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Wells Gaming ppt 2010 Wells Gaming ppt 2010 Presentation Transcript

  • South Central Gaming Zone Prepared For:Kansas Lottery Gaming Facility Review Board Meeting December 1, 2010 Wells Gaming Research
  • Methodology• Customized WGR’s proprietary gravity models• Tested and calibrated models on casino markets in MO, OK, & KS where actual or highly reliable estimates of gaming revenues were available• Updated population data at census tract level for 2000 and 2009 thru 2017 for the trade area• Defined and ran 5 scenarios for Kansas Star and 6 scenarios for WinSpirit to evaluate build out phases and impact of Wyandotte casinoDecember 1, 2010 Wells Gaming Research 1
  • SC Kansas Trade Area• Trade area is slightly more than a 100-mile radius to the north, extending 150 miles south (OKC) and 140 miles southeast (TUL)• Includes 32 counties in Kansas, 21 counties in Oklahoma, and 850 census tracts• Total population is 3,032,068; of which 2,098,260 are adults• Of the adult population, 455,119 (22%) live in Sumner County and the seven contiguous counties, 1,396,778 (67%) live in OklahomaDecember 1, 2010 Wells Gaming Research 2
  • SC Kansas Trade Area MapDecember 1, 2010 Wells Gaming Research 3
  • December 1, 2010 Wells Gaming Research 4
  • Existing and Planned Casinos• Existing competition includes 1 casino in Kansas and 62 casinos in Oklahoma• Total existing capacity: 37,237 slots, 338 pit tables, 170 poker tables, 817 hotel rooms• Expansions at Boot Hill Casino (291 slots, 3 pit tables, 19,776 sq. ft. convention, 108 rooms, 1 restaurant and 2 entertainment venues)• Expansions at First Council Casino (88 rooms and an events center) and Lucky Star Casino in Concho (600 slots)• Planned casino in Chilocco (300 slots, 1 food & bev)December 1, 2010 Wells Gaming Research 5
  • Global Gaming’s WinSpirit
  • Capacities and Amenities FBO WinSpirit Phase 1a Phase 1b Phase 1c 2016 - 2024 Years 2012 2014 2016 2016 Casino: Square Footage 72,979 72,979 72,979 72,979 Slots Machines 1,300 1,550 1,800 2,000 Table Games 30 40 40 40 Poker Tables 20 20 20 20 Restaurants & Bar / Lounges: # of Restaurants 2 2 2 4 # of Bar / Lounges 3 3 3 3 Event / Convention Center: # of Seats 1,400 1,400 1,400 1,400 Hotel: # of Rooms 80 80 80 200 Travel Plaza: # of Fueling Positions 0 12 12 12 Parking: # of Spaces 2,357 2,357 2,357 3,323 RV Park: # of Spaces 0 0 0 90December 1, 2010 Wells Gaming Research 7
  • Gaming Revenue Projections Phase 1a Phase 1b Phase 1c Full Build Out WinSpirit 2012 2014 2016 2016Global Gaming Projections: 1/2 year 2016 - 2024 Residential $53,043,900 $118,328,700 $130,569,600 N/A Tourist $10,217,500 $22,110,000 $25,125,000 N/A Total $63,261,400 $140,438,700 $155,694,600 N/AWGR Projections : Trade Area $45,102,500 $103,654,000 $115,162,000 $130,048,000 Incremental from Travel Plaza $0 $5,031,160 $5,337,558 $5,337,558 Total $45,102,500 $108,685,160 $120,499,558 $135,385,558 Difference - Global Gaming vs WGR $18,158,900 $31,753,540 $35,195,042 N/A % Difference 29% 23% 23% N/AImpact of the Wyandotte Phase 1: 1,000 slots 1,000 slots 1,000 slots 1,000 slots With Wyandotte Tribe Casino $34,908,000 $86,705,160 $96,961,558 $112,832,558 Impact -$10,194,500 -$21,980,000 -$23,538,000 -$22,553,000 % Impact -23% -20% -20% -17%Impact of the Wyandotte FBO: 1,000 slots 1,000 slots m irror WinSpirit m irror WinSpirit With Wyandotte Tribe Casino $34,908,000 $86,705,160 $71,094,558 $77,063,558 Impact -$10,194,500 -$21,980,000 -$49,405,000 -$58,322,000 % Impact -23% -20% -41% -43%December 1, 2010 Wells Gaming Research 8
