Questions
What does the Tangam Intelligent Minimums Management Solution do?
Is this a new concept? Why is it important to manage table games occupancy or minimums?
What is the Return on Investment on this solution?
How do you quantify the revenue increase on my bottom line?
Who are your existing customers?
I am concerned about burning out players if I increase our hands per hour rate.
Will it work for all my tables including Craps and Roulette?
What if dealers or pit supervisors enter erroneous data into the software?
If we choose to use a dealer keypad to input data, will that slow down the game?
How are the recommendations suggested to my pit managers?
What does the Tangam Intelligent Minimums Management Solution do?
By using Tangam’s Intelligent Minimums Management (IMM) solution you will be maximizing profits from every table every day. This is achieved by managing table minimums to gain business at different times and from differing customer supply. The system will generate information to suggest to management when to raise or lower the betting limits based upon your customer demand.
The IMM solution includes a real-time prediction engine that models player supply trends and predicts hourly supply for each game type, based on historical as well as present data. The built in utilization management model helps maintain optimal utilization levels across the entire casino for the current and predicted customer supply, and manages high utilization periods to maximize profitability. The solution’s flexible architecture provides management with numerous options based on their table games floor mix, betting tier requirements, customer service philosophies and level of optimization desired.
Is this a new concept? Why is it important to manage table games occupancy or minimums?
The importance of managing table games utilization and table games minimums has been understood by experienced gaming executives for years. The Global Gaming Business magazine published an article titled Table Games: Optimal Utilization, by Andrew MacDonald and William Eadington, explaining the importance of managing minimums and table utilization in order to maximize profits [http://ggbmagazine.com/articles/Table_Games__Optimal_Utilization/].
As another example, Jim Kilby, in his industry standard book Casino Operations Management, explains the basic concepts and guidelines for planning table games utilization levels.
The industry lacks automated, comprehensive and scientific software that can leverage these known concepts in an optimized fashion. Tangam’s solution takes the guesswork out of the process and provides optimal minimums management recommendations.
Our pit managers are supposed to be managing minimums anyway. Why do I need this software when our pit managers are already supposed to be doing this?
Given the already busy workload of pit managers, it has proven to be difficult for them to manually adjust betting minimums correctly and consistently because:
- Customer supply fluctuates continuously
- Decisions must be based on utilization levels and customer supply across the entire casino floor and not just one pit
- Actual wagers at the tables will help determine more optimal pricing decisions
- Pricing adjustments must be made proactively in tune with what the customer supply is likely to be in the next hour and not just the present situation
Experienced pit managers have a feel and intuition about when to adjust minimums. For example, occasionally players at a specific table may not be receptive to adjusting the minimums. Can the software account for these nuances?
Tangam’s optimization algorithms were developed by extensively analyzing table game operations statistics and studying customer behavior patterns. The result is the solution’s ability to take the guesswork out of determining table game betting minimums. Ultimately however, the minimums adjustment recommendations are made to the pit manager and it is in his or her discretion to apply the adjustments based on current customer preferences at the tables.
What is the Return on Investment on this solution?
Tangam’s Intelligent Minimums Management solution is a cost effective solution that in most cases can help increase profitability by several percentage points within the first 90 days. In most cases you can expect a return on investment within the first 90 days after implementation.
How do you quantify the revenue increase on my bottom line?
Naturally occurring swings in player supply, wagering patterns and win/loss are a part of the casino business and therefore it is difficult to isolate the exact increase in revenue that can be attributed to revenue management activities. However, we do track and quantify specific profitability metrics that can be attributed to revenue management activities. Please contact us directly to schedule an information session on this specific topic.
Who are your existing customers?
Tangam’s IMM is a new technology that is being offered to select early adopter customers through our Innovator Program. Innovators would be the first to be able to use these features to make revenue gains. We will be publishing case studies and customer lists in due course. If you are interested in learning more about our Innovator Program please contact us at sales@tangamsystems.com or 720-535-1099
What if I don’t want to lose my loyal retail (or lower betting limit) customers just to maximize short term profits from higher limit players?
Our solution offers various options for management to set the level of optimization they require. For instance, if management wants to always reserve a certain number or percentage of seats for a specific player base, it can be set in the software configuration. In this manner, the real time recommendations are in tune with management’s customer service philosophies.
I am concerned about burning out players if I increase our hands per hour rate.
The IMM solution does not directly impact hands per hour. The dealers continue to deal at the same pace they normally would and players make decisions at their normal pace. The solution simply helps maintain optimal utilization levels for the current and predicted customer supply, and manages high utilization periods to maximize profitability
Will it work for all my tables including Craps and Roulette?
The first version of the IMM solution supports Blackjack and its variations. Our next version will include support for additional game types.
Does the software take into consideration our operating requirements such as minimum tables at each betting tier?
The solution’s flexible architecture provides management with numerous options based on their table games floor mix, betting tier requirements, customer service philosophies and level of optimization desired. For example, if management wants to operate at least two $5 Blackjack games on a Friday night, it can be set as a requirement in the software.
I have a table management system with a data entry touch screen at each table. Can I use it as the data input device?
If you have a table management system that is either touch screen based or RFID based, you can use your existing system to provide input to the Tangam IMM solution.
What if dealers or pit supervisors enter erroneous data into the software?
By requiring head count data entry every 15-20 minutes and averaging over several entries, we minimize the impact of input errors. Furthermore, any data input that is significantly off from the previous data point will result in a prompt for repeat entry at the data input device.
If we choose to use a dealer keypad to input data, will that slow down the game?
If the dealer is entering the data, it takes less than two seconds to enter a headcount and it is usually done during downtime in between games. It will not slow down the game.
How are the recommendations suggested to my pit managers?
The recommendations are sent to a wireless handheld device that each pit manager can have. Alternatively, they can be displayed on the Pit PC or on the display for your existing table management system.
Does the real time prediction engine for customer supply take into account factors such as special events and hotel occupancy?
The customer supply trends are predicted based on historical supply as well as present data. However, the solution allows management to pre-set special events when the supply is expected to be significantly different from the past.
To request a live product demo contact sales@tangamsystems.com
