p10 Stateside 26/6/09 08:25 Page 12
STATESIDE
Stateside
Sharon Harris tells the naysayers to “get a grip”…
W
hile I learned a lot of industry professionals label gaming as a “must” to make
information at the recent East traveling more appealing. Three-quarters of the
Coast Gaming Conference, it was public and travel industry insiders agree that casino
also a fascinating lesson in destination tourists also patronize other attractions,
psychology. For those who have dining and shopping outlets while visiting.
been in therapy, it was a “shrink’s” dream scenario. The survey provides invaluable insights. How
Several hundred visitors traveled to Atlantic City should operators, responsible for thousands of jobs
from Florida up through New England. The tone of and multi-billion dollar properties, use that
the speakers’ presentations and the attendees’ information while directing their individual
conversation divided the audience into two camps: companies? My advice; always promote the good by
the optimists, or “glass half full” types, and the devising unique ways to create a new environment.
pessimists, or “glass half empty” personalities. Shareholders should demand innovative talent in
In other words, the positive thinkers stated they return for high salaries.
view the current economic conditions as an Savvy executives must highlight the best of their
opportunity to dramatically recreate the gaming regions. For example, Las Vegas can promote its
marketplace. Revising casino construction projects in excitement and good weather. Reno and Lake Tahoe
a fiscally responsible way will still ensure quality in northern Nevada can market the gorgeous scenery
while offering a fresh look. Employing new marketing and skiing. Atlantic City has the beach, ocean and its
and public relations strategies may expand new renowned Boardwalk. Access to Atlantic City
customer groups in the long term. As a truly bold continues to improve via added air and train service.
step, some advocated demolishing the old and worn Other regional jurisdictions like Pennsylvania and
Can these people
down neighborhoods to build newer, more robust the Midwest riverboat states offer convenience for
gaming destinations. shorter excursions. Rebuilding after Hurricane
be the
The “doom and gloom” crowd moaned and groaned Katrina, the Mississippi Gulf Coast casinos sparkle.
cheerleaders their
as they try to ride out the recession. They survive on Each gaming location has its pros and cons. However,
the hope that gaming will return to its former glory they all offer unique experiences.
organizations
days. For me, this negativity proved depressing and Smart casino operators will take advantage of the
need at this time?
counterproductive. Can these people be the public’s continued strong support. Even Donald
cheerleaders their organizations need at this time? Trump, an Atlantic City fixture and gaming’s
The American Gaming Association (AGA) recently “Believer-in-Chief”, may want to roll the dice again in
released its 2009 State of the States survey of casino Atlantic City. He first entered the New Jersey market
entertainment. Always an eye opener, this year’s two decades ago.
overview is even more compelling. Its data reflects In February 2009, “The Donald” resigned as
only 2008; conditions have clearly worsened in the chairman of Trump Entertainment Resorts Inc.,
first half of 2009. following a dispute with corporate bondholders who
Those who argue that gaming hurts a state’s welfare rejected his request to take the company private.
more than it helps should analyze the annual tax Trump Entertainment filed for Chapter 11
revenues. When conditions “go south”, everyone loses. bankruptcy protection that same month, aiming to
Of the 12 commercial gaming states, only five had restructure $1.7 billion in debt.
higher tax revenues in 2008 than in 2007. New bankruptcy documents reveal an alliance
Obviously, those figures are proportionate to between Trump and a bank to bid on acquiring the
consumer spending on gaming, but states should do company. He may face competing potential suitors that
everything possible to help casinos achieve and include the bondholders themselves, the company’s
maintain profitability. In addition to lost gaming management or a separate entity for the properties.
taxes, employee payroll taxes decline with every layoff. To his credit, Trump demonstrates an unwavering
Even more sobering are the benefit decreases that spirit. Others like him also project great resolve.
result from lower gaming taxes, such as senior Gaming needs determined positive leaders in today’s
services or education. environment. So, naysayers, get a grip, suck it up and
The survey claims 65% of the public believes the show some grit for this great business. Deals are being
casino industry is valuable to American travel and made every day, everywhere. Take heart, we’ll get
tourism. A whopping 84% of travel and tourism through these tough days and emerge better for it.
10 JULY/AUGUST 2009
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