STATESIDE
Stateside L
ife moves along too quickly, doesn’t it? The older we get, the faster it seems to go. As I have since 1992, I again attended the G2E convention. This time, I returned home with a sense that the “torch” is passing before
my eyes. I have a gut feeling that a newer, younger generation is gradually assuming the industry reins. What type of industry will they inherit? Over this quarter century, what began as a small
For good or for bad, today’s business often revolves around corporate bottom lines and head counts
convention – with a different name in the 1990s – of a few thousand attendees in a hotel has exploded to more than 30,000 in a huge expo center. Walking the trade floor, as I always do, I realized that dozens of companies and their staffs were totally unfamiliar.
No limits Admittedly, I am almost never exposed to many
organizations in many parts of the world. Looking and hearing about the thousands of products and services proved that we are, in many ways, light years from those early days of gaming. I find it amazing that creative minds can develop so
much. Every time I think we are close to reaching the limits of our imagination, I’m proven wrong. Throughout my career, I have seen dozens of
groundbreaking innovations like player tracking, Ticket In/Ticket Out (TITO) technology, video reels replacing spinners, onscreen video dealers and many other advances. However, it seems that in recent years, the pressure to constantly produce stimulating, creative technology has skyrocketed. Why? I believe that younger Millennials, raised with almost everything at their fingertips, are often almost addicted to their technology and devices for excitement. They are accustomed to continuous entertainment.
Challenges
The challenges of reaching this group is one key issue facing today’s gaming industry. How do companies attract these younger players and, more importantly, keep them as loyal customers? While the growth of American gaming has
exploded, thanks to growing public acceptance, there has been a price to pay. Loyalty is an emotion most reflected by certain behavior and commitments. For me, one problem with the 24-hour technology
8 OCTOBER 2016 Ocean’s 11 I often wonder how gaming pioneers like Bill
Harrah or Sam Boyd would view today’s industry. In the original 1960 “Ocean’s Eleven”, Las Vegas was a city of smaller casinos with well-dressed customers and a camaraderie among them. Frank Sinatra, Dean Martin and their “Rat Pack” buddies existed in a Vegas long gone. While progress has changed Las Vegas, conditions differ among legal gaming jurisdictions nationwide. In smaller Colorado mountain towns, remote tribal properties or riverboats, personal relationships mean everything. Customers develop a comfort level to repeatedly patronize a venue.
Keep them coming Casino executives and equipment manufacturers
understand this challenge. Sure, they must grind out and operate new products year after year, but it means little if a loyal customer base does not withstand the test of time. As the older generation, who held a few jobs during their lifetime, fades away, they will be replaced those who have often worked multiple jobs by 40. Every study reveals that younger customers rarely
maintain emotional connections like their parents and grandparents did. Today’s executives must determine how to bond with them, keep them coming and then convey that secret to tomorrow’s leaders as they too pass the torch. It is not enough to just attract customers with friendly service and goodies. Success now also depends on filling that ever-present need for excitement.
Sharon Harris sees the generational torch pass before her very eyes – without singeing her eyebrows
obsession is that it is emotionless and often anonymous. Casino operators are hard pressed to discover the ideal formula to retain younger customers because there is often little, if any, personal attachment. For good or for bad, today’s business often revolves
around corporate bottom lines and head counts. In Las Vegas, millions of people zoom in and out for conventions, weekends or partying. Walking down the Strip, customers are dazzled by the brilliant architecture and interior designs. But, it is also an impersonal experience. Expecting excellence in the externals is fine, but reaching the customer’s “core” remains crucial for success.
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