Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
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Construction & Development Costs<br />
Large Medium Small<br />
License Fee $66.5 $66.5 $66.5<br />
Land Cost estimated as a % of Building Costs 20.0% 10.0% 10.0%<br />
Development, Construction & Fees<br />
Design/Architectural Fees (% of building) 8.5% 8.5% 8.5%<br />
Other/Pre-Open (% of gaming rev) 5.0% 5.0% 5.0%<br />
Bank Cash (% of gaming rev) 2.0% 2.0% 2.0%<br />
Slot Machine Purchases * $22,000 $22,000 $22,000<br />
Square Foot Allocation/<strong>Gaming</strong> Position<br />
Casino 35 35 35<br />
Back of House as a % of casino 50.0% 50.0% 50.0%<br />
Other (including F&B) as a % of casino 50.0% 50.0% 50.0%<br />
TOTAL Estimated Square Feet<br />
Cost per Square Foot Large Medium Small<br />
Casino $600 $525 $450<br />
Back of House $250 $250 $250<br />
Other (including F&B) $500 $450 $400<br />
Parking Garage:<br />
Space / Position Count 70.0% 50.0% 50.0%<br />
Cost per space/ Garage Costs $15,000 $15,000 $15,000<br />
Surface Parking:<br />
Spaces / Position Count 30.0% 50.0% 50.0%<br />
Cost per space/Surface Lot Costs $4,000 $4,000 $4,000<br />
Contingency 7.0% 6.5% 6.0%<br />
* 92% of machines purchased; 8% assumed to be leased participation games.<br />
Unit price includes player tracking system<br />
At this level of cost per square foot the resulting facilities would be competitive with any<br />
currently existing in the <strong>Pennsylvania</strong> market. Sufficient space is included to provided for backof-house<br />
functions and for restaurant, bar and limited retail developments. Assumptions for<br />
depreciation of assets are as follows:<br />
Depreciation Assumptions<br />
Large Medium Small<br />
Building as a % of Constructions costs 70.0% 70.0% 70.0%<br />
Furniture, Fixtures & Equipment as a % of Construction<br />
Costs 30.0% 30.0% 30.0%<br />
Depreciation Schedule<br />
License 20 20 20<br />
Building & Other Long Term Costs 20 20 20<br />
FF&E 10 10 10<br />
Slot Machines 5 5 5<br />
The Innovation Group Project #054-11 August 2011 Page 86