RSS Feed for this Blog

Thursday, April 10, 2014

Casino Bids All in the Details

Michael DeMasi writes in the Albany Business Review of the rather exacting demands of the casino application process.  Beyond the license fees of $20 to $70 million. 

165 different pieces of information, or "exhibits," including a business plan; market analysis; capital and financing structure; marketing plans; infrastructure requirements; internal controls and security systems; player database and loyalty program; construction timeline, affirmative action plan; and experience hiring the unemployed.
Well, that actually all starts like pretty basic information.  But you can read all of the 165 required pieces of information in the Table of Contents of the RFA itself here. Some of it is indeed pretty meticulous!
Submit  as  Exhibit  VIII.  C.7.a. - a  description  of  the  proposed  hotel(s),  including  the  types  of  rooms,  the  numbers  and  proposed  square  footage  of  each  type  of  room  at  full  build-out  and  for  each  phase,  if  applicable.    Describe  the  level  of  service  and,  if  known,  the  flag  or  brand  of  the  proposed  hotel.    If  more  than  one  level  of  service  and/or  flag  or  brand  is  intended,  describe  each  level  of  service  and/or  flag  or  brand  and  how  they  will  be  developed,  operated,  and  marketed  separately  but  may  be  operationally  combined. Provide  copies  of  any  arrangements  or  agreements  relating  to  branding,  franchising  and  hotel  loyalty  or  patronage  programs  planned  in  connection  to  the  proposed  hotel(s)  that  are  different  from  the  Applicant’s  or  the  Manager’s  branding  and  customer  loyalty  or  patronage  programs.
As gaming consultant John Boyd told DeMasi: "Unfortunately, for the casino operators--fortunately for the lawyers and regulators--this process will be longer in duration and much more expensive than it should be."  That could also be fortunate for the existing racinos, should the governor strongly suggest to his cronies who make up 2/3rds of the siting board that he wants the revenue flowing in as soon as possible; March of next year is the goal in his budget.  And a Gaming Commission spokesman confirmed: "New York's turnaround time--soup to nuts--will be under a year." While Empire Resorts and, perhaps, the Saratoga harness track, will be building new facilities, both could temporarily host table games at their existing facilities until the new ones are ready. 

 - According to a report by the New York State Commission of Public Ethics, Genting ranked 7th on the list of most money spent on lobbyists, with $1,368,500.

1 Comment:

UberZen said...

Joaca acum gratis
Sizzling Hott
de pe calculator.
Sizzling Hot Deluxe Kostenlos