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German B2C and B2B transactional portals run on the framework we are developing! From Vegas Audits to Casino CEO: Marcel Tobler’s Journey and the Future of Gambling
Marcel Tobler, CEO of Swiss Casinos, has a story that’s as captivating as the games his company offers. His career path, a fascinating blend of accounting, international experience, and a deep understanding of the gambling industry, offers valuable insights into the evolving landscape of casinos, both online and offline. This blog post delves into the key takeaways from a recent interview with Mr. Tobler, revealing his unique perspective and the innovative strategies driving Swiss Casinos’ success.
A global career forged in numbers and chance
Mr. Tobler’s journey began not at the poker table, but in the world of accounting. After a business school apprenticeship in Switzerland and a stint in Cambridge, UK, he joined PwC, eventually undertaking a two-year assignment auditing casinos in Las Vegas. This experience, surprisingly, wasn’t filled with high-stakes gambling. In fact, he only played casino games three times during his entire stay! However, it ignited a passion for the industry, drawn to the unique blend of entertainment and stringent regulation. This led him to pursue a US CPA certification and an MBA from a program with campuses in Singapore, London, and Chicago – a journey he wholeheartedly recommends (more on that later).
Understanding the player – The heart of casino success
One of the most compelling aspects of Mr. Tobler’s insights is his emphasis on understanding the player. He highlights the crucial difference between those who enter the industry from a player background and those with strong business acumen but lacking player experience. He stresses that management must intimately understand the product they’re offering. This understanding isn’t achieved through assumptions, but through direct interaction and rigorous testing.
Mr. Tobler emphasizes the importance of A/B testing, both online and offline, to understand player preferences and optimize strategies. He advocates for CEOs to engage directly with players, attending events and actively seeking feedback, rather than relying solely on reports. This direct interaction, he argues, humanizes the organization and fosters genuine understanding. At Swiss Casinos, this philosophy is implemented through empowered channel managers who have direct contact with customers, both in land-based and online settings.
The convergence of online and offline casinos
A significant portion of the interview focused on the relationship between online and land-based casinos. Mr. Tobler notes the surprisingly high overlap between the two in Switzerland, with 50% of online players having visited a land-based casino in the past two years. He predicts this will change as online casinos offer a lower barrier to entry and a less intimidating experience, often serving as a gateway to the land-based world. He even suggests that aspiring Vegas gamblers try online casinos first!
However, he doesn’t believe land-based casinos are destined for extinction. He likens them to movie theaters – offering a unique, experiential element that online platforms can’t replicate. The key, he argues, is to enhance the experience, focusing on aspects beyond just the games themselves, much like Vegas casinos have successfully done by diversifying their revenue streams.
Data-driven decisions – Bridging the online and offline divide
Mr. Tobler highlights the significant differences in player behavior between online and land-based casinos, largely driven by the constant influx of new games and data availability in the online space. He emphasizes the importance of combining data from both platforms to improve player acquisition and retention strategies, particularly for VIP players. This requires dedicated cross-selling efforts and a unified approach to VIP management. Swiss Casinos’ unique dual operation, encompassing both online and land-based casinos, allows them to leverage this data effectively.
Navigating the regulatory landscape and the black market
The interview also touched upon the challenges of operating in a regulated market, particularly the competition from illegal online and land-based casinos. Mr. Tobler advocates for simplified regulations to combat the black market and emphasizes the importance of collaboration with regulators. He notes that Swiss Casinos pays almost 50% tax, limiting their ability to offer bonuses compared to their illegal competitors.
The value of an MBA – More than just theory
Finally, Mr. Tobler shared his perspective on the value of an MBA, emphasizing the importance of collaborative problem-solving and cross-cultural interaction. He highlighted the practical application of knowledge and the invaluable experience of working with a diverse group of students from around the world. For him, the MBA wasn’t about acquiring theoretical knowledge, but about developing the skills to effectively navigate complex business challenges in a global environment.
This article is based on an episode of the CEOpen mic podcast. For the full conversation and more insights, tune in to CEOpen mic on YouTube and Spotify – don’t forget to subscribe so you never miss an episode!
