Kellogg students prepare strategic market analysis for global gaming firm
The global gaming industry has been growing briskly over the last decade, with rapid expansion in markets across the globe. But by and large the casino industry has followed a reactive expansion policy, entering new markets only after the issuance of gaming licenses.
In this fall’s Real Estate Lab course sponsored by Caesars Entertainment (formerly Harrah’s), five Kellogg students addressed this issue by developing a more proactive approach for Caesars’ casino-resort expansion strategy. In particular, the project focused on identifying international markets where significant latent demand for gaming exists, in hopes of beating rivals to the punch.
The student team—consisting of Mike Jacobson ’11 (TMP), Kyle Naye ’11, Nipesh Patel ’11 (TMP), Eric Schultz ’11 and Justin Hollyn Taub ’11—collaborated closely on the project with Mike Salzman ’09, an Associate in Caesars’ Resort Development Group.
Over the 10-week timeline, the team performed extensive research, designed a comprehensive market ranking methodology and performed a feasibility study on one of the top markets identified by the team. The project culminated on November 29th with a final presentation to four members of Caesars’ Resort Development Group, including Senior Vice President Greg Miller ’93, at the firm’s Las Vegas headquarters.
Directed by Kellogg faculty member Bill Bennett ’06, the Real Estate Lab is a 10-week course providing students with an experiential learning opportunity in real estate by placing them on a real-world consulting project for a sponsoring firm.
According to Bennett, “The team presented a thoughtful analysis and delivered a high-quality product, which was especially impressive given the global scope and complexities of this particular project.”
Salzman added, “We are very pleased with the outcome and found the team’s framework to be both novel and a great decision-making platform for the company.”