Todd Fishon, who has worked in the gaming industry since 1987 and helped open Foxwoods Resort Casino in Connecticut, was hired to oversee casino operations at the Greenbrier in 2010.
Described as Monte Carlo meets Gone with the Wind, the Casino Club at The Greenbrier combines high-roller thrills and high-class style to create an unforgettable Greenbrier gaming experience. The 103,000 square-foot venue is filled with world-class gaming at its finest. One can enjoy live entertainment, international cuisine and boutique shopping in an elegant setting that revels in the warmth and charm of southern hospitality.
Todd is the vice president of casino operations. His expertise is opening resort style properties. I met Todd professionally when he came to Greenbrier. He was considerate in taking time to answer my questions.
1).What is the
marketing radius of a regional casino?
Depending on competition within your region, a two
hour drive market is the most realistic. If you start overlapping into another
casinos jurisdiction, the area will decrease. If you are in an area that does
not have another viable offering in a certain direction, the area can be expanded.
2).Are the
profit margins the same? Regional vs.
Destination
Not including gaming taxes, the profit margins
should be higher for a regional casino that has a significant portion of their
table games revenue from local gamblers that do not require the same amount of
reinvestment as a recruited gambler. Additionally,
a regional casino can experiment more with novelty games as they have a more
receptive market of regular guest that will try new games.
3).Does the tax
structure influence your floor design?
Having a higher tax structure is more restrictive
in slots concerning the use of leased products but is a consideration in table
games; especially if you are in an area that does not have a high win per unit
that can absorb the fixed costs of leased products.
4).What is the
average daily spend at a destination casino?
Daily casino spend is more predictable for a
regional casino than a destination casino due to different challenges with each
destination. If you are in an area that has a significant amount of convention
business, the casino revenue per occupied room will be less than if your resort
has a majority focus on casino guests.
5).What games
are more popular to a locals market?
Blackjack is the most popular game but of the
proprietary games, Three Card Poker (especially with the six card bonus) is the
leader followed by Ultimate Texas Hold Em, and Mississippi Stud.
6).Online
Gaming. Is it better suited for a
regional or destination casino?
Online gaming is best suited for the bigger gaming
companies, some of which are prevalent in both markets. However, considering
the regulations that are being placed on online gaming, the regional casinos have
a lot to gain by attracting the gaming dollars from customers that have to
participate in the state that they live.
Todd also has a commentary in my next G2E interview post.
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