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Transcript of Roosey Finalprint Turismo [Compatibility Mode]
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An Economic Development Strategy toRealize Tomorrow’s Vision Today
“The Caribbean Riviera”
p r e p a r e d b y C . H . J O H N S O N C O N S U L T I N G & T H E C H I C A G O C O N S U L T A N T S S T U D I O , I N C . © C C S J U N E 2 0 0 9
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THE SITUATIONA Critical Condition with Unique Potential
• Shuttered naval base and underutilized resource
• Area unemployment and economic hardship
• Need to enhance the overall Puerto Rico tourism market
• Need to stimulate investment, create jobs, encourage visitation and re-energize through true economic development
• In short – a strategic vision for Roosevelt Roads rather than a patchwork of land sales and an empty promise of the future
“The Caribbean Riviera”
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THE PREMISEAn Economic Development Strategy
• Leverage gaming as an “Economic Engine”
• Create world-class quality and appeal in all aspects
• Focus on job creation and true, regional economic development
• Enhance the tourism brand of Vieques, Culebra and Puerto Rico
• Utilize the inherent amenities of the Roosevelt Roads property
• Articulate a compelling vision
• Create a non-derivative homerun“The Caribbean Riviera”
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• Gaming
US
Canadian
European
Asian
Island/Caribbean
Framing the OpportunityOverview of Gaming & Tourism Markets
Ma
ca
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s V
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as
Island/Caribbean
• Caribbean Tourism
Current
Trends
Competition
Mo
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rlo
El C
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g H
igh
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Old
Sa
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• Tremendous land availability
• Key central location to Caribbean tourism, as well as Cuba, Bahamas and Central America
• Abundant natural amenities
Framing the OpportunityPhysical Potentials of the Roosevelt Roads Property
• Abundant natural amenities and attractions
• Deep water port
• Airfield opportunities
• Ability to create a unique destination context
• Ability to offer multiple “invitations” for visitors
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THE OPPORTUNITYRoosevelt Roads as an Economic
Development Initiative for Today
• A unique approach to leverage assets and strengths toward economic redevelopment
• Capture the world’s largest growth industry – Travel/Tourism/Entertainment
• A “destination-building” initiative - focus is not merely gaming aloneis not merely gaming alone
• Leverage the unique amenities and eco-tourism draw of the surrounding area
• Strengthen and enhance Puerto Rico’s investment in convention and trade industry outside San Juan
• Support existing local business and assets in Ceiba, Naguabo, Vieques, Culebra and Eastern Puerto Rico
• Create new employment and sustainable industries
“The Caribbean Riviera”
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• Successful integration of casino gaming as part of a destination
• Signature components of the total entertainment and tourism development program
Gaming and Tourism PrecedentsSignature Developments
Mo
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Ca
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l
program
• Examples from other world-class cities
– Grand Casino, Monte Carlo
– Casino De Montreal, Montreal
– Fallsview, Niagara Falls
– Atlantis, Bahamas
– Sun City, South Africa
– Genting Sentosa, Singapore
– Genting Highlands, Malaysia
Fa
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Atla
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• A 140 year old success story
• Originally conceived as an economic development engine to build tourism industry
• A catalyst for economic development program
Gaming and Tourism PrecedentsGrand Casino – Monte Carlo
development program
– grand hotel
– opera house
– theater
– railroad/transit system
• Architecturally, a source of civic pride and public image
– to Monaco and to the entire Mediterranean
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Gaming and Tourism PrecedentsCasino de Montreal - Montreal
• A very successfully integrated urban casino referred to as a “jewel in the skyline”
• Forged strong relationships with local artisans, theatrical venues, visitor amenities, civic foundations and the likecivic foundations and the like
• ±100,000 SF of gaming area
• ±3,100 slot machines and 124 gaming tables
• More than 6.5 million visitors in 2003
• Casino workforce over 3,300 employees
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Gaming and Tourism PrecedentsCasino Fallsview - Niagara Falls
• Great success in achieving broader economic development aspects
• ±130,000 SF of gaming area
• ±3,000 slot machines and 150 gaming tables
• Approximately 30,000 visitors per day
• Casino complex workforce of about 5,000 employees
• Extensive spin-off benefits for area hotels and businesses
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Gaming and Tourism PrecedentsAtlantis, Paradise Island - Bahamas
• World renown +170 acre Bahama resort
• Largest Caribbean casino at 50,000 SF including over 1,000 slots, 100 table games and race and sports book bettingbetting
• 6 hotels with over 3,700 rooms including 21 restaurants and 19 bars/nightclubs
• 100 Acre “aqua park”, one of the largest in the world
• 18 hole golf course
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Gaming and Tourism PrecedentsAtlantis, Paradise Island - Bahamas
Recent Atlantis Comments
“The prospects are very good and we think occupancy will be maintained in excess of 80 percent. We've invested approximately $2 billion so far approximately $2 billion so far here in Paradise Island. In terms of what's ahead, we still have some great beaches and some great undeveloped real estate.”
