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Know When to Hold Them: Applying the Customer Lifetime Value Concept to Casino Table Gaming

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  • LISA WATSON
  • SUDHIR H. KALE

Abstract

This article considers the impact of relationship marketing in the casino gaming industry. It illustrates how 'customer lifetime value' (LTV)--the estimated profitability of a customer over the course of his or her entire relationship with a company--can be uniquely and successfully applied to improve casino profitability. Findings indicate that increasing customer retention rates for prime customers and upgrading middle-tier customers to higher-volume betting tiers can both significantly increase long-term casino profits. Implementation of such a strategy also reduces a casino's reliance on the high-risk 'junket' segment for achieving targeted revenues and profits.

Suggested Citation

  • Lisa Watson & Sudhir H. Kale, 2003. "Know When to Hold Them: Applying the Customer Lifetime Value Concept to Casino Table Gaming," International Gambling Studies, Taylor & Francis Journals, vol. 3(1), pages 89-101, January.
    • Handle: RePEc:taf:intgms:v:3:y:2003:i:1:p:89-101
    DOI: 10.1080/14459790304587
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    Cited by:

    1. Prentice, Catherine, 2016. "Leveraging employee emotional intelligence in casino profitability," Journal of Retailing and Consumer Services, Elsevier, vol. 33(C), pages 127-134.
    2. Prentice, Catherine, 2014. "Who stays, who walks, and why in high-intensity service contexts," Journal of Business Research, Elsevier, vol. 67(4), pages 608-614.
    3. Francis Markham & Bruce Doran & Martin Young, 2014. "The Spatial Extents of Casino Catchments in Australia," Growth and Change, Wiley Blackwell, vol. 45(1), pages 60-78, March.

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