GAMING PROJECTS

DELAWARE SPORTS AND VIDEO LOTTERY COMMISSION

TMG Consulting was hired by the State of Delaware to perform a study of the potential impacts of new out-of-state gaming competition on the state’s racetrack video lottery terminal casinos and of the potential for additional gaming facilities within the state. The study encompassed primary and secondary market research, a gaming market assessment of the entire Mid-Atlantic United States, a comprehensive horse racing industry evaluation, and a socioeconomic impact assessment. TMG Consulting projected potential gaming revenues, gaming taxes collected, horse racing revenues, pari-mutuel taxes collected, employment, and employment taxes collected for four separate development and competitive scenarios. In addition to making financial forecasts, the study included an analysis of the social and secondary impact that additional video lottery terminal gaming would have on the community, including the impact on property values and the cannibalization of existing leisure industry businesses. The findings of the study, which were widely reported by national publications, were accepted by the nine-member commission and forwarded to the State of Delaware’s General Assembly to aide in their consideration of new legislation.



ISLE OF CAPRI, PENNSYLVANIA

To support Isle of Capri's application for a Category 3 resort casino license in Pennsylvania, TMG Consulting performed a series of gaming market analyses, a socioeconomic impact assessment, and an evaluation of potential impacts of the proposed Nemacolin Woodlands Resort Casino versus competing license applicants. The impacts on state and local tax revenues were estimated, as were jobs created and secondary impacts on the state's economy. Both the local area market and the resort/tourist markets were studied. TMG also provided an analysis of the geographic origins of gaming visitors and revenue for all competing license applications. TMG provided application assistance and testified before the Pennsylvania Gaming Control Board (PGCB) in support of our client's bid for a gaming license. In April 2011, the PGCB awarded the last resort casino license in Pennsylvania to our client, Isle of Capri and Nemacolin Woodlands Resort.



PRIVATE CASINO OPERATOR, MASSACHUSETTS

For a private casino operator, TMG Consulting recently performed a series of complex market assessments to evaluate the potential for a large-scale casino resort within the State of Massachusetts. The evaluation covered the entire Northeast United States gaming market, projecting the potential revenue generation for the client's casino as well as the expected impacts on over 40 casinos within the greater market area (including both casino and racetrack casino facilities). In addition to projecting casino visitation and gaming revenues, TMG Consulting also performed detailed hotel and convention market analyses to determine the potential demand for these amenities at the resort. A separate analysis of the potential impact of a casino smoking ban on visitation and revenues was subsequently performed. Additionally, TMG performed a Socioeconomic Impact Assessment, giving the full picture of the expected positive and negative impacts on the State of Massachusetts and the surrounding community from the construction and operation of the casino resort. TMG Consulting will continue to support our client as they prepare to enter the Massachusetts market.



PRIVATE, LARGE SCALE CASINO OPERATOR, FLORIDA

For a private casino operator, TMG Consulting performed a statewide gaming market assessment to assess the potential for casino gaming within the state of Florida. Once the statewide potential was forecast, TMG assisted our client with the selection of a potential development site and forecast the casino gaming revenues that could be expected from such a site. In addition to projecting casino visitation and gaming revenues, TMG Consulting also evaluated the hotel market and forecast the potential operations of an on-site resort hotel. Lastly, a Socioeconomic Impact Assessment was performed, including projections of total job creation (both direct and indirect) and impacts on local and state tax revenues. TMG Consulting continues to work with this private client through the legislative process in Florida, with the goal of legalization of commercial casino gaming in the State.



PRIVATE CASINO DEVELOPER, BILOXI, MS

For a private casino developer, TMG Consulting has performed an array of services to aid in the planning of a locals-focused casino in Biloxi, Mississippi. The complex gaming environment of the Mississippi Gulf Coast was modeled, and forecasts were made of the potential gaming revenues that could be generated by the client's project. In addition to projecting casino visitation and gaming revenues, TMG Consulting has also provided our client with financing options for the project. We will continue to serve the needs of the client and the project through the casino licensing process.



SONCO GAMING: MONCTON, NEW BRUNSWICK, CANADA

For a private developer, TMG Consulting performed a casino market assessment and economic benefits analysis for a casino located in Moncton, New Brunswick. The utilization and revenue generation potential for the facility's slot machines, table games, and food and beverage outlets were estimated. Optimal casino sizing was recommended and a socioeconomic impact study was performed. The casino's impacts on the local economy were measured in terms of new direct, indirect and induced employees generated from the casino operations, as well as the impacts on local population figures, income levels, and tax receipts. TMG provided gaming license application support, and in mid-2008, our client was awarded the sole license for gaming in this market. The Casino New Nouveu-Brunswick opened in Spring 2010 with 600 slot machines, 20 table games, 8 poker tables, a 128-room hotel, and a multi-purpose entertainment venue and convention facility.



ACOMA BUSINESS ENTERPRISES

On behalf of the Pueblo of Acoma, TMG prepared a Highest and Best Use Assessment for a large parcel of land along Interstate 25. The first step in the assessment was to evaluate the site for potential development. Once a list of potential development projects was established, we consulted with the client to pare down the list to only those developments which were culturally and environmentally feasible. Then, we evaluated each development on the basis of financial feasibility providing pro formas for each development. We also calculated the incremental revenue each development would generate for the Pueblo’s existing developments: casino, hotel and travel center.



