 Welcome to Casino Life... Profit and Growth. The casino industry, like so many industries is understandably pre-occupied with it - whether it's the number of slot machines sold, the amount of new casinos in a region or just the bottom line. Sure, it's what good business is all about, but sometimes though, that preoccupation with growth seems to be at the expense of that other pillar of business wisdom - stability. It may seem to be a dull old word but having stability such as a stable market is just as important as having one growing like topsy. The recent closer inspection by the global media of the Asian market is a case in point. Macau, that gleaming pot of gold at the end of the rainbow, is under close scrutiny at the moment - by the press, the authorities and it's not looking too good. The spotlight now falling on the high number of Chinese officials spending money corruptly obtained from the state plus various ill-gotten gains spent by high rollers on junket trips herded in by triads - allegedly - is starting to have an effect on what  many thought was a market that would never slow down. All of this unstoppable growth at the outset yielded Sheldon Adelson's Las Vegas Sands Corporation a tidy sum - approximately $33million per day during 2013. Yes - you did read that right. Now, the morals of that "money machine" are being questioned and what looked like endless growth has been called into question. Chinese New Year results were half that of 2014 and the trend is going to continue. It grew - but now it's stopped and it's reversing... so if your business model is wholly based on continual growth in Macau - it's time to chase the next wave. Meanwhile, back in Europe - that place of small growth but stability, Olympic Casinos have just put the icing on the cake and opened a new casino in Tallinn in the first Hilton hotel to be built in the Baltics. And you thought such firsts were rare. Two stable brands working together profitably.
Profit is also the watchword for Victor H. Royer this month as he hammers home the message that too much time and effort is being wasted on social players when casinos should instead be putting their efforts into retaining and attracting actual gamblers - people who go to casinos to gamble - not hang out / party / watch the game. It's all common sense so I hope it is all digested and adopted.
I'll leave you with a quote from one of our features this month on Foxwoods, from Felix Rappaport, President & CEO : "Happy employees provide great guest service, which brings customers back, which generally provides for a successful financial model. But if you focus too much on profits you might ignore both the guest and employee."
Have a differing view on any of my ramblings? Want to be interviewed and put your venue on the map? Then please drop me a line.
Glyn Thomas Editor in Chief | 
