Studies Disagree Over the Amount of Money That a Destination Casino in Kansas Would Make
As of May 5, 2007, studies that have been made in a casino facility in Southeast Kansas agree that the casino would make some profit but disagree on how much cash it would produce for the area.
William Thompson, a Gambling Researcher and Professor of Public Administration from the University of Nevada at Las Vegas, commented that the real economic effect is attracting visitors from outside of the state. If that is the main reason, then the casino would be a great effect on Southeast Kansas and Southwest Missouri.
Thompson said if it will be a tourist casino establishment, then the state of Missouri could greatly benefit from it. It's going to be a great hinder for both parties if the customers will be living within the 75 mile radius.
The majority of the players must be living outside of the area. If all of the money coming in is from local customers, then you might as well give out free cash to Topeka. Thompson sponsored one of the studies conducted regarding the effect of the gambling casino in the area and has told the Kansas Legislature about the findings.
The study also stated that the Cherokee County Resort Casino Facility would produce around a total of $225 million in yearly revenue. The estimate was based on the 309,305 customers that are living in the area within the radius of 50 miles of the Cherokee County Casino and makes an average of 2-4 visits annually, spending around $75 per visit at the casino.
The study was also based on the 1.3 million adults that live within 50-100 miles and are visiting the casinos at the same rate. Thompson also estimates that around 41% of the profits will come from customers living within 50 miles of the casino and the 59% of revenue will be coming from people that live farther away from the casino.
The study commissioned by Thompson is the same with the study made by GVA Marquette Advisors for the Kansans for Economic Growth, a casino supporter. The study estimates that the casino will produce a total of $226 million in the first year of operation, increasing up to $263 million for the first 5 years of operation.
06/19/2007 21:55 PM
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