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Detroiters' Hawaii Gambling Study 2000

Detroiters' Hawaii Gambling Study 2000

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Published by Archive It
Detroiters commissioned this study when they first started their push for legalized gambling in Hawaii. Despite 9/11, recession and other factors that have changed the landscape since 2000, this is the same report they're using to re-ignite the debate for gambling in Hawaii now (2011).
Detroiters commissioned this study when they first started their push for legalized gambling in Hawaii. Despite 9/11, recession and other factors that have changed the landscape since 2000, this is the same report they're using to re-ignite the debate for gambling in Hawaii now (2011).

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Published by: Archive It on Oct 28, 2011
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10/28/2011

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Assistedby:DECEMBER,2000
MARKETANDECONOMICIMPACTANALYSISTWOCASINOSONTHEISLANDOFOAHU
PreparedBy:MICHIGANCONSULTANTS426W.OttawaLansing,Michigan48933517-482-0790_JacobMiklojcik,PresidentLawrenceB.Boyd,Ph.D.UniversityofHawaii
 
EXECUTIVESUMMARYMARKETANDECONOMICIMPACTANALYSISTWOCASINOSONTHEISLANDOFOAHU
PURPOSEANDSETTINGThereportanalyzesthemarketandtheeconomicimpactsderivedfromtheconstructionandoperationoftwolandbasedcasinosontheIslandofOahu.CareistakentodistinguishdollarsthatareneworretainedinHawaiifromspendingthatissimplyanintra-stateshift.ThedocumentincludesinformationontheimportanceoftourismtotheHawaiianeconomyandidentifiesthedownwardtrendsduringthepastdecade.Theincreasingcompetitionfromnewandemergingcasinovenuesisemphasized.Thereportalsodiscussesvariousothercommunityimpacts,andcontrastslandbasedcasinoswithshipboardgaming.Theanalysesoftheimpactscoupledwiththereviewoftourismtrendsformastrongargumentforthecreationofthetwocasinos.Acentralthemedevelopsthat
itisentirelylogicalthat
a
personwhowithheldsupportforpastgamingproposalsduringothereconomictimeswouldnowdecide
to
supportthedualOahucasinoapproachgiventhefinancialsoundness
of
theproposalandthecompetitiveandeconomicrealitiesfacingHawaii.
MARKETCAPTUREESTIMATESAcomprehensivemethodology,detailedinthefullreport,arrivedatSUbstantialestimatesforthemarketcapturebythetwocasinos:Totalcasinovisits6.8millionannuallyTotalgaminghold$431millionannuallyTotalholdas
%
ofexistingUSmarketslessthan1.4%Totalnon-shiftedgaminghold$309millionannually
0/0
Oftotalholdthatisnon-shifted
720/0
CAPTUREOFNON-SHIFTEDGAMINGANDNON-GAMINGSPENDINGCrucialtodeterminingtheeconomicimpactsistheidentificationofthesourceofspendingandwhetheranyofthedollarsareshiftedfromexistingin-statespending.Themethodologyusesaseriesofcalculationswithinfourmajorspendingcategories.Inallcasesconservativefactors/assumptionsarechosen.Theanalysisconsidersbothgamingandnon-gamingspending{suchasrestaurants,lodging,retail,etc.}.TheTablebelowdisplaystheresults.
CategoryGamingNon-GamingTotal$Annually"Existing"Visitors147,862,36595,834,726243,697,091NewVisitorsDueToNew/Expanded9,178,200133,440,000142,618,200ConventionCenterEventsNewVisitorsDuetoGamingOption93,600,000156,000,000249,600,000Residents58,590,64917,366,59175,957,240TOTAL$309,231,214$402,641,317$711,872,531
 
EXECUTVIESUMMARYMARKETANDIMPACTANALYSISOFDUALOAHUCASINOS
Page20f3
ThetotalsrepresentonlysmallfractionsofthetouristspendingnowgeneratedbycasinosintheUnitedStates.AnyonewithconfidenceinHawaiicanagreethattheproportionsareobtainablegiventheotherattributesofthestate.Thereportoffersasizingscenariofordescriptivepurposes,althoughtheultimatedecisionswillrelyonavarietyoflocaldesignandsitefactors.Thetotalon-siteinvestmentwouldlikelybeatleast$375million.EMPLOYMENTANDPUBLICREVENUESThecaptureoftheadditionalspendinggeneratesnewjobs.Theemploymentislocatednotonlyon-site(atthecasinos),butalsooff-siteduetothenon-gamingspending.Thecasinoswillalsobemajorpurchasersofgoodsandservicesfromlocalfirms,spawningadditionaljobs.Thisdirectandindirectemploymentcreatessequentialroundsofspendingwithintheeconomy,therebycreatingfurtheremploymentopportunities.Thefull-timejobestimatesdisplayedbelowinallcasesarederivedfrom"non-shifted"spendingonly.On-goingEmploymentfromNon-ShiftedSpendingFromNon-ShiftedGamingSpending3,436FromNon-ShiftedNon-gamingSpending4,973AtIn-stateCasinoSubcontractors1,139Non-ShiftedDirectandIndirectEmploymentSubtotal•••••••••••••.•.•••.•••..,549PotentiallyCreated
By
MultiplierEffect10,026
TotalNetJobs
19,575
Acapitalinvestmentof$375millionwouldalsodirectlygenerateapproximately3,000employeeyearsintheconstructionindustry,alongwithadditionaljobsfromsequentialroundsofspending.Thereisalsolikelytobeadditionalspin-offinvestmentonthepartofareahotels,restaurants,andretailestablishments.Thereportestimatesthemajorcategoriesofincrementalpublicrevenues:GamingTaxfromNon-ShiftedSpending
(@
10%)$37.0millionIncrementalIncomeandExciseTaxes(Non-Shifted)$34.7millionTotalIncrementalTaxRevenues(fromItemsestimated)$71.7millionVariousotherimpactswereidentifiedthatwilllikelyleadtoadditionalpublicrevenues,butformalnumericalestimateswouldbepremature.Theseincludesuchitemsasparkingrevenues,taxespaidbycasinocontractors,taxiandrentalcarfees,buildingpermits,airlinefees,increasedpropertytaxrevenues,etc.GAMINGCOMPETITIONANDTHEHAWAIIANECONOMYTheHawaiianeconomyisdependentuponTravelandTourism.Yet,
inthecasinogamingfield,
a
crucialsegment
of
itsmostimporlanteconomicsector,theStatedoesnotcompete.
Afewaspectsareparticularlynotable:Visitorlevelsstagnatedduringthe1990satthesametimethatthemainlandeconomywasflourishing.Therehasbeenanincreaseinvisitorsfromthemainlandinrecentmonths,butthegainstypicallyarenogreaterthanorbelowthespikesintourismatcompetingvenues---alossofmarketsharehasclearlyoccurred.

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