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 States often look to racetrack casinos as a way to derive the economic benefits of gaming while containing gaming expansion. The Innovation Group has worked in a number of states that were considering modifying existing legislation to allow the development of racinos, as well as in those already in the process of building racetrack casinos. We understand the issues from the perspective of state agencies, tracks and breeders, and casino developers. |
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Canterbury Park, Minnesota Churchill Downs, Kentucky The Innovation Group performed a feasibility study for a proposed slot parlor, using multiple scenarios, at Churchill Downs in Louisville. Dover Downs, Delaware Caesars World retained The Innovation Group to perform the original market assessment that led to the licensing of the Caesars racino at Dover Downs. Following the phenomenal success of the facility, Caesars World retained The Innovation Group to perform a market assessment for an expansion of the facility and the addition of a hotel on site. Louisiana The Innovation Group has performed numerous assessments for racetrack casinos in the state of Louisiana, including Delta Downs, Louisiana Downs, and Evangeline Downs. Casino revenues were estimated as well as the impact on track handle created by the dedication of racing/gaming center dollars to purses. For Delta Downs, The Innovation Group provided a valuation of the property in its recent sale. Monticello Racetrack, New York For Alpha Hospitality, The Innovation Group performed a market assessment for a potential casino at the Monticello Racetrack in upstate New York. Penn National The Innovation Group has performed a number of demographic analyses for Penn National in their attempts to open Pennsylvania racetracks to casino gaming. Prairie Meadows, Iowa The Innovation Group performed a market assessment for the Prairie Meadows Racetrack for HREC, a real estate consulting firm. HREC used our market assessment in determining the valuation of the property as part of a real estate appraisal and transaction. Tri-State Greyhound, Michigan For Hollywood Casinos and Tri-State Greyhound, The Innovation Group performed a gaming market assessment and economic impact study for four racetracks in the vicinity of Detroit: Northville Downs, Hazel Park Raceway, Jackson Raceway, and Sports Creek Raceway. Casino revenues were estimated as well as the impact on track handle created by the dedication of racing/gaming center dollars to purses. The economic impact on state and local governments were also been estimated and the market impact on the existing casino market in Detroit. Wheeling Downs, West Virginia The Innovation Group performed a market assessment for an amenities expansion at Wheeling Downs. Revenues and casino-impacts for the following proposed components were assessed: hotel, theater, bowling, and entertainment complex. Woodlands Racetrack, Kansas City The Innovation Group performed a market assessment for a potential casino at the Woodlands Racetrack in Kansas City. The assessment dealt with two scenarios for development: one scenario based on a slots-only facility and the second scenario on a facility with both slot machines and table games. |
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