Slot Machine In Casino – As the industry (and Raving’s gaming and hospitality clients) increasingly rely on data-driven decision making, we’re looking to add to our data analytics team. We are delighted to announce that Michael Minnier has joined us as an Associate Partner. You’d think it would be difficult or irrelevant to discuss topics like data analytics, artificial intelligence or big data with this super smart guy with a degree in aerospace engineering from Cal Poly, San Luis Obispo, but it’s quite the opposite. Michael always has a nice way of conveying how the answers to our questions can be found within the data we have. Our clients tell us that he looks the most sophisticated and that his enthusiasm is contagious. Who knew spreadsheets and numbers could be so fascinating? Meet Michael!
He’s passionate about all things data, and readers can expect articles analyzing future business development strategies, niche product solutions (see below), forecasting, service optimization, and marketing. Before becoming a partner at Raving, Michael led the data analytics strategy at Pechanga Resort and Casino in Techecula.
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There is perhaps no more important law in governing business than the law of supply and demand. It is hard to imagine any business model in the world that does not apply this law to optimize business profits. Casino slot machines are an exception.
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Gaming management is based on a primary metric that is commonly used in most industries: Win Per Unit (WPU). Wins per unit, whether theoretical or actual, is the average amount of wins a car can average over a specified period of time, such as Win Per Unit Per Day (WPUPD). This metric, combined with another metric called Average Home Level or Average Ground WPU, is often used as the basis for decisions about vehicle purchases, moves, theme changes, and configurations. Given the success of slot machines in most casinos, all signs point to this indicator working properly.
Worryingly, the WPU is outside the basic laws of supply and demand. Is WPU a reflection of demand? Not really. Most of the time the highest WPU is on the high-restriction autos, but you may see them played a lot. On the other hand, some cars are always occupied, but if you look at the WPU, they are well below average for the home. So, what does the WPU do if it doesn’t show the request?
Unfortunately, there is no clearly defined “need” indicator in this field. What is the demand for slot machines? What exactly are we selling? Can we quantify supply? What is the price? If we can count these things, can they be optimized? After much thought on the subject the answer is yes.
Casinos sell games, and they sell one game at a time. In blackjack they are called hands, but in slot machines they are called draws. What is the price of these drawers? For one player, whether the price is $0.25 or $25. Casinos may be a bit more crafty with pricing because of the game’s house edge or theoretical time, but it’s a little easier to think of it as a bet per round. Demand is the amount of customer attraction for any particular game, supply is the number of downloads, and price is the price per bid. That’s it! Not good.
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That’s a lot of traction if you use the total number of drawers available. If the machine can be pulled 10 times per minute, that’s 10 pulls/minute x 60 minutes per hour for 24 hours or 14,400 pulls. With nearly 14,400 games per day, even busy games are not few. Using this approach, even busy games are unlikely to see only 30% or 40% utilization. This obviously does not require a price adjustment. Additionally, EACH game has a different pull rate. Some machines pull eight times a minute, while others pull 15 times a minute. In fact, if you want to artificially increase the perceived demand, reduce the pull speed. High demand!
I would suggest that another number is needed to truly understand occupancy, and that is occupied space. The funny thing is that if someone sits in front of it, no matter what speed they play, that car is “sold” and can no longer be bought. Walk around here and you’ll see. You are viewing occupied positions at any time. Determining the number of units occupied (usage) and the number of drawers sold during that period (yield) is the best indicator of demand.
Once we have this requirement in our customer department, we can optimize the offer and pricing for our customers on features such as optimized game action, shot buying, minimum bet and house advantage. The evolution of game management to this model has enormous potential to increase revenue. By defining a new set of criteria around supply and demand, a whole new world of location optimization will emerge, and one that is truly profitable. When the books close in 2022, Nevada’s gaming equipment suppliers expect to deliver more than 13,700 new units. The machines include approximately 30 North American gaming titles, including new casino properties and expansions of existing casino floors.
Over the past few months, casino operators and gaming equipment suppliers have quietly begun to discuss ways to manage product delays, openly addressing a problem that could transform the multibillion-dollar casino industry.
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Gaming equipment suppliers assemble gaming machines using high-tech components from a variety of vendors. Gaming analysts say much of the recent attention has focused on ticket validators, devices attached to games or games that accept money or ticket receipts that are then converted into gambling credits.
Manufacturers of card validators use microchips, also known as semiconductors, to operate automated transaction technology. The business is centered in Asia and involves supply chain issues – moving equipment across the Pacific and getting it into the hands of gaming machine manufacturers.
Truist Securities gaming analyst Barry Jonas told investors in mid-May that JCM Global, which supplies more than half of the ticket validators used by the slot machine industry in Japan, “has had a major chip shortage impacting its business, and we think that will have a broader impact on the manufacturer’s pipeline this year.” .
JCM’s senior vice president, David Kubajac, said the Las Vegas, U.S.-headquartered company was “affected by supply chain competition.” He said JCM, which is publicly listed on the Tokyo Stock Exchange, faces similar industries that rely on the global semiconductor industry.
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“JCM has built a global strategic sourcing team focused on identifying and sourcing materials and components from suppliers around the world,” Kubajak said in an email. “Even in these difficult times, JCM continues to ship products every day and is focused on delivering on their track record for gaming and casino customer products.”
Gaming has become a technology-driven industry with significant research and development planning cycles, said Daron Dorsey, executive director of the Association of Gaming Equipment Manufacturers (AGEM). The need to purchase materials and components occurs long before individual elements are used in a product.
He said gaming equipment suppliers have multiple sub-suppliers and have developed different sources of components. Some of these strategic plans have changed.
“All the different companies are trying to find different solutions to find different pieces, and that’s causing difficulties,” Dorsey said. “Some may have a historical supplier of certain components in their supply chain. “If that supplier is no longer available or delayed, companies will have to go to three, four or five (suppliers) instead of just one or two.”
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Supply chain is one of the biggest concerns for the casino industry as it recovers from the pandemic, Jonas said. Gaming company leaders — operators and suppliers — believe the problem is manageable for now.
“They used the word ‘whiplash’ to describe operating in today’s environment,” Jonas said. “Today, the risk is the law enforcement officers. But what about tomorrow? “Combined that with inflation and rising gas prices and rising costs is a real concern.”
Supply chain concerns began to surface in early May, during auto companies’ first-quarter earnings conference calls.
International Gaming Technology Chief Financial Officer Max Chiara said on May 10 that supply chain delays and the spread of the Omicron variant impacted the company’s business in January, with the company making a $30 million profit in the first quarter.
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“It’s the biggest challenge we’re facing right now,” Chiara said, referring to the issue as a “prompt” to bring components to IGT.
“In our opinion