Rich Cortesi This is Me

 Web References

1. 1. GEM Communications

   www.casinojournal.com/Publicat - [Cached]

   Published on: 6/1/2003   Last Visited: 6/20/2003

   At Wyndham's Condado Plaza in San Juan, Puerto Rico, gaming accounts for 45 percent of the total operating cash flow, said Rich Cortesi, regional vice president for Wyndham Hotels. That's the highest percent of gaming revenue at any of Wyndham's Caribbean properties, and perhaps the highest for any Caribbean resort. Cortesi points out that Condado Plaza is a downtown hotel that attracts a lot of locals play. With 425 slots, it may be the region's second largest casino.
   
   "People are coming down here looking for a specific resort product," as opposed to a casino product, Cortesi said.
   ...
   Cortesi said that in Puerto Rico, slot play is stronger than table play, but that the percentage of gaming revenue from slots is not as high as in most U.S. drive-in markets.
   ...
   Cortesi said the reason that many Caribbean casinos that could legally operate sports books choose not to is because the law in many countries bans the practice of "laying off" bets. To avoid the risks of holding large, unbalanced bets on one side of an event, he said, sports books keep their bet limits low, such as $500 or $1,000 per bet.
   ...
   "I'd like to think we're tapped out," Cortesi said.
   ...
   The key determinant for business in the Caribbean, Cortesi said, is the health of the U.S. economy. Although some resorts attract European tourists, when it comes to gaming, "the European market has no effect," he said.

2. 2. Travel Agent Central - CHA's Annual Caribbean Marketplace Looks Forward to Extraordinary 2004

   www.travelagentcentral.com/tra - [Cached]

   Published on: 1/19/2004   Last Visited: 9/26/2005

   Says Rich Cortesi, Wyndham's regional vice president: "If the U.S. economy continues to improve and no geopolitical issues arise, our sales team sees the corporate incentive market coming back to the Caribbean."