TRUMP HOTELS AND CASINO RESORTS

TMG Consulting prepared a gaming market assessment for Trump Hotels and Casino Resorts in furtherance of its efforts to win a gaming license in Philadelphia, PA. The report detailed the revenue to be generated at the chosen location given two different competitive scenarios. In addition to revenue generated by local residents, we also calculated the revenue to be generated by the thousands of tourists who visit Philadelphia every year. Revenue was projected for the first five years of operation. We also presented our findings at the licensing hearing of the Pennsylvania Gaming Control Board.



STATION CASINOS

TMG Consulting, in conjunction with The Innovation Group, produced a Socioeconomic Impact Assessment for a new Casino and hotel resort in Madera County, California. The report was part of the legally mandated Environmental Impact Statement and therefore required assessing three different casino alternatives, a retail alternative and a no action alternative. TMG calculated direct, indirect and induced employment levels for each . Based on these employment levels, TMG projected the number of new residents moving into the County and the impact these residents would have on demand for government services such as fire and police protection, judicial services, mental health services and roadway improvements. We projected the increase in tax revenue to be realized by the County in light of these new residents and direct demand and costs for government services from the casino and its patrons.



MENOMINEE TRIBE OF WISCONSIN

TMG Consulting provided market assessments for a large development in Kenosha, Wisconsin, which includes a casino, waterpark and hotel, and recreational vehicle park. The casino assessment provided revenue projections for three phases of development and included recommendations on the number of gaming positions and the ratio of table game to slot machine positions. The waterpark/ hotel assessment provided revenue projections as well as operating and capital cost estimates. The study included recommendations for the sizing of the hotel, indoor waterpark and outdoor waterpark. In addition to revenue projections, the market assessment for the recreational vehicle park associated with the casino development included sizing and amenity recommendations.



CAESARS MANCHESTER

TMG Consulting prepared a Gaming Revenue Forecast for a regional casino in Manchester, England, in order to assist Caesars in a competitive submittal for securing a gaming license. Non-gaming revenues from the hotel, entertainment, food and beverage, retail and parking facilities were estimated as well as the impact from these amenities on gaming revenues. TMG provided qualitative descriptions of the economic development benefits related to community regeneration brought about by the casino. Also included was an analysis of parking needs, modal split and consideration of a strategy to enhance transit usage.



D’IBERVILLE CASINO

TMG is preparing a gaming market assessment for a proposed casino in D’Iberville, Mississippi. The assessment is being done in light of the period of transition the Gulf Coast is currently undergoing. Gaming revenue from drivein visitors as well as those that stay at the hotel and passing drivers on interstate I-110 attracted to the casino is projected for the year 2009.



POJOAQUE PUEBLO CITIES OF GOLD CASINO AND BUFFALO THUNDER RESORT

TMG prepared a gaming market assessment for the Buffalo Thunder Resort which is located slightly to the north of Santa Fe, New Mexico. The assessment projected the visitation and revenue generated by the new casino and guests at a new hotel under development with the casino. After projecting the number of visitors to the new casino, we recommended an appropriate number of positions for the casino. A pro forma which included operating expenses and EBITDA (earnings before taxes, depreciation, and amortization) was also produced.



NORTH SHORE GAMING PARTNERSHIP

TMG provided a gaming revenue assessment and socioeconomic impact assessment for a proposed casino in downtown Pittsburgh, Pennsylvania. Our gaming revenue assessment provided the partnership with visitation, win per visit and win per position per day projections. We also provided sizing recommendations based on visitation projections and Pennsylvania statutory limitations. Our socioeconomic impact assessment provided a measure of impacts on Allegheny County such as the increase in the number of jobs and tax revenue. It also measured the cost of providing additional fire, police, education and other administrative services.



POJOAQUE PUEBLO DEVELOPMENT CORPORATION, DOWNS AT SANTA FE

TMG has prepared a gaming market assessment for the proposed reopening of the Downs at Santa Fe Racino (racetrack/casino). As part of a feasibility study, TMG prepared a pro forma which included projected slot revenues, racetrack revenues, operating expenses and EBITDA (earnings before taxes, depreciation, and amortization). After projecting the casino visitation levels, we also recommended an appropriate number of slot positions for the gaming venue. TMG performed a socio-economic impact assessment to measure impacts of the racetrack development on the market area, including employment and taxes generated by the development.



ISLETA CASINO RESORT

TMG prepared a gaming market assessment and feasibility studies for resort facilities on behalf of the Pueblo of Isleta in Albuquerque, New Mexico. The gaming market assessment projected the incremental increase in win at an existing casino to be generated by the resort facilities including a hotel and shopping amenities that are now under construction. We analyzed the feasibility of a 10,000-seat event center in the development. We also prepared pro forma financial statements for the resort facilities.



ISLE OF CAPRI CASINOS


TMG produced a casino revenue market assessment for a casino in Singapore for the Isle of Capri. We projected revenue from all major Asian- Pacific markets. We also projected incremental gaming win to be generated by other venues and attractions at the Integrated Resort.





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