Integrity. Independence. Expertise.
Spectrum Gaming Group provides an unparalleled suite of services for the regulated gambling industry worldwide. We service all sectors of the legal gaming industry, including:
Casino (commercial, racetrack, tribal)
Emerging Forms of Gaming
Pari-Mutuel (including historical horse racing machines)
Retail Gaming (electronic gaming devices in bars, taverns, etc.)
Sports Betting (including daily fantasy sports)
Our findings, conclusions and recommendations are based solely on our research, analysis and experience. We do not tell clients necessarily what they want to hear; we tell them what they need to know. We will not accept, and have never accepted, engagements that seek a preferred result.
Feasibility, Market Study
Spectrum provides unbiased, credible projections and estimates for gaming projects and markets around the world. We do this for proposed new multibillion-dollar integrated resorts and for small gaming-floor expansions – as well as for all forms of legal gaming. Using a variety of tools including proprietary gravity models, our analysts:
- Project gross gaming revenue and non-gaming revenue
- Project property visitation and spend per patron/visit
- Size the market and define the catchment area
- Assess the competitive landscape
- Develop forward-looking, five-year profit-and-loss statements
- Determine the optimal number of gaming positions
- Develop a SWOT analysis for any project or market
- Undertake a risk assessment
- Determine the reasonableness of existing internal or external projections
- Assess qualitative factors such as transportation issues and barriers to entry
Representative clients: Florida Legislature, Hard Rock International, Melco Resorts & Entertainment, New York Gaming Association, Seneca Nation of Indians, Wynn Resorts
Regulatory and Anti-Money-Laundering Compliance
With the growing global crackdown on anti-money-laundering (AML) and gaming regulators being ever vigilant, gaming companies, gaming associations and financial institutions call on Spectrum expertise to ensure they are in full compliance. Our senior team of operators, regulators, AML specialists, law-enforcement professionals, attorneys and accountants provides a detailed examination of – and then provides recommendations for – minimum internal control standards (MICS), casino operations, AML compliance, surveillance and other regulated aspects of the legal gambling industry.
Representative clients: Atlantis Paradise Island Resort, Bank of Valetta, Oklahoma Indian Gaming Association, Oneida Indian Nation, Silver Heritage Group, Tinian Dynasty Hotel & Casino
Governmental Licensing and Due Diligence Investigations
Public institutions rely on Spectrum to provide sound, in-depth background investigations to determine the suitability – both integrity and financial – of license applicants (corporate and individual). Private-sector companies retain Spectrum before applying for licensure, or retaining a potential partner, to determine if there are red flags that might impact their suitability. With our decades of experience undertaking background investigations of all types in gaming jurisdictions around the world, we understand the facts and issues that matter most to gaming regulators, gaming companies, and investors in the gaming industry.
Representative clients: Caesars Entertainment, Maryland Lottery Commission, Massachusetts Gaming Commission, Ohio Casino Control Commission, Pokagon Band of Potawatomi Indians, Singapore Ministry of Home Affairs
Public Policy Guidance
Whether for the benefit of legislators or directly for a government entity, Spectrum brings its wealth of gaming-related experience to bear in advising companies and governments on gaming-related public policy. While maintaining our non-partisan position, we advise on crafting or refining legislation, regulation and policies such as setting gaming tax rates, maximizing positive economic benefits while minimizing negative social impacts, ensuring integrity in regulation, and understanding the critical interplay among different forms of gambling within a jurisdiction.
In addition to our engagements, Spectrum professionals have lent their expertise by testifying or presenting before more than three dozen government entities, including four US Senate committees.
Representative clients: Casino Association of Indiana, Illinois Casino Gaming Association, Pechanga Development Corp., Rush Street Gaming, Saratoga Gaming
Spectrum’s lottery professionals have counseled lotteries and studied lottery operations around the world, from the Republic of Georgia to the State of Georgia. Our services have included:
- Providing an independent analysis/business case of the economic impact of regulating and operating sports betting through the DC Lottery
- Writing the sports-betting service-provider RFP for the Rhode Island Lottery
- Assessing the effectiveness of operations, management and governance structure of the Ohio Lottery Commission
- Undertaking comprehensive due diligence investigation for Intralot Inc. that included work in the Caribbean and the US involving several companies and their shareholders, addressing beneficial ownership and suitability
- Delivering a comprehensive study for the Massachusetts State Lottery Commission in its consideration of online wagering
- Projecting gross gaming revenues for the Georgia Lottery Corporation if it were to implement video lottery terminals
- Leading the implementation of live table games for the Delaware and West Virginia lotteries, which already offered VLTs
For all of our lottery work, we rely on individuals who have worked with Spectrum on multiple engagements, including our groundbreaking work for the Massachusetts Lottery, the most successful in the United States – and the nation’s only completely state-run lottery operation. Our Lottery professionals have not only designed successful lottery strategy and business plans, but more importantly our professionals have been responsible for executing these plans.
