The gaming and hospitality industry continues to respond to new market realities, as do its investors. Volatility prevailed since our last report in Gaming & Leisure Magazine which analyzed the gaming industry’s performance through the month of May of 2012. Since May 2012, the Applied Analysis Gaming Index (AAGI) retreated 41.10 points to close at 394.64, down 9.4 percent. The sector continues to be impacted by regional, national and global economic concerns.
I wish I knew whether the following statement would get empathy from other industries, but in the gaming industry this might be bold: I believe that this will be the last “generation” where we use green-screen or similar applications in our work.
Ohio, the Buckeye State, is now included in the G&L Central Region; alongside Indiana, Illinois, Missouri, and Iowa. This large market reported a win/loss of $7.98BN in 2012.
In another down-to-the-wire scenario, Congress moved on New Year’s Day to avoid the tax side of the fiscal cliff by passing legislation that extended many of the Bush era tax cuts. But the new law raised taxes for high earners, posing new planning considerations. The eleventh-hour extension of many of the Bush-era tax rates narrowly skirted an across-the board increase in most federal tax rates. But the new rules differ in a number of ways from the old—particularly for those in the top tax bracket.
In the past few years, the EB-5 regional center pilot program has become particularly attractive to the gaming industry as an alternative, low-interest source of capital in a tight lending market. Moreover, the United States Citizenship and Immigration Service has stated that EB-5 projects can be implemented on tribal Native American lands, where many gaming projects are found.
Excluding the Las Vegas strip, casinos typically generate 60%-80% or more of their revenues from slot operations. To understand the workings of a large slot department, we went to Jay Duarte. Jay has been the Vice President of Slot Operations at Thunder Valley Casino Resort for nearly four years. Prior to this, he had four years at various Station Casinos properties in Las Vegas, as well as experience with slot manufacturer Konami Gaming.
As revenue management has developed in hospitality and gaming organizations, hotels and casinos have become increasingly sophisticated at pricing. Today, pricing is carefully managed by most gaming resorts on a daily basis – and even intra-day as arrival dates approach.
The bar and nightclub business has taken off in the last 10 years. Bottle service, all-night parties, and celebrity DJ’s rule the scene. In many regions around the country, liquor sales have surpassed gaming and hotel revenues by a large margin. While there is a ton of money to be made in the bar, it’s a widely known fact that bartenders steal, over-pour, waste, and generally get away with a lot more than they should.
G&L Interview – Michael Day, VP & CIO of Cannery Casino Resorts, and Founder of TribalNet
Observing more movement in the tribal technology gaming space than we have in recent years, and for some reason it seems like there is an unknown force throwing change at so many of us in 2013, it felt fitting to collaborate an article on the topic of CHANGE for G&L readers this issue. I talk with IT leaders at tribal gaming facilities and organizations almost daily and it seems as though the one thing that is always constant for them is change.
When searching for the right candidate to join your player development team there are five skills that are needed.
What can you or your business achieve by talking to the Twittersphere in bursts of 140 characters or less? Quite a bit, actually. Fortunately, Gaming & Leisure Magazine gives us a few more characters than that to share some best practices for Twitter. #LearnMoreHere
While ownership and stakeholders continue to apply pressure for return on investment, we pointed out the attitude of senior management (yes, that would be the CEO, COO and CFO) needs to view player-tracked expenses as an absolute MUST HAVE proposition.
Once the preserve of small, modern, agile companies with small staff – remote working is now a feature of large companies who require their staff to be out on the road and available no matter where they are