Sinking of the Day Cruise Casino Industry

The Day Cruise Casino Industry will start to flounder if Florida expands video lottery terminals at every pari-mutual facility in Florida.

Boca Raton, FL (PRWEB) May 5, 2007 -- The Day Cruise market is headed for troubled waters as expanded gaming initiatives passed in the Florida Senate and is on its way through the House of Representatives. The Day Cruise Casino market generates 60% or more of their revenues from slot machine operations, as reported by Eric Rahn of Rahn & Associates, a maritime gaming expert. Most Day Cruise operators have moved their operations north or west of Broward County since the opening of the Seminole Hard Rock Casino, Miccosukee Gaming and the Broward pari-mutual facilities; Gulf Stream Park, Mardi Gras Dog Track and Isle Capri Harness Track.

The only product advantage the Day Cruise operators such as SeaEscape, Sterling Casino Lines or Sun Cruz Casinos offer is the ability to play Blackjack, Roulette and Dice for 4-5 hour periods while on cruises in international waters. "A big storm is brewing, if in the near future, Governor Charlie Christ negotiates a compact with the Seminole and Miccosuki Indian Tribes to allow full Class III gaming, thus eliminating any competitive advantage from this segment of the gaming industry," predicts Mr. Rahn.

The Day Cruise Casino market which relies on Mother Nature for smooth sailing, presently competes with casinos that are within local driving distances offering gambling without time restrictions, and superior game selection. With more gaming facilities being The casino ships will find it hard to compete with the latest Las Vegas slot machines offered at the additional proposed gaming facilities. Time is short, with rough seas ahead as slot machine players' row ashore.

The Day Cruise Casino industry does not contribute any gaming taxes to the State of Florida, thus understandably why the State is not worried about imposing competitive elimination. Over the last 25 years the Day Cruise Casino market has struggled with sorted controversies, an anti-casino Attorney General and numerous bankruptcies.

With the State of Florida looking to revamp its property tax rates, the goal of this piece of legislature is to reduce the school property taxes between $1 to $2 billion dollars annually. What other service industry contributes that much tax revenue to the state budget?

Controlled by the State of Florida, the pari-mutual Video Lottery Terminals (VLT) casino, is a proven gaming model succeeding throughout the country. By increasing the number of gaming venues across the state, this Bill will level the competitive gaming market for all pari-mutual operators.

So as the Day Cruise Casino market is treading in rough waters, the pari-mutual industry is set for smooth sailing. Casino gaming in Florida continues to evolve and soon will be able to compete with the other Class III casino gaming jurisdictions. Rahn concludes," One day Florida will be on par with Nevada and New Jersey as a premier casino destination state."

Rahn & Associates is a boutique consultancy firm specializing in maritime gaming, racinos and casino industry. Visit www.bizdecisions.com

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