Atlantis Management
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Gaming and Tourism PrecedentsSun City - South Africa
• One of the first “resort” casinos, built in 1970s drawing 25,000 visits daily
• Located 100 miles from Johannesburg
• Four hotels - 1,300 rooms
• Full range of table games, slots and salons
• Includes 45 acre water park, two championship 18 hole golf courses, 6,000 seat arena
• Adjacent to 135,000 acre Pilanesberg National Park and game reserve
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Gaming and Tourism PrecedentsGenting Highlands - Malaysia
• 19.6 Million visitors in 2007
• 6 hotels, with over 10,000 rooms
• 200,000 SF of gaming space
• 500,000 SF Indoor Theme ParkPark
• 40 minute drive from Kuala Lumpur
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Gaming and Tourism PrecedentsResorts World Sentosa Island – Genting - Singapore
• 120 acre $6 billion resort development located 25 miles from Singapore airport to open 2010
• Expected to add $2.7 billion to Singapore’s GDP and create 10,000 direct jobscreate 10,000 direct jobs
• Program includes 6 hotels -1,800 rooms, Universal Studios, Marine Life Park Oceanarium, a water park, Hard Rock hotel, and 10,000 seat amphitheater
• Casino 150,000 SF with 1,600 seat Theater
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THE KEY METRICSClear Strategic Objectives
• Gaming Revenueprovides resources to invest in the region
• Development Investmentkey focus for Roosevelt Roads, Vieques, and Culebra
• Employment & Broad Impact
potential for multiplier benefitspotential for multiplier benefits
• Enhanced (unique) Tourism Branda competitive advantage strengthening all area resorts
• World Class Qualitya source of pride for all of Puerto Rico
“The Caribbean Riviera”
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THE VISIONA World-Class, Signature Development
• High quality gaming venue
• Riviera-style destination resort
• International airport
• International cruise port• International cruise port
• Partnership initiative with Vieques/Culebra
• Stewardship with Conservation Trust
• A true economic development strategy
“The Caribbean Riviera”
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Conceptual ApproachCreating a Development Vision
• Puerto Rico as The Caribbean Riviera
– Central location and hub to Caribbean tourism
– What Monte Carlo is as icon to the Mediterranean, Mediterranean, Roosevelt Roads can be to the Caribbean
– Right vision will elevate all of Puerto Rico
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Conceptual ApproachCreating a Development Vision
• Roosevelt Roads as the Transformational Economic Engine of the Region
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Vie
ques
El Y
unque
• A natural extension of the eco-tourism icon of El Yunque
• Linked with Vieques and Culebra to form a most unique cruising and recreational paradise
• Launch point for the islands, and other parts of the broader region
• Support for the Puerto Rico resorts and tourist amenities (including Bahia Beach, El Conquistador, Coco Beach, Palmas del Mar, “W” Vieques, Rio Mar, Cayo Largo)
• The heart of new employment and investment: on-site, off-site, across the region
Luquill
o B
each
El C
onquis
tador
Cule
bra
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Conceptual ApproachCreating a Development Vision
• Creatively Leveraging Inherent Amenities
– Abundant Natural Amenities:
El Yunque, coastal, marshland and mangroves, topography, beaches)
– Reuse potential: deep water cruise port, destination airport, inner harbor and high-speed ferry hub)ferry hub)
– Unlike anything else in Puerto
Rico or the Caribbean: multiple
invitations, a collection of many
activities
– Vieques and Culebra linked as economic development
partners
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Bold Ideas and Initiatives• Inner Harbor
– International cruise hub and yachting center
– High speed ferry link to Vieques, Culebra, resorts
– Destination shopping and wharf district
– Theater and entertainment
– International Quality Casino
– Hotels, lodging and premier destination resort
– Waterfront corniche and new city fabric
• Eco-Tourism Adventure– Diving, exploration and link with islands
– Environmental education
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arb
or
Conceptual ApproachCreating a Development Vision
– Environmental education
• Island Paradise– International yachting harbor and center
– Resort residential
– Villages and towns
– Port Grimaud
– A living community
• Destination Airport– Gateway to South America and Caribbean