  • Gaming Visit Projections Phase 1a Phase 1b Phase 1c Full Build Out WinSpirit 2012 2014 2016 2016Global Gaming Projections: 1/2 year 2016 - 2024 Residential 845,224 1,822,271 2,028,148 N/A Tourist 161,572 360,567 401,304 N/A Total 1,006,796 2,182,838 2,429,452 N/AWGR Projections : Trade Area 609,194 1,318,865 1,380,775 1,558,256 Incremental from Travel Plaza 0 100,623 100,623 100,623 Total 609,194 1,419,488 1,481,398 1,658,879 Difference - Global Gaming vs WGR 397,603 763,350 948,054 N/A % Difference 39% 35% 39% N/AImpact of the Wyandotte Phase 1: 1,000 slots 1,000 slots 1,000 slots 1,000 slots With Wyandotte Tribe Casino 493,470 1,188,578 1,251,051 1,449,656 Impact -115,724 -230,910 -230,347 -209,223 % Impact -19% -16% -16% -13%Impact of the Wyandotte FBO: 1,000 slots 1,000 slots m irror WinSpirit m irror WinSpirit With Wyandotte Tribe Casino 493,470 1,188,578 922,769 996,133 Impact -115,724 -230,910 -558,629 -662,746 % Impact -19% -16% -38% -40%December 1, 2010 Wells Gaming Research 9
  • Peninsula Gaming’s Kansas Star
  • Capacities and Amenities Kansas Star Phase 1a Phase 1b FBO Years 2012 2014 2016 Casino: Square Footage 44,100 47,200 63,700 Slots Machines 1,310 1,500 2,000 Table Games 32 42 50 Poker Tables 0 10 10 Restaurants & Bar / Lounges: # of Restaurants 2 3 3 # of Bar / Lounges 1 2 2 Event / Convention Center: # of Seats 0 3,000 3,000 Hotel: # of Rooms 0 150 300 Parking: # of Spaces 1,820 2,520 3,965 RV Park: # of Spaces 0 20 90December 1, 2010 Wells Gaming Research 11
  • Gaming Revenue Projections Phase 1a Phase 1b Full Build Out Kansas Star 2012 2014 2016Peninsula Gaming Projections: Full Year Residential $112,900,817 $146,229,083 $174,104,835 Tourist $6,007,106 $19,583,472 $28,237,904 Total $118,907,923 $165,812,555 $202,342,739WGR Projections : Trade Area $132,614,000 $176,228,000 $206,167,000 Incremental from Equine Events $0 $2,455,731 $3,016,759 Total $132,614,000 $178,683,731 $209,183,759 Difference - Peninsula Gaming vs WGR -$13,706,077 -$12,871,176 -$6,841,020 % Difference -12% -8% -3%Impact of the Wyandotte Phase 1: 1,000 slots 1,000 slots 1,000 slots With Wyandotte Tribe Casino $92,030,000 $138,977,731 $171,624,759 Impact -$40,584,000 -$39,706,000 -$37,559,000 % Impact -31% -22% -18%Impact of the Wyandotte FBO: 1,000 slots 1,000 slots m irror Kansas Star With Wyandotte Tribe Casino $92,030,000 $138,977,731 $123,326,759 Impact -$40,584,000 -$39,706,000 -$85,857,000 % Impact -31% -22% -41% Gaming revenue for alternate site estimated at 2% to 4% less than primary siteDecember 1, 2010 Wells Gaming Research 12
  • Gaming Visit Projections Phase 1a Phase 1b Full Build Out Kansas Star 2012 2014 2016Peninsula Gaming Projections: Ful Year Residential 1,727,792 2,132,782 2,407,199 Tourist 99,911 169,012 240,461 Total 1,827,703 2,301,794 2,647,660WGR Projections : Trade Area 1,878,740 2,344,040 2,580,203 Incremental from Equine Events 0 33,640 39,179 Total 1,878,740 2,377,680 2,619,382 Difference - Peninsula Gaming vs WGR -51,037 -75,886 28,278 % Difference -3% -3% 1%Impact of the Wyandotte Phase 1: 1,000 slots 1,000 slots 1,000 slots With Wyandotte Tribe Casino 1,324,033 1,879,085 2,184,432 Impact -554,707 -498,595 -434,950 % Impact -30% -21% -17%Impact of the Wyandotte FBO: 1,000 slots 1,000 slots m irror Kansas Star With Wyandotte Tribe Casino 1,324,033 1,879,085 1,566,606 Impact -554,707 -498,595 -1,052,776 % Impact -30% -21% -40% Casino visits for alternate site estimated at 2% to 4% less than primary siteDecember 1, 2010 Wells Gaming Research 13
  • Global’s WinSpirit vsPeninsula’s Kansas Star
  • Capacities and Amenities WinSpirit Kansas Star Phase 1a Phase 1c FBO Phase 1a FBO Capacities & Amenities 2012 2016 2016 - 2024 2012 2016 Casino: Square Footage 72,979 72,979 72,979 44,100 63,700 Slots Machines 1,300 1,800 2,000 1,310 2,000 Table Games 30 40 40 32 50 Poker Tables 20 20 20 0 10 Restaurants & Bar / Lounges: # of Restaurants 2 2 4 2 3 # of Bar / Lounges 3 3 3 1 2 Event / Convention Center: # of Seats 1,400 1,400 1,400 0 3,000 Hotel: # of Rooms 80 80 200 0 300 Travel Plaza: # of Fueling Positions 0 12 12 0 3965 Parking: # of Spaces 2,357 2,357 3,323 1,820 90 RV Park: # of Spaces 0 0 90 0 100December 1, 2010 Wells Gaming Research 15
