MGM Springfield fires President/COO and CFO (Boston, Hanson: sales, hotel)

[GeoffD]

I’m kind of wondering about the 2,500 casino jobs that started out as 3,000 jobs when the hype machine was running full throttle. If you’re doing half your projected revenue and you bring in an ops guy from flyover country to run the place, you’d think they would align payroll with revenue. It’s not like they can entice customers away from all the other casinos. Who in the Boston metro would bother? Same for the NY metro. Western Mass doesn’t have the population or the prosperity to do it with locals.

[timberline742]

Originally Posted by BostonMike7

Yes, but they aren't quite big enough to draw major artists. Like said, they can bring in artists that were popular 30 years ago, but you aren't getting a current act in there or anyone to draw the 20-something year old crowd in.

Well, is that critical? I mean. Generally, people my age have more disposable income than someone 25 years younger. I would think a, say, Duran Duran or heck, even Tina Turner or Rod Stewart (even older demo) would bring in people with more money that are more likely to gamble than someone appealing to early 20s somethings. I suppose Pitbull is a bit younger than Duran Duran, so what's that for, 30 somethings mostly? That may be a sweet spot.


I am fully willing to admit that I could be very very off on this, but I would think to drive gambling revenues, older with more disposable is more desirable. If drinking revenue is the focus, that would be on younger. No?

[BostonBornMassMade]

Originally Posted by GeoffD

I’m kind of wondering about the 2,500 casino jobs that started out as 3,000 jobs when the hype machine was running full throttle. If you’re doing half your projected revenue and you bring in an ops guy from flyover country to run the place, you’d think they would align payroll with revenue. It’s not like they can entice customers away from all the other casinos. Who in the Boston metro would bother? Same for the NY metro. Western Mass doesn’t have the population or the prosperity to do it with locals.

wasnt it more like 3300 jobs?

[GeoffD]

Originally Posted by timberline742

Well, is that critical? I mean. Generally, people my age have more disposable income than someone 25 years younger. I would think a, say, Duran Duran or heck, even Tina Turner or Rod Stewart (even older demo) would bring in people with more money that are more likely to gamble than someone appealing to early 20s somethings. I suppose Pitbull is a bit younger than Duran Duran, so what's that for, 30 somethings mostly? That may be a sweet spot.


I am fully willing to admit that I could be very very off on this, but I would think to drive gambling revenues, older with more disposable is more desirable. If drinking revenue is the focus, that would be on younger. No?

So Boomer music from the 75-year-old one hit wonder musicians who haven’t died yet? It’s geriatrics shoveling their Social Security check into the slots that makes casinos go in a place like Springfield. “Afternoon Delight”. Bill Danoff is still alive and he’s a Springfield native. LOL

[GeoffD]

Originally Posted by BostonBornMassMade

wasnt it more like 3300 jobs?

Maybe. One could speculate that there are probably pink slips coming. If you’re doing 50% of your projections, you have to control costs and labor is the big one.

[BostonBornMassMade]

Originally Posted by timberline742

Well, is that critical? I mean. Generally, people my age have more disposable income than someone 25 years younger. I would think a, say, Duran Duran or heck, even Tina Turner or Rod Stewart (even older demo) would bring in people with more money that are more likely to gamble than someone appealing to early 20s somethings. I suppose Pitbull is a bit younger than Duran Duran, so what's that for, 30 somethings mostly? That may be a sweet spot.


I am fully willing to admit that I could be very very off on this, but I would think to drive gambling revenues, older with more disposable is more desirable. If drinking revenue is the focus, that would be on younger. No?

They have probably maxed out the older crowd. That's the crux of the issue. The novelty has worn off. THey need to drive revenue in other ways, they want to diversify their offering which isc scary because they are 1.5 years old. They're bringing in about half of what they thought they would-its unlikely the casino rally sees a jump in revenue in its current format. THeresa casino

I don't think they really want the younger springfield area crowd but a younger high spending crowd would bencie it just isn't there and even when it is like in Boston, it still doesn't hit revenue expectations.

There's a casino just outside Washington DC that cost 45% more.( It cost 1.4 Billion to build MGM national Harbor. It costs $960 million to build MGM Springfield) to make but bring in more than 3x as much money monthly.

Last month they made 62.6 million https://wtop.com/business-finance/20...ino-dominance/

Boston casino made 8 million less than that after cutting back prices and parking fees and cost twice as much to build. The environment in MA is not casino friendly.

[timberline742]

Originally Posted by GeoffD

So Boomer music from the 75-year-old one hit wonder musicians who haven’t died yet? It’s geriatrics shoveling their Social Security check into the slots that makes casinos go in a place like Springfield. “Afternoon Delight”. Bill Danoff is still alive and he’s a Springfield native. LOL

One hit wonders? Tina Turner?


Anyway. If they fill the place, and I bet they do, good for them.

Originally Posted by BostonBornMassMade

Boston casino made 8 million less than that after cutting back prices and parking fees and cost twice as much to build. The environment in MA isnot casino friendly.

Yeah, I never got the vibe that New England in general was a casino crowd. I always felt the CT stuff had more NY related crowds, but I don't know, that's not based on knowledge, casinos aren't something I "get".. People travel from MA to them of course, but at least with people I know it was for shows.

[in_newengland]

No, I don't think New England is a casino kind of place. Some seniors do take bus trips to casinos but other than that, you just don't hear much about casinos. I'm from the Springfield area and will be going to my first casino but it's Foxwoods in CT because they're having a great concert--a group that's doing an international tour. I plan to see the show and then go home--no interest in gambling.

[BostonBornMassMade]

Baltimore's casino which cost 442 million to build made $18.7 million last month. (In a city with 348 homicides and 48,000 vacants)

Springfield's casino which cost 960 million to build made $18.9 million last month.

Baltimore's casino is 5.5 years old. Springfield's is 1.5 years old.

This doesn't look good.

[GeoffD]

Originally Posted by timberline742

One hit wonders? Tina Turner?


Anyway. If they fill the place, and I bet they do, good for them.

You think Springfield can draw a Tina Turner? I thought Starland Vocal Band and Afternoon Delight was a stretch. Thanks to Good Will Hunting for reviving that awful thing. Matt Damon’s contribution to earworms. How about Village People? Y. M. C. A.