The Casino Outlook for the Summer 2021

The wait is over. Casinos have been  given the green light to increase the number of guests they can  accommodate to pre Covid 19 levels. This is welcoming news for the gaming and entertainment industry.The gaming operators have been forced to be resilient over the past 14 months. Most have found challenges with employee retention and acqusition. While that was eased because of the reduction of gaming space,the effort to attract employees must now intensify. Casinos on each coast are offering job referral incentives to current workers and propective hires. One consideration could be to reach out to former employees to gauge their interest in returning in a flexible or part time capacity.

There will be several revenue streams that will recieve a spike in the next 3 months. The Food and Beverage departments along with  hotel  occupancy will approach the historical month to month numbers of 2019. Entertainment will also be a draw to customers looking to go out to shows and concerts. The professional teams are going to full capacity for indoor events so the casinos should be looking to follow suit. Looking at local talent would be a win - win as a gate attraction. 

FYI for those looking for the two hottest concerts in Las Vegas. First is Usher at Caesars Palace. Here is a glimpse of what to expect from the IHeart Radio Awards 2021 and his residency . 

Performance: Usher Sings "Confessions/Love In This Club/My Boo/Yeah" | iHeartRadio Music Awards 2021 - YouTube 

Sports is the vertical that the casinos are betting on. Partnerships with professional teams will boost the use of mobile gaming and sports betting apps.  The marketing opportunities are not just related to wagering on the pre match odds. Extended options involving futures and in game betting should be explored. 

Atlantic City's  revival will be peak during the summer season. Las Vegas will see an increase in their mid week business. The covenience markets like Philly,Washington and Baltimore will have to become creative because they will be competing with other comericial venues for the entertainment spend in those respective cities. 

The leader in all of the aforementioned markets must find their niche and promote themselves effectively. Determine who your customer is and keep that person connected to you. I could expand and give concepts but it would behoove me to share those thoughts in a conversation. For now, you can follow me on LinkedIn and Twitter. 

I will have some exciting news to provide to all you very shortly. Enjoy your summer.

The second performance is Bruno Mars who will be performing at the Park MGM in July. 

Performance: Silk Sonic Sings “Leave The Door Open” | iHeartRadio Music Awards 2021

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Back to Sporting Events and Casino Entertainment

Last week,I went to my first sporting event in over a year. I attended the Sixers and Phoenix Suns game at the Well Fargo Center.   I was not sure what to expect but I was prepare to execise all precautions that the venue has in place. Since there was a capacity on attendance the traffic going to the game was non existent. What would normally take about 20 -24 minutes took about 15. 

Parking was easily accessible with only certain lots being utilize. Entering the facilty was similar to any other time attending a game. Everyone was wearing a mask. There is a mandatory tempature check.There were no programs that highlight the team and the opponent's game information. Seating was set up to conform with social distancing. There was no one on the row with us.  

If you plan to purchase something from the concession stands or gift shops, prepare to wait in line. There is no social distancing regarding the line. You must have a credit or debit card because all transactions are cashless. I did not see any vendors bring food or drinks to the patrons at their seats. I imagine if you were in a suite that amenity would be available. Time to avoid the restroom is during halftime and a break between quarters. 

I was told that the Phillies have a unique way of enforcing the mask on policy. They have an usher on patrol that will hold up a sign requesting that you keep your mask up if you forget or neglect to do so. While the capacity at the baseball games are larger, the precautions are still in place for you to have an enjoyable and safe expierience.

If you are planning to attend a casino for the first time since the pandemic shut hotels and gaming operations down over a year ago, expect a reduction in gaming spots. Table games that would have accomodated 6 people are now set for 4 patrons.  Casino shows are about to return soon with Dave Chappelle at Foxwood Resort in Connecticutt on June 25th. Usher will begin his residency in Las Vegas at Caesars Palace on July 16.  I would look into booking a flight now to save money. As the summer approaches, airlines will raise prices to meet the demand of more people flying domestically.

I''m looking forward to this fall when the G2E will return Oct 4th thru the 7th. I plan to arrive early and take in a show while I am in town. I will let you know who is headlining as the conference approaches. As more people are vaccinated the level of normalcy will return and the interactions will resume. Keep adhering to the CDC guildlines and we will prevail against COVID- 19.

