The Standard We Hold Ourselves To
A feasibility study commissioned to confirm a decision already made is not a feasibility study — it is a document risk. Investors, lenders, tribal gaming commissions, and state regulators have seen enough optimistic projections to recognize one on sight. JSA's studies are built to withstand that scrutiny because our methodology is conservative, our assumptions are documented, and our conclusions follow the data.
When the numbers support the project, we say so clearly. When they don't, we say that clearly too — along with what conditions would need to change to alter the assessment.
Our Track Record
What a JSA Feasibility Engagement Covers
- Market sizing and gravity modeling — quantifying the realistic patron draw from primary, secondary, and tertiary trade areas using demographic and behavioral data
- Competitive analysis — evaluating existing and anticipated competitive supply, including Free Play reinvestment posture and patron loyalty dynamics
- Revenue projection modeling — conservative and sensitivity-tested, across gaming and non-gaming revenue streams
- Cannibalization analysis — for multi-property operators assessing whether a new development draws net new revenue or redistributes existing volume
- Queuing and optimization models — for amenity mix, hotel sizing, F&B configuration, and other non-gaming components
- Capital structure assessment — evaluating whether the proposed investment can be serviced by realistic revenue projections under conservative, base, and upside scenarios
Who Engages JSA for Feasibility Work
Tribal gaming authorities evaluating new development or expansion. Commercial developers and private equity groups underwriting an acquisition or greenfield build. State gaming regulators and legislative bodies requiring independent market analysis. Management consultancy firms needing a gaming-specific analytical partner. Investors seeking an independent second opinion on an operator-commissioned study.
Market Breaks Analysis — Results in Two to Three Weeks
Sometimes the Most Valuable Feasibility Study Is the One That Stops the Wrong Project.
The engagement. The Crawford County (KS) Convention & Visitor Center engaged JSA to prepare an independent market analysis with a specific objective: document what the regional market could actually support — and whether a competing casino development proposed for the same area was viable.
The outcome. JSA's analysis held up under scrutiny. The findings were used directly in a public relations and legislative lobbying campaign challenging the competing project. Crawford County was ultimately selected as the casino development site.
It is a case that illustrates something JSA says plainly on every feasibility engagement: honest analysis is just as valuable when it argues against a project as when it argues for one. The ±10% accuracy window is built on the same discipline either way — follow the data, document the assumptions, and let the conclusions stand on their own.