*Blog postings do not necessarily reflect the views of Fantini Research

By Steve Norton
CEO, Norton Management

The New Gold Rush: Illinois Lawmakers Are Growing Worried as Neighbors Move to Expand Gambling

My comment:

Illinois should be concerned what the impact of gaming expansion in neighboring states might have on their own industry, but they should look first at how they helped destroy their own casino riverboat industry.

I was in Illinois to help draft the application of the first riverboat company, and later came back on weekends from my Nevada COO job to help the Gaming Commission prepare their casino rules and regulations, and then open the first Illinois casino in Alton. The original tax was 20% on casino win and $3 for each admission.

The new MGM casino in Springfield, Massachusetts, is the primary reason for the fiscal first-half 6.3 percent EBITDA decline, Foxwoods said.

EBITDA fell 21.6 percent in the second quarter as net revenues fell 6.9 percent and margins fell 3 points to 15.7 percent. This was partially offset by a 3.6 percent decline in operating costs.

Table drop fell 11.1 percent to $241.186 million in the quarter and slot handle 7.2 percent to $1.280 billion. Table hold rose 0.66 points to 18.3 percent.

RevPAR fell 5 percent in the quarter to $85. Occupancy rate was 90.5 percent, down 0.9 points.

By Steve Norton
CEO, Norton Management

Developer Gets OK to Build Luxury Majestic Las Vegas Near Strip

My comment:

A non-casino, deluxe hotel next to the new Las Vegas Convention Center expansion is good news for the convention and trade show events coming to the Strip in Las Vegas. But, I can't see any way that a 720

By Steve Norton
CEO, Norton Management

Are There Enough Gamblers to Keep Bay State Casinos in Business?

My comment: 

After a close examination of the demographics, tax rates, nearby competition and facility amenities, I find it likely that Boston Encore will produce the highest gaming revenues of any North American commercial casino. There are several tribal casinos that exceed a billion dollars in casino win, but I can't find one commercial property that even reaches $800 million.

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