Let’s consider two big things!
A few states have re-opened to some degree, with other states coordinating efforts regionally, which means many of you are well into execution mode of your latest re-opening plan. As we approach the return of gaming entertainment, several casinos are executing surveys to get a feel for guest safety concerns, eagerness to return, and discretionary spend budgets.
It’s fairly reasonable to assume that guests will not be returning with the same wallet they enjoyed pre-Covid19. Especially the group most impacted during this time, the coveted 60+ demographic. In addition to the obvious health risks for this group, 401k programs have suffered a 25% hit. The furloughed employee has taken on debt awaiting stimulus checks and jobless benefits. Another consideration is frequency. Will guests have broken their play pattern and realize they do not need to frequent casinos as often as they did pre-closure? Things could swing the other way with pent up demand forcing yielding measures given reduction in gaming positions. Clearly things will be different but to what extent? Reinvestment flexibility will be key to early success which leads to our first BIG thing:
#1. Prepare for pivotunity!
Ensure you have put yourself in a position to be flexible based on early returns. Communication speed will be important, so examine your email and app penetration rates. Can you speak to 80-90% of your database electronically? If not, now is the time to conduct campaigns to capture that information from guests and update your database.