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A proposed Mulvane casino would generate more revenue and have better entertainment amenities than one proposed for Wellington, consultants reported Wednesday, but both would suffer if a tribal casino is built in Park City.
Peninsula Gaming's proposed Kansas Star Casino in Mulvane scored higher than plans for a Wellington casino in the consultants' reports to the state's casino review board.
Gambling revenue would be significantly greater at the Kansas Star than at Global Gaming Solutions' proposed WinSpirit Casino near Wellington due to its proximity to Wichita, two financial consultants said.
Its amenities earned the edge over WinSpirit's from another consultant, who preferred Peninsula's plans for an equestrian/events center to Global's plans for an auto racetrack.
The Kansas Star also posted higher economic and fiscal impact numbers in reports from other consultants.
The seven-member review board will meet with the consultants in Topeka on Dec. 1 to review the reports and ask questions. Representatives from Peninsula and Global also will attend.
The two companies are competing to build and manage a state-owned casino in Sumner County.
The board will hold a teleconference to gather follow-up information Dec. 7. It is scheduled to choose the winning proposal Dec. 15 at a meeting in Topeka.
The two financial consultants, Cummings Associates and Wells Gaming Research, offered similar findings to the board in two earlier rounds of bidding.
Global Gaming has questioned their methods and argued that its experience along the I-35 corridor and its own research into the market show the revenue numbers wouldn't be very different.
Cummings's new report projects total gaming revenue at the WinSpirit in Wellington would rise from $62.1 million in 2012 to $141.2 million in 2014, $155.8 in 2016, and $160.5 million after it is completed.
Cummings projects total gaming revenue at the Kansas Star near Mulvane to start at $159 million in its temporary facility in 2012, rise to $192.1 million in 2014, and reach $213.4 million when completed in 2016.
Cummings said the projections are substantially higher for Kansas Star because proximity is a major factor in consumer spending at any casino, not just those in competitive markets.
But he also said tourist visitation from people who live farther than 100 miles away would be greater at the WinSpirit because it would be closer to population centers in Oklahoma, and because its proposed travel plaza would capture more drive-by traffic.
Wells Gaming Research forecasts 2012 revenue from the WinSpirt, which would open that summer, at $45.1 million in the first six months operation. By comparison, it projects $132.8 million from the Kansas Star in it first full year.
WinSpirit revenue would rise to $108.7 million in 2014, and $120.5 million in 2016, Wells said.
Kansas Star revenue would be $178.7 million in 2014 and $209.5 million in 2016, Wells said.
Cummings and Wells also said a proposed tribal casino in Park City would hurt both casinos.
Cummings said WinSpirit's revenue would be 18 to 21 percent lower if the tribal casino is built, while Kansas Star's would be 21 to 25 percent lower.
If a Park City casino expands to match the two state casinos, the damage would be even greater, according to Cummings.
Wells estimates that a Park City casino would cut revenue at the WinSpirit by 23 percent in 2012, and at the Kansas Star by 31 percent.
By 2016, if fully built, the Park City casino would slash revenue at both casinos by 41 percent, according to Wells.
Macomber International, a consultant that reviewedamenities such as restaurants, bars, hotels and entertainment venues, concluded that both casinos' amenities that are "prudent and appropriate" for the market.
Of WinSpirit's proposed auto racetrack, Macomber said, "there is nothing wrong with adding a race course, per se, as a marginal incremental activity, but if and only if the core foundation activities are working."
Macomber said most auto racing is struggling, and tracks typically don't generate high numbers of people.
"While a NASCAR mega-facility is a desirable amenity to any casino, a speedway aimed at sports cars in the middle of Kansas is not," Macomber said.
Macomber said Kansas Star's equestrian/events center "will be a very useful marketing tool" for the casino.
Macomber, a first-time consultant for the review board, said both proposals compare equally in their ability to provide a core casino product and experience.
But it prefers the Kansas Star for committing to complete its project, including a 300-room hotel, in four years; for making a stronger marketing commitment; for using subsidized pricing; for producing greater revenue; and for its equine/events center.
A report by Union Gaming Analystics said both companies have the financial capability to complete their projects.
