by Steve Norton
CEO, Norton Management

Challenges Push Casino Owner to Think Differently - Inside INdiana Business

My comment:

I can't agree with Dan Lee, that the Illinois casinos are in the wrong place. As the individual that worked with the State for 6 Legislative sessions, before casino riverboats were finally approved in a 1993 special session. Over those years, my primary arguments were that Indiana could benefit from the jobs, taxes, construction and tourism, while the residents of other states would provide the great majority of the customers. The first year, 1988, Iowa and Illinois had not even started their gaming Legislation, both opening their first riverboats in 1991.

The primary Indiana markets were Greater Chicago, Louisville and the 3 cities of Cincinnati, Columbus and Lexington. The Rising Sun's current problem, is that the Lawrenceburg casino, which I brought to Argosy, provided a great deal of overflow business on evenings and weekends; until Ohio finally approved casinos riverboats and slots at tracks, and cut Argosy's win from $480 million to less than $200 million; meaning no problem getting onto the Argosy boat. Dan is correct, that there are many sites in Indiana that, today, would be far superior that Rising Sun; but in hindsight, there was, and still is, very little population near the site. Maybe the proposed ferry and new RV park will add to the current level of business; but nothing is going to replace the lost Cincinnati customer.