RE:Well you leave for a few days....Good to have you back Sage!
I normally don't "work" on Sundays but I lost three days last week due to renovations being done here and it was noisy beyond belief. I just could not concentrate. I thought I would exceptionally do some work today as I want to send GH a presentation and rational for a broader operating company to reinforce our competitive advantage. I'm seaching for an older post of mine for a specific piece of data and I came accross your post. I figured I may as well provide you with how I see it and then get on with the project at hand.
Concerns on food
Whatever type of food and food experience (and we are taking plural here as variety is key) is selected must be catered to the local customer base you are trying to attract. We don't want to offer something that does not have a market for it. We must know the market first.
It must also be high quality food, superior ingredients, elevated atmosphere, superior customer service and price cannot make our customers file for bankruptcy. I always come to the same description for the customer that we should focus on and that is "foodie". Foodies like new food, different food, a variety of food, in a social atmosphere that can be enjoyed with friends. The sociability aspect is very important. Foodies like to eat and talk. That is why food and atmosphere and customer service are so important.
By design, this is not the typical GH customer. We need to attract different customers. Young, sociable, progressive, foodie culture. There is a high disposable income in that group. This is a diversification of customer base and the food experience will draw that demographic in but it needs to be done really, really well. They don't like the same old, same old.
Satisfying the needs of customers
This is too primitive, too simplistic. Of course business can do this but why stop there. The market wants more. Have we not learned anything from Apple, Amazon, Google, Facebook etc?
The company that can offer more that just satisfying the needs of the customer will develop a large compettive moat and have superior margins and free cash flow generating capabilities. A competitive advantage is either strengthening or it is weakening. If you are weakening you will eventually fade away and be replaced by competitors that "get it" and offer great products and experiences.
What is Gamenost?
GH offers and entertainment driven casino model and not just casinos. People that are attracted to the gambling in casinos only can do so online. GH is different. Concert, shows, comedy acts, dances, food. This is a different customer.
Now there is another type of person that will not go to a casino for fun. Even an entertainent driven casino. That is who I want to target. Food is the key. The "foodie" like to eat great food but also likes to talk. Very sociable. It is about food and friends. Not food and gambling. What I am saying however, is that food and friends will over time lead to more casino revenues becasue, after all, when you keep seeing the casino a few feet away from your new "foodie venue" and your are with your group of foodie friends, it only take one of them to suggest "lets go see".
I love your questions Sage and I love talking business.
I won't be tuning in to the board for about a week as I'll be competing the presentation for GH.