RubinBrown Gaming Stats 2010

Regional Comparision – continued

Detailed Analysis of Casinos

Illinois

Indiana

Iowa

Missouri

Number of Properties Casino Square Feet Average Square Feet

9

11

14

12

322,335 35,815

710,113 64,556

409,862 29,276

774,800 64,567

Average Number of Table Games

26

68

25

44

Average Number of EGDs

1,119

1,766

923

1,077

Effective Tax Rate*

34.67%

32.06%

21.94%

27.11%

*Effective tax rate accounts for adjustments to AGR, admission taxes, and graduated brackets.

Three Year Trend of Patrons by State

Regional gaming has benefited from the economic downturn as consumers spend less on travel. Patron attendance increased in 2009 for most Midwest states, with the exception of Illinois, which has been adversely effected by legislative acts and an increase in gaming in neighboring states. With regard to average casino square feet, note that both Missouri and Indiana are much larger than Illinois and Iowa. This is primarily due to the high number of table games in those states. Illinois possesses the highest casino win per patron at $99.10, while Iowa’s casino win per patron is 41% lower at $58.09. Overall, the outlook for future growth in the Midwest appears positive. As more states look to reduce deficits and gain tax revenue, it is anticipated that regional gaming will increase in future years.

30M

24M

18M

12M

6M

0

Illinois

Indiana

Iowa

Missouri

2007

2008

2009

Casino Win and Tax per Patron

$100

$40.00

$99.10

$89.98

$34.36

$67

$26.67

$28.85

$66.99

$58.09

$18.16

$33

$13.33

$12.74

$0

$0

Illinois

Indiana

Iowa

Missouri

Casino Win per Patron

Revenue Tax Incurred per Patron

5 | Raise Your Expectations