– Direct access from EU countries
– Enhancement of Puerto Rico airside infrastructure
• Landside Development– Community, schools, retail and support
– Employee housing
– Future expansion potential
Po
rt G
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au
d, F
ran
ce
Eco
-To
uri
sm
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Conceptual ApproachCreating a Development Vision
The Heart of the District
Color plan aerial of core district
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Conceptual ApproachCreating a Development Vision
The Heart of the District
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Conceptual ApproachCreating a Development Vision
The Heart of the District
Conceptual ApproachCreating a Development Vision
The Heart of the District
Conceptual ApproachCreating a Development Vision
The Heart of the District
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Boston Singapore Casino Morongo Sidney Harbor
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State-of-the-art Ferry Terminal
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Wharf-front Marketplace
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Premier Seaside Resort
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Theater and Entertainment
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Signature Retail
International Cruise Hub
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Destination Airport
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International Cruise Hub
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Waterfront District Trolley
Theater and Entertainment
Destination Airport
Signature Retail
International Cruise Hub Sustainable Architecture
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Resort Residential Courtyard
Waterfront Residential
Premier Seaside ResortFull Range of Gaming
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Premier Seaside ResortResort Residential Courtyard
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Resort Residential Courtyard
Premier Seaside ResortLive Performance Venues
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Resort Residential Courtyard
Waterfront Residential
Full Range of Gaming
Variety of Dining
Premier Seaside ResortLive Performance Venues
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Waterfront Residential
Premier Seaside Resort
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Waterfront Residential
Waterfront Plaza
Premier Seaside ResortHigh Quality CasinoDistrict Trolley
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Waterfront Plaza
Premier Seaside ResortHigh Quality Casino
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IMPACTS AND BENEFITSThe Fiscal Results of a Strategic Vision
Total Phase One Investment - $1.9 Billion
Permanent and Temporary Jobs
• 17,000 Phase One on-site jobs
• 42,500 Phase One total jobs
• 3,000 Temporary Construction Jobs
Direct and Indirect Fiscal Benefits
• 1.7 million visitors night annually
• Increased hotel occupancy
• Sales, hotel, income, property, gaming and other tax receipts
• Gross resort sales volume - 2,500 rooms and 130,000 SF casino- $1 billion
• Over one half billion dollars of new incremental spending
“The Caribbean Riviera”
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Regional Employment
• Vieques and Culebra - Absolute partners in tourism product-substantially expanded tourism at these destination islands
• Ceiba, Fajardo, Luquillo, and Naguabo – key employment centers
IMPACTS AND BENEFITSThe Fiscal Results of a Strategic Vision
Naguabo – key employment centers serving the project
• Necklace of resorts that will benefit and expand their tourism base:
– Bahia Beach
– El Conquistador
– Coco Beach
– Palmas del Mar
– “W” in Vieques
– Cayo Largo“The Caribbean
Riviera”
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“ T h e C a r i b b e a n R i v i e r a ”
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Essentials for Success
• Unique destination placeleveraging assets of Roosevelt Roads
• Competitive Gaming Regulatory structurecritical to attract quality companies
• Competitive Gaming Investment Structure
“ T h e C a r i b b e a n R i v i e r a ”
• Competitive Gaming Investment Structureconsider a range of options
• Incentives and Catalystsability for government to be the driver
• Industry Insightsunderstand gaming economics and industry issues
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“The Caribbean Riviera”
An Economic Development Strategy toRealize Tomorrow’s Vision Today