Earlier today, Echo Entertainment Group posted its financial results for the six-month period ended December 31, 2014. Matt Bekier, CEO of the gambling operator, pointed out that its flagship venue The Star helped the company double its profit during the above-mentioned period. He also stated that the casino’s targeted marketing will be boosted further. What is more, it will also be funded additionally in the course of the next few years.
The Sydney-based casino was said to be the main contributor to Echo’s 111% increase in net profits. The company generated the amount of AU$ 97.1 million for the period between July 1 and December 31.
A total of AU$870 million were invested in The Star’s refurbishment, which started back in 2009. The venue’s EBITDA amounted to AU$$340 million this year. Echo’s CEO stated that it had finally managed to reimburse the money that was spent on its renovation.
Mr. Bekier told local media he was really proud of the fact that the venue has been performing so well. He also said that the best is yet to come and his employees are working very hard, so as to be able to provide the company’s customers with the best possible services.
Currently, The Star has no competition in Sydney. But this is to change in five years, when James Packer’s Crown Sydney, a AU$2-billion hotel and casino venue at Barangaroo, is planned to open doors for visitors.
Mr Bekier shared that Echo’s new loyalty program is probably one of the reasons why The Star performed so well in the six-month period ended December 31. But he also pointed out that the operator should revise the afore-mentioned program, so as to ensure that it will not lose its customers once Crown Sydney is launched.
Generally speaking, Echo’s loyalty program offers points and certain discounts to customers who visit the company’s venues more frequently. Reportedly, up to 8,000 players sign up to Echo’s program every month. Mr. Bekier stated that more could be done so as for these customers to remain active in the years to come.
The company’s CEO also shared that they are planning to invest a considerable amount of money in technology for better communication with its customers. The loyalty program database includes information about when players visit the casinos, what kinds of games they prefer, and the food they order. Up until now, Echo has not considered using this information to create special target offers, but it seems that this is about to change.
The gambling operator is also determined to further refurbish The Star in the course of the next five years. A total of AU$100 million will be invested each year. The money is to be spent on renovation of the private gaming rooms and on the establishment of new restaurants and other food and beverage facilities.
