Stations on Steriods

Implications: As a former head of the the largest Indian Gaming facility in the world I can tell you that Ron Lodge knows what he is talking about. We often called our casino the title of my analysis, stations on steroids.

Analysis: Indian gaming falls into 2 categories when it comes to the gaming customer. Category number one, is the frequent, point collecting day trip gaming customer. This particular customer may go to an indian gaming casino 10-15 times a month with a limited trip budget. They accumulate points and utilize them for entertainment. The second customer is the one the northeastern tribes have successfully cultivated and the california tribes are beginning to. These are the "dolphins" not quite whales but a significant player that would be fully comped in Las Vegas and AC. this customer has accounted for the majority of market growth in New England and those native american casinos compete directly with Atlantic City for these prized customers. Another area that the native american casinos have successfully penetrated is the asian market, either through buses or junket trips. As everyone knows, asians are premier customers. So the bottom line is that not only is the Indian Casino a convenience business, it is growing into an overnight and higher end business in some markets. I think we will continue to see significant growth in the Native American casino market as more locations open and operate, to what scale we will have to wait and see.