Many casinos have failed to change with the times.
Caesars, I believe, has been caught in this trap at many of it's properties.
Over-staffing and overpaid execs, who make questionable
contributions to the company.
Been happening for some time now, even as business declined.
CEOs who are most concerned with their own salaries, and do little
to make necessary cuts at management level - especially within
senior management.
The cuts in staffing that they are most inclined to make are at the lower paid, hourly positions.
People who are in the front line of customer service.
They often cut these positions to the bone, citing the high cost of benefits, etc.,
and the company suffers along with their customers.
Here's a small example at one of Caesar's properties on Derby Day.
Race/Sportsbook business was through the roof on Saturday with
the Derby in the afternoon, and the big fight that night.
Lines to place bets were huge - like they were 20 years ago.
Trouble is, staffing is a fraction of what it once was.
It became "survival of the fittest" to get your money down.
Two ticket writers I spoke with on Sunday had worked 12 and 16 hour shifts.
That's life at a Caesar's property these days.
A history of mismanagement has caught up to them.
The number crunchers with the REIT companies will do
their very best to make it all look okay, though.
