Quote of the Day

“We have hit the tipping point. The industry has embarked upon the unsound strategy of raising the price of the product. I don’t think they want to admit they priced it too high. They keep adding bonusing rounds and top-box features with bells and whistles, but they are expensive. In Nevada, some gaming operators even petitioned the state to raise the maximum allowable hold percentage. Contrast that with a place like West Memphis [Arkansas], which has Instant Racing at what I believe is about 5.5% hold, and the game is very popular. They have about 1,000 machines and they are packed, while Tunica is dying on the vine.” — Global Market Advisors co-founder Andrew Klebanow on trends that may be depressing the American gaming market.