You've addressed the negatives that have occurred in Vegas due to the epidemic (higher table minimums, less buffets, etc.). Strictly from the business aspect, do you see any positives?
This is one of those questions we receive on occasion that, because it's somewhat ambiguous, the response can go in different directions. Perhaps we're a bit dense at the moment and missing something obvious, or maybe it's because we're answering it only a few days after the end of the Global Gaming Expo, which was all about the business of gambling, but we'll take a stab at this and if we're off base, we're sure those of you who are more on the ball than we are will let us know (and in no uncertain terms).
One of the aspects of the pandemic that has had a positive effect on the business of gambling, at least in our admittedly non-smoking opinion, is the accelerated movement toward banning cigarettes and cigars on the gambling floor. This has been happening in every other walk of life; whole cities and entire industries have banned smoking indoors and at the workplace. And that, ironically, includes casino-corporation headquarters, where smoking is decidedly verboten in the office, though not in their stores.
Park MGM seems to be doing just fine since it banned smoking; plenty of other casinos around the country, particularly tribal operations, are as well.
We rarely take sides on issues, but to us, it's notable that even a sizable percentage of smokers have indicated in polls that they'd prefer casino air not be exempt from indoor smoking bans and that they'd be happy to step outside to get their fix. That was certainly seen in Atlantic City for the full year, from June 2020 to June 2021, that smoking was banned in the casinos. And given that COVID is, first and foremost, a respiratory illness, this seems like as good a time as any to complete the process by including casinos.
Another related business aspect that has improved due to COVID concerns increased space, beefed-up ventilation, and enhanced cleanliness in the casinos. Fewer machines and seats at tables are obvious, while ventilation and cleaning procedures are less so. When the casinos reopened 16 months ago, casino staffs were cleaning and disinfecting with a vengeance; these days, there seems to be less of that going on, but it's still happening.
Similarly, there's been a big push toward contactless technology, particular in payment systems via cashless options with smart cards that contain small but sophisticated computers and communicate with card readers wirelessly via short-range radio frequency. G2E was chock-a-block with payment providers hawking their cashless solutions. How long they take for acceptance the gambling public is a separate question. Also, cashless might or might not be a positive aspect for consumers, but we do note that it's being compared to TITO replacing coins. In the generally slow evolution of casino tech, that happened fairly quickly.
Finally, and to cover the obvious positive for the casinos themselves, profits are through the roof from noticeably fewer players. The question that interests us -- and a few of you who've submitted questions about it -- is why. We'll tackle that in tomorrow's QoD.
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rokgpsman
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VegasVic
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Doc H
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Lotel
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Gene Brown
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Doc H
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Adam Cohen
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Patricia
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Gracen
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