RubinBrown Gaming Stats 2014
Growth The Tulsa Region led all other NIGC regions producing the highest revenue growth rate of 6.6% in 2012. Furthermore, the growth in gaming revenues is considered organic growth, as the region has not seen an increase in the number of casinos since 2009. Challenges Market saturation and the expansion of commercial gaming are the most significant challenges facing tribes in the Tulsa Region. In April 2014, Kansas reduced the minimum investment requirement for a commercial casino in the Southeastern zone to $50 million, which would bring additional competition to the Northeastern Oklahoma tribes. In Arkansas, proposals to expand gaming beyond the “Electronic Games of Skill” continue to be debated in the state legislature. Opportunities Similar to the Oklahoma City Region, the opportunities for growth center around economic diversification in new industries and claiming market share through enhancements of existing facilities or aggressive marketing programs. Region Specific News The Delaware Tribe purchased an 87 acre tract of land near Lawrence, Kansas along Interstate 70. The tribe has not requested the land to be placed into federal trust and the tribe has not disclosed their plans for the land parcel. However, gaming opponents fear this could lead to a casino development. The United Keetoowah Band was forced to close the Keetoowah Cherokee Casino on August 30, 2013, after a lengthy and contentious legal battle with the Cherokee Nation. The casino was located on land that was never placed into trust. In 2012, the Bureau of Indian Affairs agreed to place the land into trust; however, the Cherokee Nation contested the decision in court. Upon closure of the casino, the Cherokee Nation offered to take on the former casino’s 150 employees. In October, the Muscogee (Creek) Nation broke ground on an expansion of its River Spirit Casino. The expansion is estimated to cost around $335 million and will include 50,000 feet of new gaming space, a 26-story hotel, a 30,000 square foot convention center, a new theater, as well as expanding the parking facility for an extra 1,500 cars.
2014 Commercial & Tribal Gaming Stats | 23
Made with FlippingBook Online newsletter