RubinBrown Gaming Stats 2014

Kansas Kansas Star Casino to build convention center. In addition to the casino’s original plan to build a 20,000 square foot equestrian practice arena, they will build a 10,000 square foot convention center with construction beginning in early 2014. Gaming in southeast Kansas gets a second chance. In April 2014, Kansas lowered the minimum investment for the southeast Kansas license from $250 million to $50 million (plus a $5.5 million application fee). The lowered minimum investment brings new hopes for a commercial casino development which was stalled after the opening of the Quapaw Nation’s Downstream Resort and Casino, located along the Kansas, Oklahoma and Missouri borders. Louisiana Baton Rouge’s Hollywood Casino to reduce workforce. The Louisiana Gaming Control Board approved the casino’s plan to reduce their staff from 525 to 450 employees. The casino claimed the need to reduce the number of employees was due to the opening of Pinnacle Entertainment’s L’Auberge Casino in 2012.

Maine The Oxford Casino completes expansion. Announced shortly after the casino was purchased by Kentucky-based Churchill Downs Inc. for $160 million, the $3.2 million expansion adds 22,000 square feet, 58 slot machines and 4 table games to the casino. Two of the tables being added will be away from the central gaming pit and reserved for high-stakes games. Maryland MGM awarded Maryland’s sixth and final casino license. On December 20, 2013, the Maryland Video Lottery Facility Location Commission voted 5 to 2 to award the license to MGM. MGM plans to build a $925 million casino complex at National Harbor in Prince George’s County. The property is slated to open in mid 2016 and will feature 3,600 slot machines, 140 table games, a concert theater and a 300 suite hotel. Michigan Detroit’s losing streak continues in 2013. Revenues for Detroit’s three commercial casinos declined another 4.8% or $67.32 million in 2013. While weather is a common excuse for revenue declines, increased competition from the Hollywood Casino in Toledo, Ohio proved to be the most significant factor.

Mississippi Proposal for Rotate Black’s casino is approved by the Mississippi Gaming Commission. Once completed, the $130 million casino will boast a 35,000 square foot gaming floor and a 205 room hotel. The proposal was revised several times in order to meet the Mississippi Gaming Commission’s requirements and was approved just before the new 2014 requirements would have been mandatory. Twin River Worldwide Holdings to buy the Hard Rock Hotel & Casino Biloxi. The Rhode Island based company is expected to complete the $250 million sale from Premier Entertainment Biloxi LLC in June 2014. The casino has 1,300 slot machines, 50 table games, and a hotel. Missouri Pinnacle sells Lumiere Place Casino in St. Louis to Tropicana Entertainment for $260 million. The FTC required this ownership shuffle to improve competition in the region following Pinnacle’s purchase of Ameristar. Without the FTC’s intervention, Pinnacle Entertainment would have owned three of the six casinos, generating 59.4% of the gaming revenues, in the St. Louis market.

2014 Commercial & Tribal Gaming Stats | 11

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