Page 57: of Maritime Reporter Magazine (November 1993)

A concept design from Rodney E. Lay & Associates, this Casino Cat™ is reportedly designed with improved seakeeping abilities to handle the Great Lakes' waters.

Gaming Vessel Market

Vessel Builders, Owner/Operators Promise Best Is Yet To Come by Greg Trauthwein, managing editor

As the reality of the gaming vessel market as a viable source of work for U.S. yards grows stronger— by steady orders for new vessels— the focus shifts to "how" and "when:" as in, how big will it become and when will it end?

Following interviews with casino vessel builders, designers and own- er/operators, the answer to both questions is an emphatic "very" and "not soon," respectively. "Right now, it's a major part of our business," said Larry Hairston, di- rector of marketing and sales for

Bender Shipbuilding & Repair Co.,

Inc., which, includingits Braithwaite,

La. yard, has seven vessels currently under construction. "It represents a pretty good per- centage of our work, probably 30 percent overall in 1993." Bender is not alone in its enthusiasm for the market place, as many builders have seen the virtue of building these floating entertainment palaces.

The Market "The casino riverboat business is in phenomenal growth right now," said Steven Norton, president, Ar- gosy Gaming Co. (Alton, 111.). "We expect a number of states to come on line with cruising riverboats and permanently-moored vessels."

To back this claim are not only the words, but the actions of others involved in the industry. Indiana, which voted to legalize riverboat gaming just over a month ago, at press time had received 28 appli- cants for the state's 11 gaming vessel licenses (see related story, page 68).

Both owners and builders are hovering over Indiana as if the first vessel sets sail tomorrow, but by the estimation of a spokesperson for

The Queen of New Orleans' hull and beginning of the first deck, under construction at Halter Marine, a division of Trinity Industries. the recently formed Indiana Gam- ing Commission, the first license may not be issued until next fall.

Undeterred, applicants are busi- ly shaping plans and pitching their individual projects.

The Indiana situation is simply the latest and best example of how fiercely competitive the market has become in such a short time.

Builders and suppliers are ex- pected to meet breakneck schedules in order to get vessels on-line at the earliest possible date, and owner/ operators must prove to state offi- cials and commissioners how their projects will best economically and sociologically impact the local area.

Mr. Norton, a former executive vice president with Resorts Interna- tional, has actually helped individu- al states write and pass casino legis- lation, and in his own estimation is continuously on the road meeting with investors and legislators.

He expects markets with a good population density to prosper, while predicting that established vessels in areas with less populated areas (Continued on page 60)

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