What I Have Learned About the Gaming Industry in the Last Two Months - By John Hendrie
I, like others, always evaluated the Gaming Industry by reading about the major Destinations, like Las Vegas, Reno, Tahoe, the Gulf Coast, Atlantic City and Connecticut. Those locations, where the roads were paved with gold, have been severely tested as of late, and earnings for the big Gaming players have been eroded. My discussions, however, have not been with the major Brands, rather the independently owned and operated, often by our Native American tribes.
The majority of the Gaming activity I focused upon was from the Mid-West through the West Coast, where Casinos operate in secondary and even tertiary markets. And, these operations have undergone similar changes as the major Brands – layoffs, closures, consolidations and the like. Budgets are tight, investment highly scrutinized, and projections guarded.
To be candid, I had expected a far brighter picture. I had been mesmerized by all the dollars flowing during those Hollywood movies, where VIP’s and heavy rollers had everything provided to them with a snap of the finger: big cigars, tantalizing cocktail waitresses, gilded suites – part of the allure, of course, with Gaming – everyone wins and wins big - Vegas, baby.
There is still the glitz, glitter, jackpots and bonanzas, but the picture has been modified and, in some cases, transformed. There is little more the free standing Casino, rather the location is now a Destination. Yes, come and gamble, but enjoy our fine restaurant(s), luxuriate in our Spa, listen to our entertainment, relax in your comfortable hotel room, park in our RV Park, play golf, boat, swim, recreate – and, naturally, visit our tables and slots.
The Brand differentiation now resides with multi- facets and amenities, revolving around gaming at the center of this business spoke. The focus is still on the games, but other factors are in play. Now, the full Experience is based upon how the Guest was treated not only by the Dealer and Casino Host but also by the Rooms Reservation Agent, the Front Desk Clerk, the Waitress and Spa Attendant. That differentiation will have no merit or payback, unless it is supported by energetic, comprehensive Quality Assurance and Guest Service Training, for the memorable Guest Experience is still based upon attitude, attention, care – creating that relationship-based service and delivery. Smaller Gaming Operations have now stepped into a broader spectrum – Hospitality. I may not win at Roulette, but make me feel like a Prince for trying! You really cannot do much about the turn of the wheel or that ten flipped atop another ten and trey, but you certainly can always have a winning Guest Experience. Invest in those odds!
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