OLG Slots & Casinos Patron Based Slot Strategy

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1 OLG Slots & Casinos Patron Based Slot Strategy 2012 Canadian Gaming Summit

2 OLG OLG s Patron Based Slot Strategy How did we achieve it? What were the next steps? Where do we go from here? 2

3 OLG Slot Strategy In 2009, OLG re-evaluated our existing slot strategy to ensure it was patron focused and sustainable With many locals market properties, sustainability and a long term strategy were key Technology, Competition, and a shift to low denom games made a new strategy necessary Marketing patron data and focus groups were all telling the same story.players wanted more time on device. 3

4 Slot Product Strategy Price Configuration Options Theme Location Line Count Bets / Line # Reels Top Award Volatility Hold % The 3 key areas of focus were hold, pricing, and volatility. Properly addressing all 3 will give the patrons what they were asking for 4

5 Slot Strategy: What is our focus? Hold Strategy Get within the hold range based on average bet Pricing Strategy Have max bets at 2X 3X average bet while monitoring WPU and Utilization Game Mix Have the proper game mix (denoms, Reel/Video, multi denom, volatility, fixed bet, ect) at each site. Dashboard will show where we are and where we are going Providing sites with data that is relevant

6 What Changed? In 2005, we didn t have many of our popular penny or 2-cent games When players migrated to lower denom games, they were playing games with a higher hold percentage.thus increasing hold. With increased competition and more sites, most of the sites that were considered under-serviced, were no longer under-serviced All Marketing data was showing that players wanted to get value for their dollar. Time on device was the key focus Local market players with a fixed bankroll want to stretch play on their budget

7 Hold % Hold Background The goal was to identify the optimal hold % on every slot machine at every site based on its earning potential and market placement. Original strategic intent was to reward higher average wagers with lower holds across different identified market segments based on proximity to major urban areas or Ontario borders. higher wager = lower hold, lower wager = higher hold More and more lower denomination games with high max bets naturally raised the hold on floor, thus creating an environment with tighter games and in some cases less time on device for our patrons. 7

8 Slot Hold Strategy Concerns What Did we Ask Ourselves? Are our present hold percentages encouraging new players to come back? Will the growing increase of popular of lower denomination games continue to raise the overall hold profile at our sites under the existing strategy? Is having our travelling players experience different strategies at sites a problem? Do we need different strategies for different locations? Short-term focused management incentive schema, but long-term product strategy. How much is it reasonable to lower our hold percentages knowing extra coin-in will be required to offset any net win loss? 8

9 Price Price Pricing is a big driver for time on device. By limiting the amount a patron can wager, you can lengthen their stay. Pricing is evaluated on a game by game basis A Max Bet of 2X-3X average bet at the machine level provides the site flexibility to accommodate high rollers who prefer certain machines and generally bet in excess of the denomination average. 9

10 Price Max Bet Management This will show sweet spots and let us know where we are missing the mark 10

11 Roll Back Side Mount Creative For games in which we lowered max bet, we used this signage to show players that the price of the game had changed.

12 Volatility Volatility Proven to be the largest driver of time on device under fixed bankroll simulations on basic pay tables. Each vendor calculates differently and it is sometimes difficult to attain concrete conclusive evidence as game complexity increases. Need to be aware of setup options when purchasing machines and work the vendors to have Low/Med/High classifications to help balance the floor. 12

13 Configurations Hold & Pricing Slot Operations Review / discuss any current order with site Review game configurations, line bet Hold % within specified range - review Product offerings, low, med, high volatility assessments Review product offering denomination Quarterly review with the site Discuss trends with sites / what's working / not Discussions on Denomination mix, Vendor/Platform mix, Top award Discussions on Reel vs. Video mix, # of games on the floor 13

14 Providing sites with data that is relevant Monthly hold and pricing information Top themes and configurations Optimal game floor mix New game performance metrics + 0r 5% reports Access to field slot operations team Non complaint/ vendor obsolesce tracker Slot machine performance by vendor and denomination Lease performance metrics

15 Example of Strategy While the OLG slot strategy is consistent, the game by game drill down allows the strategy to cater to the different players in the different markets Example: Slot Machine XYZ is being installed at Site A (high occupancy, high win site, high average bet) and at site B (low occupancy, low win site, low avg bet). This game is being installed at both sites as a 50 line penny game. Here is how the strategy can differ from site to site: Site A similar games have a $1.60 average bet. XYZ will be a 50 line penny game with a 90% payback and 500 coin max Site B - similar games have a $0.80 average bet. XYZ will be a 50 line penny game with a 92% payback and 250 coin max 15

16 Why is it Important Most of the OLG sites are locals markets Short sighted strategies aimed to "get the money fast may prove successful in the short term but won t be sustainable. A patron focused strategy will get the patrons to visit the casinos more and not less. This will improve the player experience, drive revenue, and beat the competition Many patrons visit the casino on fixed bankrolls and don t want to lose that money in the first few minutes. A patron focused strategy with a fair hold %, reasonable max bets, and the correct pay table would slow down the rate at which players are losing and thus give them more time on device. Let the players tell us what they want not us telling them

17 Result from the first year Theo Hold and Actual Hold - trended down, but only slightly Duration per Session (Carded) - increased Total Carded Duration - increased significantly, the result of increases to both Duration per Session and total number of Sessions Win per Visit (Carded) - decreased Carded Visits - increased Utilization (occupancy) - continues to increase year over year Average Bet (Carded) - decreased slightly Slot Win - remained the same

18 Conclusion from Results Despite decreases in Hold, we experienced increases in both Duration per Carded Session and Total Utilization while maintaining Net Win approximately to plan. As the Slot Hold Strategy has been fully implemented, it appears as though we are achieving a positive impact on the overall player experience. 18

19 Results from an OLG Slot Hold % Slot Utilization & Carded Avg Bet While the hold and the average bet slightly decreased, the utilization and net win increased. 19

20 OLG Site Rolling 12

21 Total Carded Duration The Total Carded duration continues to increase This would show that the players are getting increased time on device

22 Patrons Visiting Other OLG Locations Need for Consistency

23 Game Mix The OLG Ace Team has provided Slots with a gaming dashboard for each site This dashboard consists of data from the current floor as well as recommendations on an optimal future floor that maximizes patron demands The hold, pricing, and game mix strategy all allow for the sites to cater to our top Players..and the need for the Gambler games. The game mix focuses on play time and revenue and is a moving target Example penny games with 20% Coin In and 40% Handle Pulls would have an optimal mix of 30% of the floor using a 50/50 slit Optimal Game mix calculations can be adjusted and can be modified to be site specific

24 Slot Strategy 1.0 Advantages All sites consistent Strategy addresses low denom games Vendors understand our strategy Pricing strategy keeps max bets reasonable Coin In and Utilization increase as a result of lower slot holds High end hold max keeps sites from putting holds at 13-15% Disadvantages Some games can t get within strategy Some vendors don t offer the hold ranges we prefer Strategy was to just get within a range and not necessarily be strategic Sites with high utilization and low utilization are using the same strategy May be missing revenue opportunities by having slot holds too low on some games

25 Analysis of Strategy Key Findings Games with a low hold generally have a higher utilization (occupancy) while games with a higher hold have a lower utilization. Games with a higher hold generally have a high WPU but have a low Utilization and Coin in. The games within OLG hold strategy seem to be hitting the sweet spot and meeting player demands while also having a favorable WPU Low denom games with low average bets have higher WPU with higher holds while the Utilization is virtually the same, regardless of hold (*Revenue Opportunity*) As avg bet rises, the utilization/occupancy difference in hold is noticeable While the high hold games are the most profitable at the high utilzation sites, the low hold games are actually the most profitable at the low utilization sites

26 Going Forward - Slot Strategy 2.0 Once the sites were within strategy for awhile, we then shifted our focus to strategically aim at increasing revenues without affecting the patron experience in a negative manner All decisions made were data driven and not just ad hoc decisions By analyzing data we can determine where we are succeeding and where we are missing revenue opportunities. It is important to recognize differences in patron demographics and preferences at all 19 OLG sites All OLG sites were mandated to be more strategic in setting (and changing) the hold percentages of slot machines

27 Going Forward - Slot Strategy 2.0 The highly utilized low denom games provided revenue opportunities - Hold on these games were geared to the high end of the strategy range Higher utilization sites needed to be more aggressive in having holds towards the high end of the strategy while lower utilization sites did the opposite An ideal floor allows for patrons to get additional time on device on the plow horse games while OLG can maximize revenue on the stars Strategically increasing the hold on the highly utilized games will increase revenue and have a minimal impact on overall site time on device and utilization Strategic hold adjustments will also show an increase in the overall site hold without having to make changes to the entire floor Analyzing all PAR sheets gives us more information on what games work at various sites Why do patrons like certain pay tables and not others?

28 Hit Distribution The hit distribution below shows how games with a similar payback % can have the hits distributed differently Knowing what your players prefer is key Give the patrons what they want -not what you think they want 28

29 Trending Trending is important to stay ahead of the game Data will show when games are starting to tail off even when their overall performance is still positive This data will show honeymoon periods for certain games Decisions on new game purchases and conversion kits will be made easier by using trending data Trending is important for leased games to ensure they are meeting the revenue targets for premium products 29

30 Leased Game Trending Example Leased Game Trending Leased Game Trending: This Game has have had the performance decline since it has been installed. This game performance has consistently declined since install Sex and the City 6 Month Performance Trend (Feb -July 2011) $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $ $ $ $ $ $ $ $ Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 37% 36% 35% 34% 33% 32% 31% 30% WPD Standard WPD Theo WPD Utilization 30

31 Leased Game Trending Leased Game Trending Leased Game Trending only 3 months data and already seems to be declining rapidly. We should start discussing a plan This game performance has consistently declined since install to replace these 2 games. Game XYZ Monopoly Performance Trend (May-July 2011) $1, $ $ $ $ $ % 35% 34% 33% 32% 31% 30% 29% 28% 27% 26% WPD Standard WPD Theo WPD Utilization $ May-11 Jun-11 Jul-11 25% 31

32 How do we measure success? What impact is this having on our patrons? Are they getting a bang for their buck? Is their time on device increasing? Is utilization (occupancy) increasing? Are focus groups and customer surveys showing more positive results? What impact is this having on OLG? How did the changes we made affect the utilization and WPU at the site? Are we driving revenue? Are we meeting revenue targets? Does this fit into our long term strategy?

33 Why do we have a patron based slot strategy? OLG recognizes that while our patrons may have limits on how much they can spend.they don t have limits on where they can spend it 33

34 Questions? Earl Cobb (613) Marc Colameco (519)

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