Top 4 most-read stories in AGA SmartBrief in October

Others could learn from Harrah's sophisticated rewards program
Harrah's customer-rewards program generates $6.4 billion for the company each year and is often praised as the leading loyalty program in the industry -- and this piece offers some ideas you might want to try to boost revenue. Harrah's program tracks customer's purchasing habits and preferences in order to determine the most effective rewards -- and leverages this intelligence to drive revenue. Advertising Age (10/5)
Consumer confidence, Las Vegas both take hit
A bleak jobs outlook pushed consumer confidence down in October, according to the Consumer Confidence Index. The decline to 47.7 was unexpected and put the index at its second-lowest level since May. Meanwhile, gamblers cut back on spending, and casino companies in Las Vegas took a hit on their bottom line for the third quarter. "The landscape in Las Vegas is troubling, and it's rife with uncertainty," said Steve Wynn, chief executive officer of Wynn Resorts. The New York Times (free registration)/The Associated Press (10/27) , Google/The Associated Press (10/27)
Technical glitch, slow response blamed for slot thefts
A software glitch on a poker machine in Pennsylvania, combined with manipulation of the machine to display incorrect jackpots, led to fraudulent winnings that weren't discovered as soon as they could have been, according to some. Such glitches are "not at all uncommon," said Ken Braunstein, a security consultant and former associate professor of criminal justice. But, he noted, the problems are often found quickly by experienced security personnel. Pittsburgh Post-Gazette (10/8)
Cost to finish Fontainebleau would exceed its value, observers say
Some companies considering the purchase of the bankrupt Fontainebleau casino and resort in Las Vegas say the value of the development may not be worth the cost to complete it. "It is going to take $1.2 billion to $2 billion to finish Fontainebleau, and it's not worth that much," Penn National Gaming Chief Operating Officer Tim Wilmott said. Some of the prospective buyers also note that Las Vegas has an oversupply of luxury rooms. Meanwhile, Penn National has offered up to $30 million of debtor-in-possession financing, which it hopes will give it an advantage in bidding for the resort. The Wall Street Journal (10/12)

This story published in AGA SmartBrief a G2E production on 11/03/2009

Cost to finish Fontainebleau would exceed its value, observers say

Monday, October 12, 2009

Nev. officials don't want government to penalize Las Vegas

Tuesday, July 28, 2009

CityCenter will boost Las Vegas economy, CEO says

Monday, September 21, 2009

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Designed specifically for gaming industry executives, AGA SmartBrief is a FREE daily e-mail newsletter produced in partnership with the American Gaming Association and the Global Gaming Expo. It delivers must-read casino-entertainment industry news directly to you each weekday. Learn more