Cash In! is a series of concise communiqués that offer our perspective on topics that challenge marketing professionals in the gaming industry.
IIn the year 2000, the Hispanic population became the largest minority group in the United States, and by the year 2010 it is expected to double the African American population and triple the Asian population. So how does this phenomenal growth impact the casino industry?
Today, gambling has become part of America's popular culture with a record number of casinos operating in the country. In addition, the increasing popularity of online gaming and the poker tournaments that are now part of mainstream television programming are helping to fuel that growth. There is no doubt that there is a correlation between these facts and the growing Hispanic population. You may be asking yourself, "Why do I need to know so much about marketing to Hispanics." Well, the answer is simple: survival!
Over 125 Indian casinos can be found within the top ten U.S. states that have the highest concentration of Hispanics. When looking at the age distribution of this demographic, we see their mean age is 25.9 years, which is 10 years younger than the U.S. general population, currently at 35.3. Their spending power is expected to reach over $1 trillion by 2010. These are numbers that simply can't be ignored! And if this is not reason enough for you to consider implementing or at least looking into the possibility of a communication effort targeting Hispanics, here's one more: the current anti-immigration sentiment that is being heard and lived by many of them can strengthen the payback that you'll receive once you make the connection with the Hispanic market. That's because the more Hispanics feel that they are being marginalized or unwanted, the more they will appreciate the few who acknowledge them.
Just take a look at the current profile of your current casino customer. According to a report by Pew Research Center, the typical U.S. gambler is an affluent white male age 65 and under. And yes, that is more or less the consumer base that you already have. But as a Marketing Director, Promotions Director or CEO of your casino, don't you want to aim ahead of where your customers currently are and set the stage for future growth? And doesn't adding on a rapidly expanding and increasingly affluent consumer base to your current one sound like a very smart move?
Of course it does! Targeting Hispanics might sound as easy as hiring a translator, but it goes much deeper than that. You first need to know who your "Bulls-eye" is. Hispanics are not just one group - they are a mix of groups. They may share a common denominator, which can be the Spanish language, but even their Spanish will have variations. Second, you'll need to develop proper market segmentations for your Hispanic demographic. By developing advertising that specifically caters to the Hispanic market, the consumer will feel valued and respected.
Contact Info: Kurt Gross - Vice President/Customer Services 800.950.7333