Attracting the members that are going to make a difference to your financial results isn’t always fixed through regular promotions and refurbishments. Often times what is needed is a more targeted approach to really engage your customers.
Lower Gaming Revenue Not Fixed With Promotions & Refurbishment
A metropolitan Venue in the 100-199 EGM range was earning just below the average 50% of Venues in the Astute BI data warehouse in terms of profit per EGM per day. The Venue attempted to grow gaming revenue through various promotions and refurbishment but failed to see any results.
The Venue had previously identified that 1c EGMs provided more than 80% of gaming revenue. Accordingly the majority of capital investment was devoted to new 1c games and cabinets.
Understand How Gaming & Membership Patterns Affect Revenue
The Venue used the Astute BI Gaming Module to assess their denomination mix against high performing Venues in the surrounding metro region and found that they had a lower mix of mid denomination machines.
Using the Astute BI Membership Module they could see exactly which games by denomination and manufacturer were popular with their own high yield players. This confirmed a move towards broadening their range of mid denomination games with the aim of increasing the average spend of their high yield players and attracting and retaining new high yield players.
The Venue used Astute BI Dynamic Reports to identify new games likely to appeal to their existing high yield Members. Over a period of 5 months, two capital purchases were made that reduced the mix of 1c games from 80% to 72%.
Changed Gaming Mix Appealed to Members & Increased Revenue & Profit
Total gaming revenue at the Venue increased by 11.5% and is continuing to grow. Other results included: