America's Casino-Saturation Problem

[OTABILL]

Not sure if this is the right category to put this in but this article discusses a nationwide issue.

America’s Casino-Saturation Problem

[DaBurglar]

Not sure if this is the right category to put this in but this article discusses a nationwide issue.

America’s Casino-Saturation ProblemAWESOME article!!!!!     Seriously, thank you for posting this, I would have been disappointed if I had missed this article, which clearly and convincingly articulates many of the points, arguments and observations that MANY of us here have been making over the past 4 plus years (i.e.  since the free fall in AC REALLY started to accelerate!)   This article should provide a lot of fuel and fodder for continued discussions and debates here on this site for the near future, plus I intend to utilize it to expand, clarify and renew many of the things I have said since I showed up on this forum (such as the disaster that Governor Christie  implemented and oversaw, and which now threatens any presidential ambitions he might have!)Again thanks!

[chattycattty]

Not sure if this is the right category to put this in but this article discusses a nationwide issue.

America’s Casino-Saturation Problem
Great article. It sums up the state of the casino industry today and explains why Vegas has been successful while others have failed. The fact that Vegas casinos banded together in their marketing efforts as opposed to bickering and being only concerned with the competition down the street as other gambling destinations have been guilty of doing.

The article covers much more than this but after reading it, that aspect of it left the biggest impression on me.

[Tedlark]

I read the article online this morning before logging onto this site and yes, the article was informative and well put together. I also read an article regarding the approval of a 2nd casino in Philadelphia and the efforts of a current Philadelphia casino to block a 2nd casino from their market.

I get the impression that, with Las Vegas being the exception, states are trying their best to keep local gamblers local and giving them reasons through more choices of where to play in state instead of them taking their gambling revenue out of state.

Illinois however appears to be bucking this tide because it seems that they don't care if gaming revenue is lost to casinos in neighboring states. So do we vote our Governor out of office simply because of his lack of being able to pull together a casino expansion package that would better serve the population of Illinois? We recently did in fact vote the incumbant out of office but casino gaming played no bearing on this change. My point here is that IF Governor Christie has Presidential aspirations my opinion is that whatever failure Atlantic City gaming has suffered as of late will have little bearing on his running for President. This is partially because brick and mortar casino gambling is still for the most part left up to local control by the Feds. Also there is still a majority of citizens who view gambling in a negative light.

[chattycattty]

You can stick a fork in Chris Christie's presidential aspirations.

[notes1]

Very good article, thanks. Much of what is stated in the article has been mentioned on this website before. Casinos are not being approved in states, as entertainment for citizens, but rather as a way to temporarily increase construction employment, followed by a couple of thousand full time jobs and most importantly as tax revenue. The entire process is controlled by the government and how many times have we seen government controlled ventures be well done? Not many. Just look at AC, where did all the money go that the government got.   I suggested previously, that what we need is a wal mart/costco approach to casinos. Forget the mega properties, with all the mega fixed costs. Provide a safe, clean envirement, where the gambler has a way to extend their play time, without busting their personal savings.  As i walk around the casino, i notice more folks playing less than max coins on every game. They have adjusted their bet to weaker economic times and reduced casino payouts. Either that or all of them are playing florida phils system.

[BillyJoe]

The other 'shoe to drop' is Internet Gaming. Already, Stations Casino in Nevada has pulled the plug on their Internet Gaming interests, as it is not feasible on a state-by-state platform.

At some point, we will have a NATIONAL Internet Gaming platform, allowing people in any state to select a gaming site to use, if they so choose.

I ask you - after playing on this 'free' site, would you trust it, should it become legal, as a 'pay' site for the same type of gaming? Think of the market penetration that this site would already have with it's established membership.   

When that occurs, brick and mortar gaming establishments will see additional competition, and only the strong will survive.

[DaBurglar]

regarding "where" all the money went that the STATE of  New jersey milked AC casinos out of in the form of taxes and fees since 1979:   it's simple......no matter what your political persuasion, Dem, Repug or other/indy, it is a well established truism that GOVERNMENT at all levels (loca, city, state or federal) will SPEND whatever it takes in (i.e. gets its hands on.)     Dems, Repubs, Indie etc  really ONLY disagree on WHAT government should spend it on (Do not believe that Democrats are only for spending on things that will HELP the poor, afflicted or downtrodden.......do not believe that republicans are for SMALLER government across the board and lower taxes for all.....do not believe that Democrats know more about domestic policy and republicans are better at foreign policy....this is all crapola/propaganda/etc)New jersey SPENT all the money sucked out of AC and south jersey toll booths on a myriad of projects and causes in NORTH JERSEY (i.e. where all the vast MAJORITY of voters reside)...... it really is that simple.    AC was the redheaded step child of New Jersey politics, but a stepchild with a LARGE piggy bank.     One huge advantage Vegas has over almost all other gaming markets which are typically built and developed where there are FEW people and where there is NOTHING else, is that VEGAS and nearby areas is where a decisive chunk of Nevada voters reside, so anything done to and on behalf of Vegas has direct impact on the voters.....not so with casinos built on empty swathes of land on the Gulf Coast or along the Mississippi or in some forgotten cornfield or empty lot in Indiana or Missouri or wherever.As for the internet and Billyjoe's point about whether people will trust it, sure they will but not without a lot of issues and problems rearing their heads that will require a HUGE amount of eventual regulation......at somepoint the federal government will have to establish some sort of bureau to deal with all that.....

[BillyJoe]

As for the internet and Billyjoe's point about whether people will trust it, sure they will but not without a lot of issues and problems rearing their heads that will require a HUGE amount of eventual regulation......at somepoint the federal government will have to establish some sort of bureau to deal with all that.....
Certainly no problem for the Feds there, DB. They have no issue with creating an additional department if there is enough money at stake. In this case, they will probably build a new building in DC to house it. (Wait - maybe they can run it out of the old Revel in AC?).

My vision for the future of Internet Gaming is there will be ONE national bank (BofA, Wells Fargo, Chase) that will be selected to handle all internet gaming accounts/transactions. The Feds will impose the regulations for its operation, and the IRS will have their siphon on all the accounts.

[ko king]

The other 'shoe to drop' is Internet Gaming. Already, Stations Casino in Nevada has pulled the plug on their Internet Gaming interests, as it is not feasible on a state-by-state platform.

At some point, we will have a NATIONAL Internet Gaming platform, allowing people in any state to select a gaming site to use, if they so choose.

I ask you - after playing on this 'free' site, would you trust it, should it become legal, as a 'pay' site for the same type of gaming? Think of the market penetration that this site would already have with it's established membership.   

When that occurs, brick and mortar gaming establishments will see additional competition, and only the strong will survive.

Maybe it's just me but I think gambling belongs in casinos not everyone's homes. Don't get me wrong because I love to play but I'm not sure I'd handle it well if it was that easy and convenient.