What works in 2015 Gaming?

I am seeing a shift in what works with gaming entertainment. I've watched the operation side go  from build it and they'll come to less is now more. Atlantic City is the perfect example. They are expecting an increase in revenue numbers. This is due to the remaining casinos accommodating their former competitor's customers.

October's casino numbers did not bear this out. Casino revenues were $197.7 million, down compared to $216.9 million in October 2013. The casinos cut those losses in half, however, with another $9.5 million in online gaming revenues that did not yet exist in Oct. 2013. Of the latter figure, $2M of that was from online poker.
The amount of money in play decreased and the market did not grow. There are less rooms and parking spots available.  The cost of parking and rooms will  inevitably go up. This is not the recipe for attracting conventions and long term stays at the shore.

The new rules for gambling in America are different from the late 90's and early 2000's. Two rules are in play for me. Engage your customer. Not just when he/she gambles. Interact with the entertainment information they show interest in. The second rule is brand with the taste of the customer. If the customers likes Starbucks, provide them with specials that they can obtain through you. This not only helps you, but now Starbucks gives you a play as well.  The new rules encompasses food and beverage and events targeting millennials. These are two avenues that can bring new and former customers in.

Expect a new look in Connecticut

 

Foxwoods is making a move in this direction. In 2015, they are downsizing the casino product and looking for more revenue from the non gaming side. Boyd Gaming Corp. told investors in August it planned to change out a few of the restaurants and other nongaming attractions inside several of the company’s area casinos to boost overall revenue. This week, Borgata Casino announced details.

A $13 million dollar property-wide renovation is taking place over the next several months. Improvements include a complete redesign of the Borgata Buffet, renovations to Spa Toccare, the casino floor, front desk, suites, and back-of-the-house areas.

These types of plans have been met with success along the Las Vegas Strip, but have been slow to be embraced by regional markets. In a future post, I'll provide more insight that will help you grow your market share. Some innovative ways that will work without spending your entire budget are coming. Also,learn more about online gaming and how it can shape your future entertainment experiences.

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