How Cvent Helps Casinos Become Profitable
There are four things that come together to make a casino profitable – the popularity of a game, its odds, the skill of a player and pure luck. But even when those factors are in the right place, casinos can still lose money. And that’s because they’re businesses, not charitable organizations that give away free money to anyone who walks through their doors.
When a person strides into the Luxor, Mohegan Sun or Tropicana casino, they may strut with confidence and a wallet full of cash, expecting to gamble responsibly for an enjoyable hour or two. But hours later they’re often no longer sure what time it is, how many rounds of drinks they’ve had or what happened to their money. This is because casinos are designed to trick people into spending their hard-earned money. They use sounds, lights and physical design to create an environment that is welcoming yet difficult to step away from.
The ambiance is alluring, but it’s important for a potential gambler to understand what they’re getting into before they walk through the door. Unlike hit movies or consumer products, the casino business is not a profit-sharing endeavor. It’s one of the most competitive businesses around, with competition from non-gambling resorts, on-line gaming, private gambling and an illegal business that is much larger than the legal, regulated industry.
Beyond the games, casinos have other attractions to offer like a wide variety of food and entertainment options. These amenities can help them attract group business. Cvent’s Competitive Ads allow a casino to target other businesses looking for venues in similar markets or sister cities, while Search ads can give them prominent exposure when event planners are searching for solutions.