lounge plan doable: SJM’s So
My comment:
This compromise is better than a total smoking ban at Macao casinos; but by not allowing the same air handling in the high limit rooms; the per person spend will most likely decline. When Illinois introduced their smoking ban, the win per customer declined by 14%, from 2007 to 2010, at Greater Chicago's 4 casinos. Since the customer counts at the riverboat casinos also include non smokers, the actual impact is higher than the 14% reported. I would hope that some Macao casinos have previous customer numbers in the VIP rooms, so that they can compare the impact that smoking breaks will have on patrons having to leave their games to enjoy a cigarette.