Seven trending gaming industry stories that will impact your casino Revenue Strategy.
1. Can Smartphones Improve Casino Loyalty Programs?
Smart devices allow casino guests to do all sorts of things — except interact with casino players clubs.
“Imagine the possibilities if we embrace this technology to deliver our loyalty club experience,” says Deanna Scott, CEO of Raving Consulting, who goes on to suggest practical ways casinos can modernize their player’s club process and create a true relationship with the guest through their phones. Her suggestions range from using a mobile device for machine-side service to delivering personalized offers based on past shopping behaviors.
“If implemented correctly, our narcissistic obsession with our phone may finally be the answer to creating a club loyalty program that creates engagement and guest satisfaction,” she concludes.
2. Who Is Really Reviving Macau?
Mass market tourism was supposed to be key to the Macau’s recovery after it was hit by the slowdown in the Chinese economy. But it’s the return of VIP gamers doing the most to reboot its fortunes.
After enduring a two-year slump, the city added 8,200 new guest rooms and HK$100 billion ($12.8 billion) of hospitality hardware in Cotai, aimed squarely at the mass market. Yet, in this year’s first quarter, government figures show VIP revenue grew 17%, double the rate for mass market revenue from the main casino floor.Improve Casino Loyalty Programs, plus 6 trending #revenuestrategy stories Click To Tweet
3. Can Casinos Compete with Online Gaming?
Pennsylvania is in the midst of an economic conundrum where lawmakers are considering a tax on online gaming and fantasy sports, among other strategies to spur the economy and job markets. Concerns abound about whether or not these strategies will cannibalize brick-and-mortar casinos.
“The answer to more revenue is not really about potentially addictive behaviors or going to the same revenue well time after time,” says Jeffrey S. Podoshen, an associate professor of marketing at Franklin and Marshall College. “Let’s stop with the mistaken allure of casino revenue and get to work on development measures that really help Pennsylvania citizens gain lasting employment and long-term returns on capital investments.”
4. MGM National Harbor Continues to Outpace Others
Six months after opening, MGM National Harbor is still generating the most gambling revenue among Maryland’s six casinos. Its share of June’s revenue was $50.1 million. Meanwhile, total gaming revenue from the other five casinos was down 13.9 percent from what they generated in June of 2016.
5. Northern Wisconsin Tribe Withholding Casino Revenue from State
The Stockbridge-Munsee Band of Mohican Indians in northern Wisconsin is following through on its promise to withhold nearly $1 million in casino revenue from the state. They’re doing so because of the expansion of a nearby casino in Wittenberg run by the Ho-Chunk Nation, according to tribe President Shannon Holsey.
The Stockbridge-Munsee Band has filed a federal lawsuit to stop the expansion, which the tribe contends is illegal under state law governing small, ancillary casinos like the one in Wittenberg.
6. With Tax Changes Approaching, Indiana Casinos Produce Strong June
Gaming revenues at Northwest Indiana casinos increased their gaming revenue to $75.2 million — an increase of nearly 6% over a year ago. This marked the largest year-over-year gain since February 2016.
June also marked the end of the state’s fiscal year, during which state government enacted legislation intended to lessen casinos’ tax burden and make operations more efficient.
“June was just a good, solid month,” Ameristar Senior VP and General Manager Matt Schuffert said of the East Chicago casino’s performance. “It was good to see growth in both tables and slots.”
7. Iowa Casino Revenue Also Grows, Though Modestly
Thanks to improved Quad-City facilities, Iowa’s 19 state-licensed casinos showed modest growth in fiscal 2017.
The increase was driven primarily by upgraded Quad-City facilities while 12 others posted year-over-year declines, according to data issued earlier this month by the state Racing and Gaming Commission.
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Tags: Casino customer service, Casino loyalty programs, casino pricing, casino revenue management, casino revenue strategy, casino sales and marketing, Casino Taxes, casino technology, casino yielding, Duetto, Indiana Casinos, Iowa Casinos, Macau Casinos, MGM National Harbor, online gaming, Stockbridge-Munsee Band of Mohican Indians