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Paradise Misplaced
Estimated Food Income
Income Approach to Value: Food Income Estimate

In estimating the food and beverage income to the subject, an analysis of income and expense ratios for existing facilities on the “Strip” was made. In addition, published statistics by the Nevada Gaming Control Board were analyzed. The following income comparison chart sets “,forth the percentage of revenue received from casino operations, ,food and beverage, hotel department, and other income and sets forth the ratio of expenses to departmental gross income experienced by these. Again, the existing facilities are identified by letter only and cannot be identified as to the exact facilities since statements were provided in confidence. Analysis of these statements indicate that the total food and beverage income at 25% of the total gross income  would be substantially in line with the existing facilities. In addition, and with consideration given to the design of the proposed subject improvements, the beverage income is estimated at 11% of the gross and the food income at 14%. This is in line with existing facilities, is in line with trends as reported previously in this report, and is in line on an overall ratio basis.

In arriving at these estimates, consideration was given to the heavy beverage facilities located in the subject proposed project as compared to the food type facilities.

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Last modified Wednesday, 02-Dec-2009 11:22:18 PST