Casinos around the United States continue to deal with low visitation rates and drops in revenue. Unfortunately, many analysts predict that things will get worse over the next few months. We’re now beginning to see influencers helping casinos to bring in more players.
Social media influencers have a legitimate ability to help businesses. Some casinos are now taking advantage of this fact. Today, we’ll take a look at which venues are utilizing this strategy right now.
Let’s get into it!
California’s Gambling Industry is Still Struggling
The state of California is known for having some unusual gambling laws. Here, commercial casinos are completely prohibited. Native American casinos, however, are able to freely operate throughout the state.
As many know, there are a huge number of tribal casinos now operating in this state. Historically speaking, these venues have been hugely successful and help to bring the state large amounts of revenue every year. In 2020, however, this industry was flipped on its head.
All of the casinos here were shut down in March. These casinos are not directly regulated by the state, though. That meant each of them could set their own timetables to begin operating again. Within a few months, nearly all of the casinos in California were open again.
Things are still far from normal, though. Most casinos are seeing very low visitation rates. As a result, there’s been a major drop in revenue. The majority of residents here are simply choosing to avoid crowded venues such as casinos.
Some felt that the regulation of sports betting could improve the situation here. For reasons unknown, however, the state pushed against these plans. California’s casino industry is struggling and no one knows when things will begin to turn around.
Each casino is now taking its own approach to bring in more players. We’re beginning to hear about some new strategies taken by popular casinos in Southern California.
More Reports of Influencers Helping Casinos Have Surfaced
Casino companies spend a huge amount of time working on marketing strategies. That’s especially true with the major casinos in places like Las Vegas. Under normal circumstances, this city sees more than 40 million visitors every single year.
The entire US casino industry is now suffering. As a result, many companies are being forced to take new approaches to their marketing. In Southern California, several casinos are now reaching out to social media influencers to help bring in more players.
Heather Honea, a professor in marketing at San Diego State University, believes this strategy makes sense right now.
“It’s allowed us to connect with individuals we know less about but have sort of the same experiential component,” Honea said. “And as marketing has become so experiential it matters a lot that there’s someone we feel is sharing information in sort of a word-of-mouth matter but also kind of communicating their experiences or their ideas around a product.”
Several popular venues including the San Manuel Casino, Morongo Casino, and Harrah’s Resort Southern California are all taking this approach. It seems to be paying off. As a result, we could see more influencers helping casinos around the country in the future.
It’s an interesting time for this industry. We’re finally beginning to see the revenue reports for the major casino companies in Las Vegas.
More Casino Revenue Reports Are Coming Out
It’s been very interesting to see reports come out on major US casino companies this year. It seems like things are improving, yet no one knows how long this will last. This week, several reports on 2020’s third-quarter earnings came out for major casino companies.
Reports on Wynn Resorts’ earnings were just released. This company earned just $370.45 million over the months of July, August, and September. Interestingly, about half of this revenue came from Wynn Resorts’ properties in Las Vegas.
Caesars Entertainment also released its revenue reports for 2020’s Q3. More than $1.4 billion was earned by this company over three months. That represents a 34% decrease in revenue year-on-year.
All of the country’s major casino companies are seeing dips in revenue right now. It’s taking a serious toll on many of them. Las Vegas Sands, one of the oldest and most established gaming operators in the world, recently announced it was interested in selling some of its biggest properties.
We’ll continue seeing more of these reports come out for the rest of the year. Perhaps if we see more influencers helping casinos, these revenue figures will increase. Stay tuned for more updates over the next few months!
When do you expect the country’s casino industry to get back to normal? Let us know in the comments section below!