By E. Malcolm Greenlees
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Additional info for Casino Accounting and Financial Management: Second Edition
Table game win per unit is not presented. Second, tribal casinos in a variety of states are not required to report win per unit, so this information is not uniformly collected and reported. Where this data has been estimated, it is indicated on the table. In reviewing the slot data, it is apparent that the nature of the market and location seem to be the most important criteria. Detroit and Connecticut’s average slot win per day exceeds $300. This clearly reflects monopoly revenues from the slot machines.
Managed Competition: The managed-competition model is used in markets such as New Jersey, Detroit, and to some degree, Louisiana. This is also the model adopted by other riverboat states such as Iowa, Illinois, Indiana, and Missouri. In this situation, the state limits the number of casino operations both by number and by geographic location. The result of this managed competition is an oligopoly of a small number of firms and enhanced profitability. In exchange for this grant of limited competition, the state usually insists on a somewhat higher level of both taxation and regulation than might occur in states with more open competition.
Since their openings in 1999 and 2000, the casinos have enjoyed monopoly revenues and extraordinary growth in their early years. Colorado: Colorado state has chosen unique locations for its casino gaming. The gaming in Colorado is limited to the three former mining towns of Central City, Black Hawk, and Cripple Creek in the mountain areas northwest of Denver. The casinos have been established since 1991, and operate mostly in renovated historical structures. Even with the proximity to Denver, the casinos have difficult access problems from poor roads and bad winter weather.