Why Expansion Projects Falter
Several years ago a casino embarked on a significant expansion of its gaming floor as well as non-gaming amenities, including new restaurants, movie theatres and a showroom. First it hired a reputable firm to conduct a feasibility study to determine if the project and all of its components were feasible. The consulting team that authored the feasibility study analyzed the local and drive-in markets, addressed new cachement areas, conducted demographic and psychographic analyses of those markets, determined which segments of the population in those markets would be attracted to the new amenities and prepared its forecast. The feasibility study also addressed future amenities, including a hotel and retail outlets, and advocated the development of a master plan.
Leadership used the feasibility study to secure financing for the project. They then assembled a design team including an architect, engineering firm and interior design specialists to build the facility along with in-house professionals from operations, entertainment and marketing to manage the opening and subsequent operation of the expansion.View Full Article Read More