Assessing Discount Policies and Practices in the Casino Industry
نویسنده
چکیده
Jordan Salmon Anthony F. Lucas Jim Kilby Michael C. Dalbor Casino executives were polled regarding their discounting practices and policies. The results indicated that casinos offering discounts to players were most concerned with a player's actual loss and least concerned about the number of hands/rounds played and the player's average bet. The extant literature clearly demonstrates that such a focus can result in substantial financial consequences (Lucas, Kilby & Santos, 2003; Kilby, Fox & Lucas, 2004). Additionally, the analysis of two discount-oriented deals offered to premium players demonstrates the potentially destructive power of discounts on casino cash flows. These results fill a gap in the literature related to the prevalence of discounts and the extent of casino managements' knowledge of discount mechanics.
منابع مشابه
An Integrated Closed-loop Supply Chain Configuration Model and Supplier Selection based on Offered Discount Policies
In this paper, a mathematical programming model is presented for integrated problem of closed loop supply chain network design and supplier selection. The suppliers propose discount policy based on purchase amount and loyalty of buyers which are both taken from the elements of RFM (Recency, Frequency and Monetary) technique. The main objective of this paper which is formulated by a mixed-integ...
متن کاملA Diagnosis of Inherent Problems in Enhancing Service Quality through Internal Marketing and Organizational Identification in Macau and Singapore Casinos
With spectacular growth in demand since opening the market to foreign competition, executives within the Macau casino industry have focused their attention on enhancing capacity and opening new casino properties. Meanwhile, the Singapore casino market, barely two years old, has already produced revenues comparable to the Las Vegas Strip. Despite stellar past successes, the long-term scenario fo...
متن کاملOptimal Strategy for the Vardi Casino with Interest Payments
A gambler starts with a fortune f < 1 and plays in a Vardi casino with infinitely many tables indexed by their odds r ≥ 0. In addition, all tables return the same expected winnings c < 0 per dollar and a discount factor is applied after each round. We determine the optimal probability to reach fortune one, as well as an optimal strategy, different from bold play for fortunes larger than a criti...
متن کاملRetailer's inventory system in a two-level trade credit financing with selling price discount and partial order cancellations
In today's fast marketing over the Internet or online, many retailers want to trade at the same time and change their marketing strategy to attract more customers. Some of the customers may decide to cancel their orders partially with a retailer due to various reasons such as increase in customer's waiting time, loss of customer's goodwill on retailer's business, and attractive promotional sche...
متن کاملManagement of Seafarers in Liner Shipping Industry
The use of Human Resource Management (HRM) practices in the form of ‘bundles’ and in integration with the business strategy of the organisation have been emphasised throughout the HRM literature. These are called the horizontal integration and vertical integration respectively. This article aim at examining the use of these practices in liner shipping industry in which human element plays a vi...
متن کامل