Strategic Planning

Most casino owners, whether they are public corporations, Tribal entities or individuals, have a vision for their casino(s). Transforming that vision into bricks and mortar requires a Strategic Plan. The benefits of strategic planning are obvious but the challenges and obstacles in the planning process are numerous and often difficult to overcome. GMA explores those challenges and details how they can be overcome.

The Strategic Planning Process is complex. It relies on a keen understanding of trends in the marketplace, the changing needs of consumers, actions taken by competitors, a certain tolerance for risk, access to capital markets as well as a healthy dose of gut instinct and intuition. When done right, a sound Strategic Plan will allow the gaming enterprise to grow and flourish, provide jobs to the community and a steady stream of revenue.

The methodology that comprises the Strategic Planning process is equally relevant to the operator that is planning to replace a temporary gaming facility, expand an existing facility, develop an entirely new resort or simply to plan, and implement the suite of capital improvements necessary to keep the property fresh and attractive.

The Strategic Plan follows a very deliberate course: goals are established by a committee consisting of casino management, senior leadership, often member(s) of the Board of Directors, and, in the case of Tribal Gaming enterprises, a Business Council that oversees the Tribe's various enterprises. Those goals may include the development of a new gaming property, a hotel, or a series of capital improvements that will allow the casino to attract new market segments and give the casino a sustainable competitive advantage.

From there, casino leadership formulates strategies which are delineated in a Five Year Business Plan, a Development Plan, a Capital Plan that outlines where funding will come from to fulfill the Development Plan, and finally, a series of annual Operational Plans. Each year, the Five-Year Plan is adjusted to better match market conditions and a new Operations Plan is formulated to maximize revenues and minimize expenses. Capital improvements take place on schedule according to the Development Plan and funded by a combination of debt and equity, as detailed in the Capital Plan. The casino enterprise continues to evolve and improve, while revenues grow.

Gaming Market Advisors has the expertise to assist the gaming enterprise in the development of its Strategic Plan, mediate the needs and expectations of the gaming enterprise's various stakeholders, and help the gaming enterprise stay on track through the planning and implementation process.