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LAS VEGAS - Oct. 6, 1999 - Citing strong demand and a growing market
in Las Vegas according to a study conducted by Arthur Andersen (AA) and
Economics Research Associates (ERA), Boccardi Capital Systems (BCS) announced
completion of the market-research phase of its planned development.
�Our analysis indicates that with the right combination of innovation, management and concept, the Las Vegas market is capable of absorbing additional properties. New projects, such as Boccardi Capital Systems� proposal, that can meet those challenges can succeed in the current environment,� said Steve Comer, partner of Arthur Andersen. Fabrizio Boccardi, chairman of BCS, indicated that there was potential for additional successful gaming properties in Las Vegas, provided they were cutting-edge concepts creating an element of excitement missing from some of the recent entries into the megaresort market. �The basic fundamentals driving the Las Vegas economy are still very much intact, and these should provide an ideal environment for a project like ours to succeed,� said Boccardi. The study reviewed the historical and projected environment of the market, including site (location, neighbors and availability), regional economics, hotel market (supply and demand) and casino or gaming market potential, as well as the retail and entertainment market potential. �This study reinforces the belief that the gaming market in Las Vegas will continue to grow,� said Austin Anderson, president of Economics Research Associates. �The report also substantiates our knowledge that the center of gaming activity lies in the heart of the Las Vegas Strip, provided you give current and potential visitors a reason to be there.� �Our intentions are to launch something bigger than a megaresort, which will infiltrate the way of life within and outside of the Strip. We won�t need to cannibalize visitors from existing properties in order to succeed because we will give potential visitors a compelling, new reason to come to Las Vegas,� Boccardi said. Boccardi said the study guided BCS� planning with respect to:
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