Seminole Tribe of Florida, Inc. Competition
Now Viewing Seminole Tribe of Florida, Inc.'s competition in: Gambling Operations
Recent Developments
Gambling Revenues Could Help States - Legislators across the nation have submitted proposals to ease gambling restrictions as they explore ways to shore up state budgets. Potential gambling industry expansions include Las Vegas-style casinos in Texas, slot machines in airport terminals in Maryland, and online sales of lottery tickets in Illinois, according to the Wall Street Journal. Proponents of such measures may look to the example of Empire City Casino in Yonkers, New York, which has generated $1 billion in revenue since its 2006 opening, $50 million of which was directed to the City of Yonkers for public education.
Casinos Ineligible for Stimulus Funds - Unlike a number of other sectors, the gambling industry will not benefit directly from the $787 billion economic stimulus package passed by Congress in February 2009. The stimulus bill explicitly prohibits the use of funds by localities for casinos and other gambling establishments. The gambling industry will benefit indirectly, however, to the extent that the job creation and economic stabilization efforts supported by the stimulus serve to increase consumers' disposable income.
Debt-Laden Casinos at Risk - Borrowing undertaken for expansion during boom times now poses challenges for US gambling industry leaders MGM Mirage and Las Vegas Sands, according to the Wall Street Journal. Refinancing the debt on favorable terms has been difficult because of the overall credit crunch and a slump in gambling activity. As of April 2009 MGM Mirage had more than $13 billion in debt.
Competitive Landscape
Growth in consumer income and state spending has driven expansion of the US gambling industry. The profitability of individual companies depends on efficient operations and effective marketing. Large operators have the financial resources to make large investments in facilities and efficient computer operations, and have cross-marketing opportunities. Small gambling facilities can thrive by catering to a local clientèle. The industry is fairly labor-intensive: annual revenue per employee is $90,000.
Gambling Operations Industry Forecast
from Hoover's/D&B subsidiary First Research
US personal consumption expenditures for participant amusements and pari-mutuel net receipts, which includes gambling operations, are forecast to grow at an annual compounded rate of 4 percent between 2008 and 2013. Data Sourced: December 2008
Consumer Spending Growth on Participant Amusements Strengthens
First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.
First Research Industry Growth Rating
The First Research Industry Growth Rating reflects the expected industry growth relative to other industries, based on INFORUM's forecasted average annual growth for the combined years of 2009 and 2010.
- Demand: Depends on consumer income
- Require effective marketing
- Risk: Slow economy limits spending on non-essentials
Industries Where Seminole Tribe of Florida, Inc. Competes
- Leisure
- Gambling
- Gambling Resorts & Casinos
- Lodging
- Mid-Priced Hotels & Motels
- Restaurants & Cafes
- Gambling
Seminole Tribe of Florida, Inc. Industry Codes (SIC & NAICS)