  • Gaming Revenue Projections 2012 2014 2016 Kansas WinSprit Star Kansas Kansas Revenue Projections Phase 1a Phase 1a WinSprit Star WinSprit Star (in thousands) (1/2 Year) (Full Year) Difference Phase 1b Phase 1b Difference Phase 1c FBO DifferenceApplicants $63,261 $118,908 $55,647 $140,439 $165,813 $25,374 $155,695 $202,343 $46,648Wells Gaming Research $45,103 $132,614 $87,512 $108,685 $178,684 $69,999 $120,500 $209,184 $88,684Dif - Applicant vs WGR $18,159 -$13,706 -$31,865 $31,754 -$12,871 -$44,625 $35,195 -$6,841 -$42,036% Difference 29% -12% -57% 23% -8% -176% 23% -3% -90% Net Revenue with Wyandotte (WGRs Projections) $34,908 $92,030 $57,122 $86,705 $138,978 $52,273 $71,095 $123,327 $52,232Impact of the Wyandotte Casino -$10,195 -$40,584 -$30,390 -$21,980 -$39,706 -$17,726 -$49,405 -$85,857 -$36,452% of Impact -23% -31% -35% -20% -22% -25% -41% -41% -41%Wyandotte Casino Assumption 1,000 Slots 1,000 Slots 1,000 Slots 1,000 Slots mirror mirror December 1, 2010 Wells Gaming Research 16
  • Gaming Revenue Projections 2016 WinSprit Revenue Projections FBO Kansas Star (in thousands) (2016 - 2024) FBO Difference Applicants N/A $202,343 N/A Wells Gaming Research $135,386 $209,184 $73,798 Dif - Applicant vs WGR N/A -$6,841 N/A % Difference N/A -3% N/A Net Revenue with Wyandotte (WGRs Projections) $77,064 $123,327 $46,263 Impact of the Wyandotte Casino -$58,322 -$85,857 -$27,535 % of Impact -43% -41% -37% Wyandotte Casino Assumption mirror mirrorDecember 1, 2010 Wells Gaming Research 17
  • Gaming Visit Projections 2012 2014 2016 Kansas WinSprit Star Kansas Kansas Phase 1a Phase 1a WinSprit Star WinSprit Star Visit Projections (1/2 Year) (Full Year) Difference Phase 1b Phase 1b Difference Phase 1c FBO DifferenceApplicants 1,006,796 1,827,703 820,907 2,182,838 2,301,794 118,956 2,429,452 2,647,660 218,208Wells Gaming Research 609,194 1,878,740 1,269,547 1,419,488 2,377,680 958,192 1,481,398 2,619,382 1,137,984Dif - Applicant vs WGR 397,603 -51,037 -448,640 763,350 -75,886 -839,236 948,054 28,278 -919,776% Difference 39% -3% -55% 35% -3% -706% 39% 1% -422% Net Visits with Wyandotte (WGRs Projections) 493,470 1,324,033 830,564 1,188,578 1,879,085 690,507 922,769 1,566,606 643,837Impact of the Wyandotte Casino -115,724 -554,707 -438,983 -230,910 -498,595 -267,685 -558,629 -1,052,776 -494,147% of Impact -19% -30% -35% -16% -21% -28% -38% -40% -43%Wyandotte Casino Assumption 1,000 Slots 1,000 Slots 1,000 Slots 1,000 Slots mirror mirror December 1, 2010 Wells Gaming Research 18
  • Gaming Visit Projections 2016 WinSprit FBO Kansas Star Visit Projections (2016 - 2024) FBO Difference Applicants N/A 2,647,660 N/A Wells Gaming Research 1,658,879 2,619,382 960,503 Dif - Applicant vs WGR N/A 28,278 N/A % Difference N/A 1% N/A Net Visits with Wyandotte (WGRs Projections) 996,133 1,566,606 570,473 Impact of the Wyandotte Casino -662,746 -1,052,776 -390,030 % of Impact -40% -40% -41% Wyandotte Casino Assumption mirror mirrorDecember 1, 2010 Wells Gaming Research 19
  • Richard H. Wells, Experience & QualificationsWells is founder and president of WellsGaming Research, a Nevada Corporation thatprovides Casino Player Count ServiceŖ, amarket share tracking service to clients for 335casinos in Nevada, Mississippi, Louisiana,New Mexico, California, and Asia.Wells Gaming Research also performs a widerange of consulting and gaming researchassignments including casino market studies,financial feasibility studies, financialprojections, due d iligence, litigation support,legislative issue support, and gaming industryexpert witness services for the gamingindustry.Wells has fifteen years experience as a senior executive in the casino-hotel industrywith Holiday Inns, HarrahÕs, and BallyÕs Wells has also held positions in .management, planning, and financial analysis for a large regional bank and a majorinternational oil company.Wells has a B.S. degree in business from Oklahoma State University and completeda post-graduate program in Systems Dynamics at M.I.T. Wells has participated in awide range of community service activities and is listed in Marquis WhoÕsWho inFinance and Industry and Marquis Whos Who in America.