Caesars CEO Gary Loveman explains how Regional Casinos help Vegas
A decade ago, the United States’ gaming market was mostly dominated by Las Vegas, Atlantic City and various tribal casinos. However, this has changed in a major way, with “regional casinos” now popping up in many states across America.
Companies like Caesars and Boyd Gaming have aggressively expanded to grab more markets throughout the United States. Most people’s first thought about this would be that it’s hurting Las Vegas, America’s crown jewel of casino enterprise. But according to Caesars CEO Gary Loveman, this is actually the opposite of what’s true.
In an interview with Bloomberg, he explained that regional casinos drive gaming back towards Vegas. “So you’re a Cleveland guest, you’ve been treated very well by our place there,” Loveman said. “You want to go to Las Vegas, you have two options. You could just be a traditional purchaser online like my competitors are offering, or you could call your Cleveland host and engage with his or her colleague here and arrange exactly what you want, the right check-in experience, the right room type, the right event access. And that’s the proposition we want to deliver.”
Loveman, a former marketing professor at Harvard, has used this philosophy to keep Caesars’ properties competitive, despite a lengthy recession in the United States that’s been going on since 2008.
In recent years, Caesars Entertainment has expanded to Indiana, Mississippi and Ohio, as well as developing an international presence in Canada and Uruguay. Of course, their biggest business remains in Las Vegas, where they currently own Caesars Palace, Bally’s, Paris and the Flamingo. But it appears that they’ll continue trying to boost business in Las Vegas by reaching out to further-away, smaller markets in other states/countries.