The title of this panel at the Indian Gaming Association conference this week in San Diego was probably written by Captain Obvious. Of course, slot machines have been, and remain, the main source of revenue for Native American operators ever since these games became legal (and even before).
The subject of the discussion was how to continue to ensure slots remain as productive as possible. Doug Parker, of the accounting firm Finley & Cook from Oklahoma, moderated the discussion and asked, “Do we focus less on slots with our marketing than we did 20 years ago?” He noted that in the past, he often saw billboards touting jackpot winners, but they’re non-existent today.
Mayan Beltran, general manager of Fortune Bay Resort Casino in Tower, MN, said that almost every casino today has the same slot machines. “So operators need to distinguish themselves on other things, like service, amenities, and restaurants.”
Mike Trask, VP of product marketing for slot manufacturer Ainsworth, countered that the “winners billboards” of today are stronger than ever, but have migrated to social media, where dozens of postings and videos of jackpot winners pop up online every hour of the day.
Everyone on the panel agreed that advanced analytics are key to understanding and improving performance. Maulin Gandhi, president of Tangam Systems, said, “Our data is only as good as what decisions we make off of it.” He said we can now accurately see if customers are spending more or staying longer on individual machines.
While data tools are improving, GLI’s Director of Client Solutions Joseph Bunevith urged the audience to look to the digital-gaming world to see what’s possible with even more individual data. He said that with online data from handheld and online games, casinos can determine the true who, what, and why of the gaming spend. Trask added that the stronger games in the digital world are also often winners for us on the casino floor.
Parker asked the panel, “Which KPIs (key performance indicators) are the most important?”
The panel mentioned coin-in, handle pulls, time on device, repeat play and average bet. But both Bunevith and Trask agreed that the bottom line is how much money a game makes. Bunevith continue, “Does it make more or less than other games?”
When asked if smaller properties are at a serious disadvantage in not being able to afford leading analytics software, Gandhi pointed out that analytics packages have become much more affordable. “Software costs have actually dropped 70% to 80% in recent years, unlike inflation everywhere else.”
Perhaps the most important message came from operator Beltran, who noted the importance of training and focusing on slot and customer analytics. “You can create many of the same reports of the more sophisticated programs, but you need to make it a priority and support your analytics teams.”
