Loyola University Hosts Discussion on International Business

On April 10th, Loyola University’s Joseph A. Butt, S.J. College of Business presented a panel discussion on business practices and relationships between Germany and the United States (http://www.loyno.edu/news/laag/20130328/4382).  As a German who is now a permanent resident of the U.S., I was honored to be a part of this interesting and informative discussion.  I was joined on the panel by: W. Paul Andersson, Honorary Consul of the Federal Republic of Germany in Louisiana; Jeffrey A. Krug, PhD, Professor of Strategy and Chair of International Business at Loyola; and Jacquelyn A. Gross, President of the Global Business Association at Loyola.  In attendance were over 80 undergraduate students and their guests.

The evening discussion, organized by Loyola undergraduate students, focused on the necessity for young persons to spend time studying and working outside of the United States.  Differences in work culture and societal nuances were of particular interest to the audience, as many had previous experiences abroad, and many more were preparing for such.  As panelists, we all agreed that maintaining an open mind to cultural differences will be essential in today’s global economy.  Of concern to all were the legal issues and difficulties in obtaining necessary visas for international study and employment.  I, for one, am hopeful that the United States and the European Union will be able to form a trade zone in the future.  The establishment of a trade zone will hopefully open up the doors for more communication, collaboration, and interaction between the country of my birth and the country I now call home.

I was truly impressed with the students and faculty of Loyola University, and I am confident that they will be forging new territory in international business, hopefully with my native Germany.

Contributed by:

Jan Garbers

Director, Geomatics

jangarbers@tmg-consulting.net  

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Disclaimer
The views, interpretations, or strategies expressed are those of the authors, and do not necessarily reflect the position of TMG Consulting. This site is meant for educational purposes only and does not constitute professional advice. TMG Consulting makes no representation as to accuracy, completeness, or suitability of any information on this site and will not be liable for damages arising from its display or use.

At What Point Is the Casino Gaming Market Saturated?

As states such as Massachusetts, Florida, New York, New Hampshire, and Maryland enter or expand their presence in the casino gaming market, we have to ask ourselves the question: at what point will the market be saturated?

State by state, casino gaming has been legalized in the U.S.  In years where state and personal budgets are tight, the pace of legalization accelerates as lawmakers search for sources of jobs and for revenues to fund state services and programs.  With each state that has entered the fray, gaming revenues have risen.  The growing American population and the growing acceptance of gaming have fueled the casinos nationwide.  However, established gaming centers such as Atlantic City have suffered, as the majority of the nation’s population is now within a drive or short flight of a casino.

Over the past 8 years or so, I have been analyzing gaming markets across the U.S.  Most recently, I’ve been assessing the potential for expanded gaming in Florida and the Northeast/Mid-Atlantic/New England markets.  What I’m seeing and forecasting is this:  the marketplace can absorb the casinos that are currently proposed, but too much additional supply above and beyond these proposals could saturate the market.  The additions of proposed supply will certainly make competition tougher and will likely have a negative impact on existing gaming operators that don’t step up to the plate.  This competition will be great for gamers – they’ll have more options, and will be able to pick and choose where to spend their gaming dollars.

All of this makes the jobs of those in the gaming industry harder, but potentially more rewarding.  The vast potential for gaming in the United States has not been tapped completely, and smart players in the game will benefit.  In addition to building and operating facilities that gamers will like, gaming firms must consider location.  Capturing gaming dollars will largely be a function of finding the right location – build too far from the population or too close to competition, and revenues could suffer; build in an inaccessible location or one that the community is not in favor of, and no one will come; ignore the potential for synergy with other entertainment options (including other casinos!) and you might be turning away revenues.  Thorough analysis, site evaluation, and thoughtful site selection can help make the difference between building a casino that performs on-par with the market, or one that not only is a market leader, but has the ability to grow the market.

So, the answer to the question of saturation isn’t that simple.  Are we at saturation?  No.  Are we getting close?  Mabye?  Will smart gaming operators be able to grow the market?  We’ve seen it before, why not again?

Contributed by:

Suzanne P. Leckert

Director of Gaming, Feasibility & Land Use Analysis

suzanneleckert@tmg-consulting.net  or (504)569-9239 x 33

Disclaimer
The views, interpretations, or strategies expressed are those of the authors, and do not necessarily reflect the position of TMG Consulting. This site is meant for educational purposes only and does not constitute professional advice. TMG Consulting makes no representation as to accuracy, completeness, or suitability of any information on this site and will not be liable for damages arising from its display or use.