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

By Steve Norton
CEO, Norton Management

Florida has a Gambling Problem and DeSantis Should Admit It

My comment:

When we passed the Casino Control Act (1977), in New Jersey, all casino advertising had to include the words "Bet With Your Head Not Over It”, suggested by Dick Codey (later Governor), whose Legislative Committee drafted the bill. As the casino operator, working with the Legislature, I was able to include a ban on marketing or advertising "highest payback percentage" or "loosest slots", or any reference to "best odds".

Like many other states, Florida’s lottery was presented to the voters as a way to help education, but many, including Florida, just replaced educational funds in the budget, with revenue from the lottery. And most states will admit, that the highest lottery spending (per capita), and the greatest concentration of ticket sales outlets are found in the lower income neighborhoods. And a few years ago, the Illinois Lottery had billboards in Chicago neighborhoods, that highlighted "Your Ticket Out". Out of the slums, substandard housing or inferior schools???

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.

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.

By Steve Norton
CEO, Norton Management

Chicago Mega-Casino in the Cards? Sen. Link Says Gambling Bill Could Add Casinos, Video Gaming Across State

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.

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