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Ellis Communications, Inc. - NEWS STORY
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‘Mad Money’ Host Jim Cramer Bearish On Gaming Industry; Casino
Executives Need An Edge With Guest Advocacy |
For Immediate Release:
January 25, 2008 |
Contact: Tom Ellis
Ellis Communications, Inc.
Phone (417) 881-5635
E-Mail tellis@casinocustomerservice.com
www.casinocustomerservice.com
www.advcoatedevelopmentsystem.com
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Is the world trying to tell
us something?
Last week, CNBC’s “Mad Money” host and stock market guru Jim
Cramer blasted the gaming industry. Last night, he did it again,
saying he was turning his back on gaming.
Earlier this month, it was announced that Atlantic City casinos
failed, for the first time ever, to increase their annual
revenue. Revenue was down 5.7 percent in 2007. Anyone who pays
attention to gaming knows that Las Vegas is getting soft, as are
California and that casino hotbed, Macau.
“Cramer should have caught gaming’s attention last night when he
said he has sold his shares in IGT, the world’s leading
manufacturer of gaming machines,” says Martin R. Baird, chief
executive officer of gaming consulting firm Robinson &
Associates, Inc.
Here’s what Cramer said: “The wind is out of the sails on this
gaming business. There are too many casinos. Macau is trading
down. I think we have reached the outer limits of the gaming
business and I am not going to endorse any of that group any
more.”
Baird says it is painfully clear now that casinos can no longer
afford to give guest service and guest relations just lip
service. If Cramer is correct that the casino market is
overbuilt, then competition must be ferocious and having stellar
customer relationships are imperative, Baird says.
“The world is awash with casinos and from this moment on, every
property must look for an edge over the competition,” Baird
says. “If you’re not measuring your level of guest advocates,
indexing them and creating more advocates to leverage the index,
you are in trouble.”
Robinson & Associates helps casinos measure and create guest
advocates through its Advocate Index™ and Advocate Development
System™. The index and Advocate Development System provide a
turnkey program that generates predictable results for casinos.
As the index number rises, profits also rise. “Casinos can
actually predict future results and also measure return on
investment in our program,” Baird says. “In an uncertain market,
predictability is an amazing advantage over the competition.”
Robinson & Associates may be reached by phone at 480-991-6420,
by e-mail at mbaird@casinocustomerservice.com or via its Web
sites at www.advocatedevelopmentsystem.com and
www.casinocustomerservice.com.
Robinson & Associates is a member of the Casino Management
Association and an associate member of the National Indian
Gaming Association. |
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