When election returns flash across television screens on Tuesday, a number of casino executives will be watching more than John McCain and Barack Obama.

They will be watching to see whether voters in several states hand them an election night treat, in some cases potentially big ones.

• Ameristar has a big stake in Missouri and Colorado referendums.

Ameristar has built a luxury hotel in St. Charles that can open a high roller market if the state’s $500 loss limit is repealed. They would benefit in Kansas City, too.

Ameristar is building a luxury hotel and spa in Black Hawk, Colorado, creating the only destination casino resort in the state. Its value would greatly increase if the bet limit is raised from $5 to $100, blackjack and craps are introduced, and operating hours extended.

• Century Casinos has more at stake in Colorado than any other casino operator. That is because Colorado represents 36 percent of Century’s cash flow.

• Isle of Capri also can benefit in both Colorado and Missouri.

Colorado comprises about 25 percent of EBITDA for Isle.

Missouri is a smaller part of Isle, and high rollers aren’t likely to play a big role at its casinos in Boonville, Caruthersville and Kansas City.

However, it is thought that eliminating the sign-in requirement, which is part of loss-limit enforcement, will make all Show Me State casinos more customer friendly.

• Lakes Entertainment will get a huge boost if Ohio voters approve the enormous casino it proposes north of Cincinnati. Some estimate it’s worth of $10 to $15 a share to a stock selling under $5.

On the flip side, Penn National and Pinnacle Entertainment will be unhappy if a Lakes property drains customers from their southeastern Indiana casinos.

• Penn National has an interest in three state referendums, though none as important to it as Missouri and Colorado are important to Ameristar and Isle.

Penn has a casino in Kansas City and a small property in Colorado. It also has first dibs on a slot parlor in Scarborough, Maine, if residents there approve one.

• Pinnacle is Ameristar’s partner in financing the loss-limit repeal effort in Missouri.

As the owner of two St. Louis casinos, and one under construction, Pinnacle has a lot to gain. That is especially true at Lumiere Place, an upscale property that can host high rollers if the loss limit goes away.

• Suppliers. Slot machine companies all have an interest in Maryland, as 15,000 machines is a sizeable new market. Aristocrat, Atronic, Bally, IGT, WMS and others will be watching.

Likewise, new casinos in Ohio, Maine and Guam would make for new customers.

But other suppliers have oars in the referendum waters next week.

Shuffle Master will want to place electronic tables in Maryland. And any expansion of table games in Colorado opens opportunity for Shuffle Master.

Shuffle Master will be watching to see whether Mainers authorize a casino in Oxford County, and whether Greenbrier resort in West Virginia is allowed table games.

TransAct Technologies and Wells-Gardner also will be interested in Maryland as the former makes slot machine printers and the latter slot touch screens.

• Lottery companies don’t often get to compete for a brand-new market, but Arkansans voters will give them that chance if they OK creating a lottery. The three big competitors are Lottomatica, which owns GTECH, Scientific Games and Intralot. They trade on Milan, Nasdaq and Athens stock exchanges, respectively.

Elsewhere, two locales will test public sentiment on gaming. The town of Lakewood, Washington, will vote on whether to outlaw gambling, thus closing four card clubs and throwing several hundred fellow citizens out of work.

In Massachusetts, voters decide whether to ban dog racing.

The investment implications of the Lakewood and Massachusetts referendums succeeding are small in themselves, but you can bet that anti-gamers would take heart and try to prohibit card clubs and dog racing elsewhere.

And if that snowball starts rolling…

Frank Fantini is the editor and publisher of Fantini’s Gaming Report. A free 30-day trial subscription is available by calling toll free: 1-866-683-4357 or online at www.gaminginvestments.com.

By Frank Fantini

Frank Fantini is the editor and publisher of Fantini’s Gaming Report. A free 30-day trial subscription is available by calling toll free: 1-866-683-4357 or online at www.gaminginvestments.com.

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