Years ago it was standing room only. The track was bustling with excitement and bettors were climbing all over each other to get to the window and place their bet before the next race. Handicappers, number pickers, touts lurking around every corner…
Then things began to change… OTB, telephone betting, sports book, the Internet… suddenly there weren’t as many warm bodies as there used to be. Great minds got together and figured there had to be a better way to fatten the purses, spruce up the facilities and keep the track on solid financial footing.
The states chimed in because they were looking for new ways to help balance their budgets. They needed more revenue too. Enter slots and VLT’s. Sort of like the old Reese’s Peanut Butter Cup® ad where the chocolate and the peanut butter bump into each other and emerge as one enhanced product.
Suddenly your biggest worry isn’t just getting people to the track… it’s figuring out how to encourage your guests to stay longer,* place more bets, increase handle… to sum it up you want them to give you the biggest profits at the lowest possible cost. You don’t want to trade in one kind of a player for another.
*Here’s a little side tip from one of our racing fans. “How about offering $1 beers between the 5th and 6th race, it’d be a nice thing to do... and it wouldn’t be a bad idea to clean up the restrooms!” Joey M. Queens, NY
Slot machines and VLT’s have changed everything. You’ve got to leave the gate running and never look back. Your first job is to bring bodies on property! Once you do that the race has begun!
Attracting new race fans and slot players, launching a players club, acquiring members and building loyalty amongst all your visitors requires a whole new mind set.
In a sense you are uniquely positioned… you’ve got the best of both worlds. You’re a race track and a casino. You’ve got something for everyone. However the key lies in satisfying seemingly diverse universes.
Many Racinos are struggling to define their niche. Too many properties are giving away too much to bring new players through the doors. It’s a vicious cycle. Your business is similar to a traditional casino but it's not the same. Perhaps your greatest revenue is (or will soon be) generated from slots, but you can't ignore handicappers, their family and friends and their potential worth. Heck, they built the place and they expect a lot of value for their money.
Think about the demographics of your player base. Add in psychographics and the fact that many of your best customers have no interest at all in slots. It’s not their thing. It may never be. But don’t despair because…
There's a lot you can do to stimulate play for both markets individually as well as create a synergy that allows each market to “feed the other.” Specific tactics, strategies and flawless execution will help you meet your marketing objectives.
We know racing fans and we know slot and VLT players. Let us help you achieve the ROI you need from both these markets. Make sure to ask us about Household Synergy.
Call (800) LUCKY SLOTS or contact us at: Racinos.
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