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Christmas Gifts that a Gambler or Gaming Executive would love

With Christmas just a little more than a week away ,the scramble is on to pick out the perfect gift for the gambler or gaming executive in your life. There is a commonality in those two people. Not only do they share the same environment such as a casino, racetrack or sports book  but they are knowledgeable about the world of risk. They like the excitement and the fanfare of participating or watching games. So any of these gifts that I mention now are stocking stuffers.

The 1st is a scratch off or lottery ticket. The chance of a $1.00 ticket turning into a 6 or 7 figure payout is extremely low. But the recipient will feel like a million dollars until the drawing takes place or the result is revealed.

The 2nd is a smart watch from Apple. This serves no many functions other  than telling time. It can track the gaming executive's steps per day and the gambler withdrawals from the ATM. Either of those individuals will call and thank you on that same watch. The cost is approximately 199.00.

The 3rd is a trip to Las Vegas in 2021. No gambler or gaming executive would want to go right now, but if you plan a trip for the beginning of the 3rd quarter, they would take you up on it. A vaccine should be readily available by then. If the tickets and accommodations are booked no, you could get a good rate especially if the trip is planned mid week. Usher begins his Caesars Palace residency on July 16 2021. Tickets start at 150.00. 

Before I share the last two options here is my gift to you.

The 4th is buying a gift card from Draft Kings. This is an sports betting industry first. The recipient would love it if they live in a state that has sports betting. They could use the card to add funds to an already existing account. The account must be with Draft Kings. I am sure other operators will emulate this. The card will be available in $25 and $50 denominations  in convenience stores like Sheetz, 7 Eleven, Dollar General and Speedway. 

The 5th and final gift option is purchasing a stock from a publicly trading casino or gaming company. You may want to look at a sports betting company for the recipient. If you want to start the process you can open an E Trade account or confer with your broker if you already invest on Wall Street. Why not give a gift that gives your friend or family member more? There are several options that I see as definite buy situations. I will expand on that in a future article.

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Gaming Forecast for the remainder of 2020

I decided to assess what I see for 3 gaming regions. The regions are Nevada, New Jersey, and Pennsylvania. Everything that I hypothesis is based on COVID 19 levels. The CDC has projected a rise in cases this fall. The cold and flu season is approaching and will impact the public willingness to convene in crowded venues.

I will focus on the major cities in each of the regions. Las Vegas will still be slow to move toward recovery. Airline flights are still under capacity with extremely limited international passengers. All major convention business has been scrapped for this year.  There is talk of some concerts being scheduled in show rooms. Usher is planning a residency performance in 2021 at Caesars Palace. There are tremendous deals on room rates during the week that may tempt you to fly out for a three day - two-night getaway.

Atlantic City is still one of the top ten trip destinations in the United States according to Trip Adviser.  The casinos just received a boost with the return of dine in restaurant service. Casino restaurants, like every other restaurant, must observe the many restrictions put into place including 25% percent capacity, tables spaced 6 feet apart, patrons required to wear masks while not eating or drinking. This will entice visitors to come to the shore during the months of September thru November. The price of gas is relatively low and will motivate patrons to take a drive to America’s greatest playground. I would strongly suggest having a reservation if you are dining. Atlantic City is allowing the resumption of smoking on the casino floor. This is not in the best interest of the employees and patrons at the casinos. It allows the shore to offer something that will bring in additional revenue. The risk does not appear to be worth it. 

 

 

Philly has also extended the amenities to include food. This is consistent with the casinos that are operating outside of Philadelphia County. 24-hour gaming is going to return on September 18.  The casinos have beefed up their efforts to keep the facilities clean and have maintain temperature check policy that protects the guests and the employees. An increase of deep cleaning and disinfecting the front and back of house areas is already underway. When the capacity levels are increased to accommodate more guests, the challenge the casinos will face will be staffing. If the capacity level were increased to 40-50% by October 31, that would be a treat. Lastly, Poker should be revisited and opened with a limitation on the amount of people allowed at a table. Other modifications should include no smoking, changing cards frequently and online reservations during peak times of play.

My view is this week's Monday Motivation of optimism. The gaming industry will return to profitable levels in convenience and urban markets quicker than the resort areas. All operators must find ways to create the environment that places safety first while providing an exceptional entertainment experience. The opinions expressed are my own. The creativity I shared is to inform you of what can be accomplished during difficult circumstances.

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