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David Waddell Gaming Guru - Page 20 MGM to Work With Minority Contractors in All Future Bids14 June 2000
One of the most overlooked aspects of the new casinos in Detroit is the reality that casinos are constantly under construction. New improvements, and in Detroit's case, new permanent facilities are in the works. On average, a casino property has a "shelf life" of approximately only five years before it is totally rebuilt and refurbished. ... (read more)
Ted & Jim May Soon Be Gone, But Their Legacy Will Survive31 May 2000
The pictures were striking in the Detroit New's Sunday feature articles on the Greektown Casino, L.L.C. Clearly, the casino is very near completion and will be ready to open as soon as the current licensing issues and the state of the 40 percent stake owned by Ted and Maria Gatzaros and Dionitrios ("Jim") and Viola Papas are completed. ... (read more)
Its Time for Those Who Work in the Gaming Industry to Speak Out17 May 2000
Speaking at the Southern Gaming Summit in Biloxi, Mississippi last week, American Gaming Association President Frank Fahrenkopf bemoaned that no matter how many scientific studies are conducted several myths about the societal impact of casino gaming still get repeated as fact. Mr. Fahrenkopf called upon ... (read more)
When Will Greektown Open?3 May 2000
The delays have been endless. Rumors keep surfacing, purported players keep changing, and the scenarios put forth get more and more complicated. According to the widely reported word on the street, Michigan gaming regulators have spotted "apparent" deficiencies with respect to Ted and Maria Gatzaros and Dimitrios and Viola Papas, the current 40 percent owners of the Greektown Casino, L.L.C. ... (read more)
Recent Study Suggests that Casino Gambling has a Positive Economic and Community Impact19 April 2000
Recently, the northern Michigan community of Corwith Township commissioned a casino impact study which was performed by Michigan Consultants, a Lansing firm. Corwith Township is just north of Gaylord and was struggling with the decision of whether to welcome the Bay Mills Indian Nation into the community to build a casino. ... (read more)
Season Ends with the Promise of a New Beginning for Northville Downs5 April 2000
It has been a year in which the worst was feared. With two of the three Detroit casinos opening, many thought the racetracks, particularly those in the Detroit area, would be reeling from the competition. With this in mind and knowing that Northville Downs' meet was ending, I decided to take in the closing ... (read more)
Tax Rules on Gambling Winnings and Losses22 March 2000
It's that crazy time of year, tax season. With 18 tribal casinos and two Detroit casinos now open in the State of Michigan, many residents are, for the first time, faced with figuring out how to report their gambling winnings and losses. This column will provide a detailed overview of the tax rules applied ... (read more)
TwoTribes Win $20 Million Victory8 March 2000
Two Native American tribes' obligation to share approximately $20 million with the State of Michigan ceased upon approval of four new Indian-gaming compacts with four additional tribes, according to a federal court decision this past week. As a practical matter, this means that the revenue-sharing ... (read more)
Knowing the Rules of the Political Contribution Prohibition Game is Key in an Election Year1 March 2000
This year's election season is beginning to heat up. Last week Michigan held the Republican primary and every newspaper, radio station, TV broadcast and Internet news site contained the latest and greatest information on what each candidate was saying and promising. These same reports included updates on ... (read more)
Lottery's Marketing Methodology Will Likely Change23 February 2000
Last Friday, the Michigan Senate Fiscal Agency released figures stating that lottery revenues have decreased so far this year by seven percent. For the current fiscal year, lottery sales have totaled over $540 million. Thus, it appears that the opening of Detroit's casinos has had a significant impact on ... (read more)
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