lgfrb presentation 7 31 v final part2
DESCRIPTION
Kansas Racing & Gaming CommissionCasino Proposalhttp://krgc.ks.gov/TRANSCRIPT
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Frequency of Visit vs. Average Spend
4 4
2 2
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Founder & CEO,
The Navegante Group
Marketing
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Seeking Dodge City
Experience
Seeking Resort Casino
Experience
Hotel & Convention
Guests
Target Segments
Highway Travelers &
Tourists
Regional Guests (> 100 miles)
Local Guests
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Players Club/Rewards Program
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Wild West Country Amenities
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John Bayless Chairman,
Cook, Flatt & Strobel Engineers, P.A.
Douglas M. Smith
Project Director,
BNSC
The Delivery Schedule
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Interim Gaming Facility
Permanent Gaming Facility
03/10 07/10
October, 2011
11/08 01/09
September, 2009
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Interim Gaming Facility Location
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Interim Gaming Facility
575 Gaming Devices
10+ Table Games
Food & Beverage Offerings
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Summary
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Richard L. Stevens
Vice-President, Finance
The Navegante Group
Working Together
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Internal Control systems Financial Reporting Systems
● Revenue audit ● Central system interface ● Standard Financial Reporting ● Statistical Reporting ● Audited financial statements ● External compliance audits
Surveillance Standards & Coverage Security Plan and Procedures Safety Plans & Procedures Internal Audit & Compliance Risk Management Patron Dispute Resolution Records Retention Standardized Policies and Procedures Federal Reporting Requirements – Title 31, SARC, CTRC’s, W2G’s Asset Protection and Maintenance
● Key control ● IT systems - data control & access ● Intellectual property ● Access control – sensitive areas
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Establish a culture of fairness and integrity with all constituencies
Set up appropriate oversight committees: ● Compliance committee ● Audit committee
● Safety & security committees ● Marketing committee
Structural Reporting Hierarchies
Ensure well being of employees and customers Documented systems & procedures for all transactions
Comprehensive review of all incidents and failures
Periodic review & adjustment of all standard operating procedures
Employee training, training and more training
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Douglas M. Smith
Project Director,
BNSC
Funding Picture
Kent J. Schwerdt
Senior Vice-President,
Kaw Valley State Bank & Trust
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Funding Commitments Interim Facility
$25.5M
Privilege Fee $5.5M Org Costs $4.5M
$30.0
$20.0M
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
Senior Debt Commitment
Equity Commitments Infrastructure
Improvements
Reserve $14.5M
Total = $35.5M
Total = $50.0M
In Millions
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Funding Commitments Through Permanent Facility
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
$30.0
$80.0M
Senior Debt Commitment
Equity Commitments
Cash From Ops $8.0M
$93.0M
Infrastructure Improvements
Privilege Fee
$5.5M
Org Costs $4.5M
Total = $118.0M
Total = $103.0M Reserve $15.0M
In Millions
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Clark D. Stewart
President & CEO,
Butler National Service Corporation
Concluding Thoughts
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2,200 8,800 10,700 14,900 15,600
200 600 750 1,000 1,100
200 600 750 1,000 1,100
(In $ thousands)
Revenue to Kansas
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Old West – New Excitement
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