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Q3 NEWSLETTER, G2E EDITION | September 20, 2016
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With G2E just days away, The Innovation Group is looking forward to speaking at several key panels. Come join us in Las Vegas for the following sessions:
Visit us on the show floor at the American Gaming Association's new
Innovation Lab in booth #2848A.
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INTRODUCING
INNOVATION ANALYTICS
by Michael Soll
The Innovation Group is currently embarking upon the launch of Innovation Analytics. Innovation Analytics is the data analysis and new technologies arm of The Innovation Group. Leveraging the Company's experience working with industry operators, technology developers and investors, Innovation Analytics uses quantitative methods as the key to unlocking business insights in management, strategy, and marketing. Through our cutting-edge technical expertise in statistics, econometrics, and big data, we steer our problem-solving approaches with the power of quantifiable and testable business knowledge to generate new sources of revenue at a lower cost.
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BEST SUNSHINE LIVE CASINO A SUCCESS
by Michael Zhu
The Innovation Group would like to congratulate our client, Hong Kong-listed Imperial Pacific International Holdings Limited, on their continued success and accomplishment at the Best Sunshine Live casino in Saipan, the Commonwealth of Northern Mariana Islands (CNMI). For the first seven months of 2016, their temporary property has generated a rolling chip volume of US$15.22 billion, representing an average of US$2.17 billion per month or more than 5% of Macau's total VIP rolling chip volume during the same period of time.
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The Innovation Group Introduced Brazil Gaming Forecast Model and Consortium
by Michael Soll
In August, The Innovation Group announced the development of a national gaming forecast model for Brazil, and the formation of a consortium with Brazil-based BetConsult and Federico Lannes IGC, to bring clients comprehensive gaming regulatory and development services in Brazil.
With over 200 million inhabitants, Brazil is one of the largest untapped gaming markets in the world. Brazil's most recent effort to address gaming represents the most ambitious since its prohibition 70 years ago. Standing legislation would allow both destination casinos and bingo halls (similar to slot halls), and potentially online gaming opportunities.
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The Importance of Fine-Tuned Forecasting Models
by Stephanie Adkison
A feasibility study is an investment in itself; as such, it is crucial to engage a consulting firm that has proven accuracy within the industry. To offer consistently accurate forecasts, The Innovation Group continually monitors how closely our forecasts match actual results, to apply lessons learned and adjust modeling inputs. This process ensures that we investigate and learn from any discrepancies, updating our modeling to reflect each market's ebbs and flows. As a result, The Innovation Group's models are constantly improving, as we frequently track and take the opportunity to learn from these comparisons. The following table shows the results we have tracked over the past 15 years.
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Santa Ana Star Casino's New Hotel
The Santa Ana Star Casino is proud to announce the ground breaking on its new hotel, which is part of an expansion that also includes a casual dining steakhouse and espresso bar. In 2016, The Innovation Group provided a hotel market assessment for a proposed hotel. The $50 million project broke ground this year and is expected to last two years in development. JCJ Architecture will design the hotel, and Jaynes Corp. will be the project's general contractor.
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Ho-Chunk's Wittenberg Casino Expansion
The Ho-Chunk Nation has announced a major expansion at its Wittenberg casino, featuring a new 86-room hotel, new food and beverage venues, and table game operations. The Innovation Group performed the feasibility study for the project. Included in the study was a return-on-investment analysis which allowed the Nation to right-size the program among development proposals at the Nation's other casinos.
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Karuk Tribe's Rain Rock Casino
The Karuk Tribe has begun construction on its long-in-coming casino project. For Phase 1, the casino will feature 500 gaming machines, eight table games and a 100-seat restaurant.
The
Innovation Group provided a series of market assessments over the course of three years as the Karuk Tribe's building program was refined and their trust application was processed. In addition, we participated in a number of conference calls with potential lenders discussing the market and the assumptions and results of our assessment.
"We are excited to be able to provide over 300 new jobs to an economically starved county. At the same time, the Karuk Tribe is building 34 new homes. The timing couldn't be better."
-- Buster Attebery
Chairman,
Karuk Tribe
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EVENTS & CONFERENCES - See which upcoming trade shows TIG will be attending in the next few months.
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COMPANY NEWS - Out of the Denver office, Michael Vanaskie has been promoted to Director of Operations Planning, and Marie Casias has been promoted to Manager of Marketing & Administration. |
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Stay Connected with The Innovation Group:
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For more information, contact:
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Michael Soll
President
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Thomas J. Zitt, Ph.D.
Executive Vice President,
Strategic Planning
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David Rittvo
Executive Vice President,
International
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DENVER | ORLANDO | NEW ORLEANS | ASPEN | NEW YORK
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Copyright 2016. All rights reserved.
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