Florida gaming industry booming

The winter season continually produces the best gaming revenue since inception, these numbers and projections are from only two of Florida’s 67 counties where casino gaming is legal.

The addition of the casino at Hialeah race track provides a pivotal role in this increase. The added destination for players in the central Dade location immediately produced terrific business; however, even without Hialeah’s over us$22 million for its brief five months of operation, the overall NSR is still up 8.8%. The other three racino properties most affected by Hialeah are also up and most probably would have delivered even larger increases.

A look at the individual properties for the six month period follows monthly trends with Isle at Pompano continuing to dominate the gaming marketplace, finishing up 12.2% and NSR over us$ 63 million. Casino Miami Jai Alai was up 9.2% followed by Gulfstream, 9.2%; Calder, 7.9%; Magic City (Flagler), 6.7% and Mardi Gras (Hollywood) up 4.5%.

Each venue enjoyed increased business from the previous month except Hialeah, which we think is partially due to the slowing visits of curious one-timers. Tallahassee prelim legislative chatter remains quiet on the gambling front, especially in light of the expected maelstrom over increasing/modifying/regulating the industry.

The Seminole Tribe plays a key role in any changes forthcoming and begs the question whether the majority conservative legislators will gamble on rejecting the tribal guaranteed compact money in favor of destination resort casinos, table games or deregulation at current racinos and/or the inevitable addition of new slot parlors statewide.

At a debate sponsored by the League of Women Voters in (unfriendly to gaming) Orange County (Orlando), gambling industry consultant Michael Soll countered the usual (crime/social degradation/non-family-friendly, etc.) arguments for expansion. He also conceded Florida is likely to yield to “casino creep;” however, he was quick to note the greater Orlando area with Disney Corporate disdain for any gambling would probably never be a candidate for any casino…nor would any other Florida community that clearly opposed it.

Odds N’Ends: Tampa Bay Downs is planning a repeat of its current racing schedule in 2014 with 91 race days. The Blood-Horse reports Hialeah Park’s preliminary racing dates filing for the 12 months beginning in July calls for another three-month, 40-date live season of Quarter Horse racing, without a return of Thoroughbreds.

The Miami Herald reported Genting’s casino ferry between Miami and Bimini may be running out of gas. The go-fast ship took gamblers to international waters and to their new casino in the small Bahaman island. The company poured heavy ad dollars into the project.

The main problem: the ferry could not tie up to the casino dock due to shallow waters, so passengers had to be “tendered” from the main ship to the island. The time consuming maneuver was not a favorite of the gamblers and heavy seas caused numerous cancellations. Construction of a satisfactory pier in Bimini on Genting’s dime has been delayed and now is getting heat from environmentalists.

The 25-year-old Florida Lottery is reporting another record year projecting $5.1 billion for the current fiscal year, which would yield an additional $1.43 billion for state educational coffers – its sole mission. Scratch offs were once again the sales leader, but the addition of Mega Millions to the long successful Powerball multi-state lottery also contributed to sustained player interest.

Gulfstream’s Sunshine Millions went off with several races featuring only 7 horse fields. Mucho Macho Man (Gary Stevens) vs. a field of 5 allowance horses in the Classic won by a tidy 14 lengths.