OPENING A MIDWEST CASINO AGAINST ALL ODDS
From the ground up
Challenge:
Open a 200-slot machine casino and deli from the ground up within 56 days, have a successful grand opening, and meet financial goals each quarter of the first year while still negotiating state and federal regulations.
Solutions:
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Our financial experts worked diligently to establish the entire financial system prior to opening including banking, accounting, cash management, analysis, etc. Efficient/effective use of technology enabled the team to attain goals and objectives. The casino opened on time with all systems functioning properly within the MICS guidelines. First-year financial goals were attained in four months through proper financial management.
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CMS Groups operations team completed a slot floor analysis to maximize revenue per square foot, and make sure the correct gaming mix was in place and the best denomination mix was utilized for best optimization.
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The CMS Group marketing group began with a complete market analysis including a local, regional, and destination analysis. To begin building a database, the team partnered with local and regional community events and organizations to sign up potential customers. The CMS team, after doing a thorough analysis of programs in the area and competitive research, built an enticing loyalty program/players club. To gain a further reach to potential customers, CMS Group utilized their database resources around the country and was able to obtain mailing lists based on interests such as gaming, casinos, and on disposable income, zip code, gender, age, etc. The efforts grew the database to over 25,000 players and club members prior to the opening day.
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The CMS operations team along with the F&B experts worked with the local team in creating a menu for the deli that (1) was viable to create with the limited kitchen space and during peak times of the day. The deli has seen continued growth from the first day of opening.
Results:
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Coin-In increased 105% in 12 months over budget
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Rated play increased 107% in 12 months
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Database / Players Club Members grew 110% in 12 months
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Deli sales increased 110% in 12 months