NEWH - May 2003 - (Page 23)
did you know?
Gambling actually relates back to antiquity?
the Chinese, Japanese, Greeks and Romans all were known
to play games of skill and chance as early as 2300 BC
Native Americans developed games and language describing
gambling and believed that their Gods determined fate and chance
in the early 17th century, prominent individuals such as Ben
Franklin, John Hancock and George Washington sponsored
lotteries in order to raise funds for building projects
Harvard, Dartmouth, Yale and Columbia University were
financed through early American lotteries
Sources: Mike Roberts, “The National Gambling Debate:
Two Defining Issues,”Whittier Law Review, vol. 8, no. 3, 1997;
Scarne’s New Complete Guide to Gambling; Encarta Online Encyclopedia
CASINOS
SUPPLY TRENDS SUMMARY
OPENINGS
2002
SUPPLY
At 4Q 02
DEVELOPMENT PIPELINE 1
Under
Starts Next
Early
Construction 12 Months
Planning
4Q
'02
SCHEDULED COMPLETIONS 2
2003
2004
2005 &
Beyond
BY REGION 3
New England/Mid Atlantic
South Atlantic
North Central
South Central
Mountain/Pacific
Total Casinos
4
1,652
492
393
863
1,835
12
5,235
2
2
2
2
4
165
16,694
1,044
11,260
20,574
124,744
297
174,316
19
4
65
44
3
3,156
900
2
1
750
3
1
1
2
1,285
396
2,057
10
4,538
5
1
5
265
4,614
13
8,935
1
800
2,654
150
2
400
1,350
633
4
3,133
8
4,717
802
750
258
265
1,913
7
2
3
2
1
7
2,075
2
1,250
4
5
2
1,427
1,746
5,391
15
9,814
4
1
Statistics in this chart represent the projects in the Development Pipeline as of December 31, 2002. Caution should be used when forecasting the number of projects that will actually come to fruition. Based on
historical experience, the attrition rate for projects scheduled to Start Next 12 Months can be up to 25% and the attrition rate for projects in Early Planning can be up to 60%. As successful projects move forward,
the number of planned rooms frequently decreases. During difficult financing periods, time lines can lengthen, too.
2
Scheduled Completions is not a forecast of all new openings in the years ahead. It is only an estimate of the likely flow of completed projects from the existing known Development Pipeline based on Developers'
present estimates of their projected timetables. The table does not account for project delays that frequently occur or projects that may be announced in the future, enter the pipeline and subsequently come
to fruition.
3
Definition of Regions: New England/Mid Atlantic: CT, MA, ME, NH, NJ, PA, RI, VT; South Atlantic: DC, DE, FL, GA, MD, NC, SC, VA, WV; North Central: IA, IL, IN, KS, MI, MN, MO, ND, NE, OH, SD, WI;
South Central: AL, AR, KY, LA, MS, OK, TN, TX; Mountain/Pacific: AK, AZ, CA, CO, HI, ID, MT, NM, NV, OR, UT, WA, WY.
Individual records are available for any line iteration. For more information, please contact Bruce Ford, VP of Sales, Lodging Econometrics, (603) 431-8740, ext. 18, or e-mail bford@lodging-econometrics.com.
© Lodging Econometrics, Inc., the industry authority for hotel real estate, Portsmouth, NH 03801-3481 (603) 431-8740.
Lodging Econometrics is the primary source of new development activity in the hospitality industry.
23
Table of Contents for the Digital Edition of NEWH - May 2003
NEWH - May 2003
Contents
Letter From the Editor
Hospitality News
Spotlight on NEWH
Tips on Specs....Chandeliers
On the Road Again
Did You Know?
Ancient Storytelling Comes to Life
Indian Gaming: Developing the Latest Gaming Trend
You Can’t Sue an Indian Tribe, Can You?
Putting the Pieces Together: The Steps It Takes to Develop a Casino
Building the Fantasy
The Icing on the Cake: The Importance of Architectural Millwork in Casino Design
Designing Today’s Casino Resort: How to Make Entertainment Memorable and Distinctive
Casino Advertising: A Sure Bet!
Understanding Code Issues Related to Riverboat Casinos
Purchasing on a Dime
Under Wraps
Small Business Advice
Working With Team Players...
In My Opinion...
Taking the Gambling Out of Specifying Gaming Furniture
Industry Partner Education
Bios
NEWH - May 2003
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