The Strategy Organization, a gaming and hospitality-focused consulting firm, has launched in Las Vegas. The firm will offer support in operations, marketing, and innovation as the gaming industry hopes to eventually bounce back from Covid-19-related shutdowns.
Nevada Governor Steve Sisolak ordered non-essential business – including casinos – to shut down for 30 days on March 17. With more than 200 casinos closed in the state, more than 200,000 casino workers are now without work. MGM Resorts, the largest employer in Nevada, has furloughed 60,000 of its employees.
Pandemic-related lockdowns are strangling economic activity across the US, but Nevada is being especially affected because its economy is so reliant on tourism, travel, and hospitality – a sector which has basically seen wholesale nullification. Each month the tourism industry is shut down in Nevada will cause $4.7 billion in economic losses, according to the American Gaming Association.
Even beyond the unique factors of this current crisis, the gaming and hospitality industry (in Nevada and elsewhere) is especially susceptible to economic downturns, as consumers tighten their belts and restrict their non-essential spending. With economists predicting a potential deep recession as a result of the impact of the pandemic, the industry’s troubles could be far from over even when casinos are cleared to reopen.
Industry veterans Josh Swissman, Seth Schorr, and Matthew Chilton have launched The Strategy Organization (TSO) to help gaming and hospitality clients navigate the trying times ahead, including re-opening strategies. The founding partners collectively have 75 years of industry experience, previously having worked through strategies in the wake of 9/11, the financial crisis, and the One October mass shooting in 2017.
“These last several weeks have been unlike any this industry has ever seen. We know businesses are eager to re-open and recover swiftly,” Chilton said. “Our reputable and trustworthy skill, expertise and industry experience can help you identify new revenue streams and operational efficiencies. We work closely with your team to provide data-driven strategies that get your business volumes back to where they need to be.”
In the area of operations, the firm offers support in revenue management improvement, operational efficiency analysis, and re-opening planning. The company’s marketing offering includes loyalty program management, advertising strategy planning, database segmentation, brand strategy, and entertainment programming optimization. Its innovation services include eSports integration strategy and sports betting strategic planning.
“I am thrilled to launch The Strategy Organization,” Swissman said. “With our deep-rooted experience in hospitality and gaming, and longstanding history in Las Vegas, it couldn’t be a more important time to serve our industry, in Las Vegas and globally. We are prepared to support with re-opening properties to revitalize our industry.”
Swissman is a marketing executive with 15 years of P&L experience, with deep expertise in marketing and brand strategy, analytics, loyalty programs, and CRM. He was previously chief marketing officer at Station Casinos, and held several leadership roles in marketing at MGM Resorts.
Schorr has over 20 years of industry experience, specializing in driving business strategy and building strategic alliances. He is the CEO of Fifth Street Gaming, which owns and operates five casinos and more than 50 food and beverage concepts. Schorr previously held executive leadership and board positions at various companies, including Wynn Resorts, Bellagio Hotel & Casinos, The Mirage Hotel & Casino, and Treasure Island.
Chilton has over 20 years of industry experience, specializing in operations – including R&D and implementation of new products, services, and technology. He has deep expertise in hotel operations, revenue management, guest services, and financial planning. Chilton launched CCM Hospitality in 2018, a development firm which financed, developed, and operates two hotels in Nevada. Before that, he was GM at Delano Las Vegas. He also held leadership positions at Mandalay Bay Resort and Casino, Treasure Island, and Mirage Resorts.