A 453-page casino-enabling bill in the Florida state Senate just got a bit longer when Sen. Maria Sachs added language that would enable six additional counties (Palm Beach, Gadsden, Washington, Lee, Hamilton and Brevard) to have slots at their parimutuels. All the affected counties have approved slots in nonbinding referendums. Sachs hopes to recaptured revenue that’s migrating to parimutuels in Broward County, such as Isle Casino & Racing, in Pompano Beach. The existing bill already contains several enticements for the industry, including a less-punitive tax rate (15%, down from 35%) and full Class-III gambling for the private sector … which would put the latter one up on the Seminole Tribe, which lacks certain table games. No word on how that might complicate Gov. Rick Scott‘s newly announced compact talks with the Seminoles.
Meanwhile, House Speaker Will Weatherford is regarding the Senate’s efforts with imperial detachment, proposing that any further change in gambling be subject to constitutional amendment.
A ways back, I read some industry tout predicting that the Manila casino market would someday soon outdraw Macao. Now we’re coming off a year in which Macao grossed $45 billion and the Philippines took in … a tenth of that. Not quite close, I’d say. Filipino casino revenue is projected to grow to all of $7 billion (in five years). Macao must be quaking in its boots.
Being in Macao is especially good for Sheldon Adelson, Forbes‘ third-richest man in the world, at $38 billion, making $32 million a day. It wasn’t bad for Galaxy Entertainment Chairman Lui Che Woo (#28) or Wynn Resorts CEO Steve Wynn (#628), worth $22 billion and $3.8 billion, respectively.
Hard Rock Atlantic City? It looks like a serious prospect, now that the Seminole Tribe has filed for a statement of compliance from the State of New Jersey. The statement opens the door for the Division of Gaming Enforcement to investigate the Seminoles. Lord knows, tribal acquisition target Revel could use the Hard Rock brand (and all that comes with it) to achieve the sought-after cachet that has so far eluded it. Meanwhile, racino legalization continues to creep up on the Boardwalk.
Fast track to Vegas? A proposed link between Las Vegas and Phoenix, the would-be Interstate 11, took a step forward this week. The pro-environment Sonoran Institute gave the project a thumbs up, writing, “The I-11 corridor, in its broadest sense — including the successful integration of multiple modes including utilities, rail, and highway infrastructure — presents an incredible chance to capture new economic opportunities and define a new approach to infrastructure development.” (The Sierra Club, however, remains opposed to I-11.)
Although it would amalgamate parts of three existing highways, the I-11 project is described as decades from completion. Millions of dollars of additional studies still lie ahead. The Sonoran Institute “suggested that suitable land within 20 miles of the proposed route could generate enough electricity from solar panels to power 62 million homes.” That puts the institute on the same footing as Arizona Gov. Jan Brewer (R) … and could someday halve the travel time between two great desert cities.
Agreed! Revel could really use the Hard Rock branding and such and such.