What are the chances that Suffolk Downs could become the most profitable casino in the Western Hemisphere? Not good, you’d think, but Mohegan Tribal Gaming Authority is willing to bet on it. If annual revenue reaches 
$1 billion, then Revere gets $40 million in tax dollars. That’s the icing on the cake of an elaborate revenue-sharing scheme. Revere gets $1 million if Suffolk Downs grosses so much as $850,000,001 in Years One through Three. Distributions increase on a sliding scale during the first seven years, maxing out at $30 million in year seven (unless Suffolk Downs grosses in excess of $900 million).
It’s an elaborate and hard-to-resist package of goodies for Revere. Experts are divided on its feasibility. It outbids Wynn Everett, so the latter will have to make its case on the strength of its brand and product quality.
Wynn Resorts rates ‘only’ fourth out of the top five casino stocks compiled by Bloomberg, with MGM Resorts just a bit below. Drawn from the consensus of Wall Street analysts, the ratings put Las Vegas Sands at the peak (24 “buy” ratings). Bloomberg‘s sampling opinion puts Bally Technologies at #2, and surprise entry Churchill Downs at #3. The latter hasn’t pulled the trigger on several recent acquisition opposition, so we’ll have to see whether it’s as fast on the draw as Wall Street thinks.
Wannabe casino developers in New York State‘s lower tier say only one gambling house can flourish: theirs. (Surprise, surprise.) The exception is Traditions at the Glen owner Matt Walsh, who thinks his proposal can coexist with Tioga Downs or anyone else who might find themselves sharing the market — should New York’s Facility Location Board choose to place two casinos in the southern tier. As for the Visram lads, given the failure of the Golden Phoenix in Reno under their ownership, they ought to stop bragging on their supposed Nevada expertise,
