Present Solution Alternatives: * Slightly increase chances to win money at wagering tables * Set up high spending clientele to exclusive VIP treatment * Offer gambling games on casino’s website * Enhance reward programs
The first possible alternative is to increase the odds for wagering tables which allows customers to slightly increase their chances on winning. Craps and Roulette account for only 11% of favorite casino games as of 2009. It attracts many people to the casino to gamble and win big. The casino sacrifices a small amount of profit in this low percentage area of casino games to attract more customer volume. However, this can result in people walking out with more money than they come in with. This can be counteractive to the industry and may cause casinos to be too crowded. To many people, this is a nuisance to wait for positions on tables, wait to be served to and stand on long lines. Another possible strategy, in line with attracting the types of big spending clientele that Macau attracts, would be to create a more exclusive and luxurious atmosphere for these types of customers. One way they could do this is by offering such amenities as a VIP room or VIP tables, as many exclusive nightclubs, where in order to be seated at such a table it is required that you pay for bottle service. These tables or rooms could provide more privacy and more of an intimate setting and could possibly bring in more celebrity clientele or even just those who prefer this type of secluded atmosphere. A small private dance floor and DJ could even be included as well. In order for this to be more attractive to customers we believe that there would have to be other types of incentives as well. For one, tables and seating would have to be more luxurious, tables plated with gold and high-backed throne-like chairs are examples of ways to achieve this type of feel.
Though it is a great business strategy to attract new and keep existing customers, the technique of treating high spending clientele with exclusive and special treatment is easily imitated. There are many casinos in Las Vegas that send exclusive clientele to VIP rooms and to concerts and shows. As one of the main competitors to Las Vegas and Atlantic City, online gambling is just clearly easier access for gamblers throughout the world. Internet gambling is a growing competitor with $15 billion in revenue. Casinos could offer online gambling through their websites in order to keep up with the competition of online gambling. They could gain a competitive advantage as well this way by allowing consumers to use the points earned at the casinos through the rewards programs towards the online gambling and vise versa. Customers may become more likely to take the trip to Atlantic City and Las Vegas if they could save money on meals and hotel rooms from the points they were able to earn right in their own homes.
Though convenience is very important to customers, online gambling does not give a customer the full experience of a casino. You cannot attend shows or concerts, have gourmet meals and drinks, stay in a hotel room that has room service and maid service, meet new people that are gambling aside you and have the overall atmosphere of a real casino from online gaming. Many people prefer the full experience of a casino rather than sitting on their computers from their home.
The best alternative to improve the status of Las Vegas and Atlantic City is through rewards programs. In the wake of the recession, some casinos have partnered together to increase their revenue by offering rewards programs. As a way to have customers as repeat customers, rewards programs for casinos have to leave them wanting more. Rewards programs can be a good investment for those who frequently visit the same casinos.…