Representative clients: British Columbia Lottery Corporation, Georgia Lottery, Intralot, Massachusetts State Lottery Commission, Ohio Lottery Commission, Rhode Island Lottery
Spectrum Gaming Sports Group brings world-class expertise to the rapidly growing field of legal sports betting in the United States. Both state regulators and gaming regulators call upon Spectrum’s expertise to provide services that include:
- Financial analysis
- Public policy guidance
- Regulatory consultation
- Revenue forecasts
- RFP development
- Sportsbook/app development
Specific engagements have included:
- Provided market projections and regulatory insights and guidance for the Puerto Rico Fiscal Agency and Financial Advisory Authority; the Governor cited our report in announcing sports betting legislation
- Provided market projections and insights for the State of Louisiana in a comprehensive gaming industry study commissioned by Louisiana Economic Development
- Provided an independent analysis/business case of the economic impact of regulating and operating sports betting through the DC Lottery
- Projected the size of the prospective sports betting market in Arkansas
- Wrote RFP for Rhode Island Lottery regarding requirements and selection of sports betting service provider
- Advised the Tennessee Sports Wagering Advisory Committee on the treatment and deductibility of promotional credits
Representative clients: Greater Carolina, Las Vegas Sands, Major League Baseball/National Basketball Association, Penn Entertainment, Sports Betting Alliance, Rhode Island Lottery, Tennessee Sports Wagering Advisory Council
Economic and Social Impact Study
Spectrum has been a pioneer in studying the economic impacts of legalized gaming, beginning with Managing Director Michael Pollock’s award-winning 1988 book Hostage to Fortune: Atlantic City and Casino Gambling. Quantitatively, we use sophisticated models including IMPLAN, REMI and RIMS II to measure outputs such as operational jobs (direct, indirect and induced), construction jobs and wages, personal income, income taxes generated, and fiscal impacts. Our researchers dig deep to estimate social costs such as problem gambling, crime, bankruptcies, community services and suicides. For jurisdictions that already have gaming, we analyze before-and-after data; for jurisdictions that may become a gaming host, we analyze the experiences in comparable jurisdictions.
Spectrum economic and social impact studies stand out for their qualitative aspects: We get on the ground to interview a wide swath of those who have been or would be impacted by gaming – from the small-business owner to the executive director of the problem-gambling support group to the local police chief.
Representative clients: American Gaming Association, Connecticut Division of Special Revenue, Iowa Racing and Gaming Commission, Mashpee Wampanoag Tribe, Penn National Gaming, Washington State Gambling Commission
Legislative And Regulatory Services
State and national governments seeking to legalize or expand into new forms of gaming recognize that it is critically important to do it right the first time. Therefore, they call on Spectrum’s team of attorneys, regulators, policy analysts and specialists for services that include drafting and amending legislation, developing regulations, structuring gaming commissions, writing RFPs and providing ongoing consultation. We immerse ourselves in the process, working hand in hand with legislators, regulators and staff to ensure that the outcome is comprehensive, compliant and beneficial to both government and industry.
Representative clients: Government of Bermuda, Massachusetts Speaker of the House, Ohio Department of Administrative Services, Philippines Amusement and Gaming Control Corporation, Pokagon Band of Potawatomi Indians, Rhode Island Lottery
With seasoned professionals in virtually aspect of gaming, Spectrum provides law firms, private companies and public institutions with a powerful arsenal of expertise. Our services include undertaking comprehensive research and analysis, serving as expert witnesses, and providing ongoing consultation throughout the case. We have testified on behalf of our clients in courts, before international tribunals, and before regulatory commissions.
Representative clients: City of Atlantic City, Dickinson Wright PLLC, Duane Morris LLP, Hrvatska Lutrija (national lottery of Croatia), Las Vegas Sands, Nooksack Indian Tribe
Operator and Developer Services
Spectrum experts from all facets of gaming development and operations work closely with gaming companies, developers, architects, designers and financial professionals to improve existing operations and ensure that new facilities are optimally prepared for success. Among our services:
- Operational assessment and performance audit
- Mystery shopping
- Review and refine marketing programs (database and positioning)
- Facility sizing and construction costs
- Preparation for license application
- Acquisition consulting
Representative clients: Bloomberry Resorts, Carnival Corporation, Hilton Aruba Caribbean Resort & Casino, Hooters Las Vegas, Ohkay Hotel Casino, Witkoff Group
Patron Market Research
Spectrum answers the critical questions that gaming operators, visitor/tourism agencies, and developers need to ask: Who are your customers, and what do they want? We undertake customized surveys (intercept, online, telephone), conduct focus groups, dive deep into databases, interview patrons and observe behavior. We layer our primary research on top of secondary research where appropriate. The result: you know your customer, allowing you to design your marketing programs, facilities and events to drive revenues.
Representative clients: Atlantic City Convention & Visitors Authority, Centaur Gaming, Kewadin Casinos, Marnell Companies, Tropicana Casino & Resort, Valley Forge Casino
Spectrum assists gaming-related organizations – from Native American tribes to gaming commissions to operators – in developing a cohesive, achievable plan designed to position themselves for growth in the foreseeable future. We recognize that a critical part of any strategic plan is the ability to adapt to change – be it a competitive threat, emerging forms of gaming, new laws/regulations, or changing economic/financial circumstances. We work with you to establish realistic goals and objectives, whether for a startup organization or a well established company.
Representative clients: Cosmopolitan of Las Vegas, KC JSM Services (Cambodia), Massachusetts Gaming Commission, Pokagon Band of Potawatomi Indians, Puerto Rico Tourism Company Gaming Division, St. Kitts & Nevis Ministry of Finance
The preparation of risk assessments by gaming companies and the jurisdictions that regulate them is a necessary and effective strategy for understanding the gaming markets and the potential issues that can impact performance and investment, and for combatting money laundering and terrorist financing and reducing the risks to casinos of being used for those illicit purposes. The key areas Spectrum examines when undertaking a risk assessment include:
- Market-Based Risks (e.g., geographic marketing, financial products used, cross-border issues, etc.)
- Operational Risks (e.g., physical casino layout, games offered, financial services offered, complimentary services, junkets, etc.)
- Customer Risks, (e.g., due diligence on customers and junket operators, monitoring of gaming operations, suspicious persons, politically exposed persons, etc.), and
- Compliance Risks (e.g., existence of written AML/CFT procedures and internal controls, identification of suspicious activity, training of employees, recordkeeping, etc.)