Money and ticket counters can help casinos prepare for new opportunities in the industry and strengthen their offerings. In particular, organizations may want to consider what they need to do to attract millennial customers as this generation increases spending power.
Some regions have had to contend with decreasing revenues, which means casinos need to implement new strategies to stay competitive. There are six casinos in the St. Louis area, and they experienced a collective 5-percent decrease in revenue between April 2013 and the same month this year, according to the St. Louis Business Journal, citing data from the Missouri Gaming Commission and Illinois Gaming Board. One of the challenges facing these facilities is increased competition from video gaming terminals.
A separate article for the St. Louis Business Journal suggested that Missouri and Illinois casinos need to appeal to a younger target market to raise profits. Currently, baby boomers are the primary visitors at these facilities.
"The target market for the traditional brick-and-mortar casino floors is aging, so now is a critical time for casino operators to identify ways to make their facilities more attractive as local entertainment destinations for the younger generations," Daniel Holmes, co-author of RubinBrown's "Commercial and Tribal Gaming Stats 2014" report, said, according to a separate article in St. Louis Business Journal.
How casinos can implement new strategies
In general, casinos may need to consider ways of diversifying the gaming floor to continue to attract new patrons. In addition, casinos in the St. Louis area can take a lesson from Las Vegas and appeal to visitors as a more of a vacation destination, the article suggested. For this to happen, casino operators would need to recognize new efficiencies. Money and ticket counters would allow casinos to increase their back office productivity so employees could focus on creating a high-quality experience.
May 28, 2014